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listing
1 of 50
CommercialFor Sale
$2,890,000
118-120 E Main Street
Norristown, PA 19401
Listed by: Iron Valley Real Estate Doylestown, (267) 703-5050
MLS: Bright MLS
19,000Sq Ft
Est. Mortgage
$15,018/mo

18-120 E. Main Street presents a standout investment opportunity with a 7.83% cap rate and significant growth potential in a revitalizing market—this fully renovated, mixed-use property, spanning approximately 19,000 SF, underwent a 2022-2023 gut rehab and features 17 residential units (16 efficiencies and one 1-bedroom) with modern kitchens, stainless appliances, hardwood floors, split-unit HVAC, high ceilings, and large windows, complemented by a common area with a full kitchen and bathroom plus an income-generating laundry facility, while the 9,300 SF “El Jefe” Mexican restaurant, secured by a long-term NNN lease through 2032, includes a highly valuable liquor license at no additional cost, enhancing its appeal with a full basement kitchen, expansive dining/lounge areas with pool tables and entertainment platforms, an outdoor courtyard, and an untapped rooftop deck, generating $331,246 in annual income ($240,714 residential, $90,532 commercial) and a $204,537 NOI after expenses. The property sits just minutes from I-476 and the Norristown Transportation Center amidst $531M+ in nearby redevelopment including the $400M Montgomery County Justice Center, $100M Lafayette Street Extension, and $31M MM Partners project—don’t miss out, act now to secure this cash-flowing asset with liquor license included!

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This data is up-to-date as of 06/24/2025 06:34 AM. Listing provided by Stephen B Ammon of Iron Valley Real Estate Doylestown.
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