504-512 Chestnut St, Pottstown, PA 19464

Property Description

Attention Real Estate Developers! <p> <br>The property at 504-512 Chestnut St, Pottstown, PA, offers great potential, especially for conversion to residential, apartment, or condo development, as there is a shortage of rentals in the area. The borough encourages residential projects such as condos or apartments, similar to a warehouse conversion done in 2016 at Beech and Evans St.<br/> <p> The property lies within the Traditional Town Neighborhood Zoning District, which has restrictions and will require zoning variances for certain uses. The site includes multiple structures, notably a warehouse (11,280 SF) and a house (3,960 SF), both with basements. The warehouse requires some repairs, including brick facade repointing and roof repairs due to leaks. Additionally, the property at 512 Chestnut St features a concrete block structure (3,750 SF), with some floor repairs needed on the second floor.<p> The parcel has a total of 15,430 SF of above-ground space, plus 4,300 SF of basement areas. The property is fully paved, includes two fresh water wells, and is recently supplied with natural gas. It is priced at $665,000, down from the original asking price of $1M. <p> The seller is open to partnerships, financing options, or a cash purchase, and offers support to facilitate a profitable acquisition, especially for residential, apartment, or condo development.<p/>