118 N George Street

Description

Welcome to 116-118 N George St, a rare six-unit mixed-use investment opportunity in the heart of Downtown York's Restaurant Row. Whether you're looking to expand your portfolio or acquire a property with significant upside, this prime location puts you in the center of one of York's most vibrant and walkable districts. Surrounded by popular restaurants, breweries, coffee shops, boutiques, nightlife, and just minutes from the York Revolution stadium, Appell Center for the Performing Arts, Central Market, WellSpan Park, and countless local businesses, this is a location tenants and business owners actively seek out. The property features two commercial storefronts leased to the same long-term tenant for $3,095 per month on a lease running through November 2028, complete with annual rent increases for built-in income growth. The residential portion includes four apartments, with one of the two bedroom units currently rented month-to-month for $900 per month and three vacant units ready for lease-up. Projected market rents are $500-$700 per month for the efficiency apartment and $1,250 per month for each two-bedroom unit, bringing the property to a projected gross monthly income of $6,995 or $83,940 annually once fully stabilized. With annual operating expenses of approximately $5,000 for insurance and $5,000 for utilities, this property offers investors the opportunity to capitalize on York's continued downtown revitalization while increasing cash flow through leasing the remaining vacant units. Opportunities like this in such a highly desirable downtown location don't come around often. Professional photos will be uploaded Wednesday. Call today to schedule your private tour before it's gone!