371 E Main Street

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SJI Jackson Real Estate extends to qualified investors the opportunity to acquire the fee simple interest in the +/- 1.8 acre mixed use development site located at the corner of 371 E. Main Street in Norristown, Pennsylvania. The property consists currently of 19 individual lots situated in the Town Center-II zoning district which allows for a variety of commercial and residential uses. Sketch plans are currently in place that would allow for 18,966 of ground floor retail/commercial use, 82-98 surface parking spaces, between 60 to 96 residential units with a roof deck (floor count dependent). This project is situated in Norristown Borough’s Federal Qualified Opportunity Zone, allowing for beneficial tax investment incentives, and has been awarded a Redevelopment Assistance Capital Program (RACP) grant from the Commonwealth of Pennsylvania. The site is located in close proximity to the Montgomery County Courthouse and SEPTA’s Norristown Transportation Center, with an estimated 17,500 car traffic count.

Price:$$2,995,000
Address:371 E Main Street
City:Norristown
County:Montgomery
State:Pennsylvania
Zip Code:19401
MLS:PAMC2058878
Acres:0.280
Lot Square Feet:0.280 acres
dom:303
lotSqft:12225
mlsArea:Norristown Boro (10613)
netSqft:78408
taxYear:2023
hotWater:None
saleType:Standard
historicYN:no
possession:Immediate
coolingFuel:None
coolingType:None
heatingFuel:None
heatingType:None
landUseCode:3321
propertyUse:Investment
sewerSeptic:Public Sewer
waterViewYN:no
businessType:Other
centralAirYN:no
lotSizeUnits:Square Feet
municipality:NORRISTOWN BORO
tidalWaterYN:no
yearAssessed:2023
listingLocale:200004363656
lotSizeSource:Estimated
showingMethod:In-Person Only
typeOfParking:Off Site, On Street
waterAccessYN:no
buyerAgencyComp:2.5
taxAnnualAmount:6192
unparsedAddress:371 E MAIN ST,NORRISTOWN,PA,19401,MONTGOMERY
waterOrientedYN:no
yearBuiltSource:Assessor
navigableWaterYN:no
owner1ViewedDate:2023-09-27T01:41:05+00:00
owner2ViewedDate:2023-09-27T01:41:05+00:00
potentialTenancy:Multiple
riparianRightsYN:no
taxAssessedValue:101800
taxDataUpdatedYN:yes
vacationRentalYN:no
leaseConsideredYN:no
lotSizeDimensions:94.00 x 0.00
ownershipInterest:Fee Simple
groundRentExistsYN:no
acceptableFinancing:Cash, Other, Private, Conventional
buyerAgencyCompType:% Of Gross
lotDimensionsSource:Assessor
buildingTotalSqftSource:Assessor
listOfficeBrokerOfRecordKey:121135036015
automaticallyUpdateTaxValuesYN:yes
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