696 Pennsylvania 590

Exceptional Mixed-Use Investment Opportunity in the Heart of Lackawaxen! Ideally situated along highly traveled PA-590 just minutes from the historic Roebling Bridge, the scenic Delaware River, and endless outdoor recreation, this five-unit mixed-use property presents an outstanding opportunity for investors seeking immediate cash flow with exceptional value-add potential. Featuring one commercial storefront and four residential apartments, the property currently generates income from the four occupied residential units while the approximately 1,225-square-foot commercial storefront remains vacant, offering an immediate opportunity for owner occupancy or additional rental income. Based on the property's current income, it operates at an approximate 3.74% cap rate. Once the vacant storefront is leased at projected market rent, the property is projected to achieve an approximate 6.98% pro forma cap rate, with even greater upside available as all residential tenants are currently on month-to-month leases with rents below market value, allowing future owners the opportunity to further increase income and maximize returns over time. The first-floor commercial space encompasses approximately 1,225 square feet and offers exceptional flexibility for a retail business, office, gallery, cafe, professional services, or a variety of other permitted commercial uses. Rich in character, the space features beautiful oak hardwood floors, exposed wood beams, an impressive stone wood-burning fireplace, oversized bay display windows that flood the space with natural light, a half bath, and an adjoining room with its own private entrance that can be incorporated into the main storefront or utilized as additional office, retail, or storage space. Also on the first floor is a private two-bedroom apartment complete with its own entrance, kitchen, living room, full bath, and hardwood flooring throughout.