225 Columbia Mall Dr - Department Store CONDO FOR SALE


Bloomsburg, PA 17815
$2,559,187 USD
937-367-6656
225 Columbia Mall Dr, Bloomsburg, PA for Sale
$2,559,187 USD
Department Store CONDO - FOR SALE
1/3
null | 8.25% Cap Rate

225 Columbia Mall Dr
Bloomsburg, PA 17815


HIGHLIGHTS

  • Corporate guaranty from Michaels Stores, Inc.
  • Brand new 10- year net lease with tenant reimbursing for CAM, taxes, and insurance
  • New roof, electrical, plumbing, HVAC, and parking lot
  • Mall in process of complete transformation into open air lifestyle center
  • 46,000 cars per day

OVERVIEW

Capital Commercial Partners is pleased to bring to the market this Michael’s Stores Condo located at the Columbia Mall in Bloomsburg, PA. The investment offers a corporate guaranty from Michael’s Stores, Inc with a new 10-year lease. The expected rent commencement is December 1, 2024. The space has been turned over to the tenant and the certificate of occupancy received. The space has been completely renovated with new roof, HVAC, plumbing, electrical, and parking lot. The mall is in the process of undergoing a complete transformation to open air lifestyle mixed use center. Geisinger Health Systems is developing a hospital campus adjoining the mall and will be pedestrian between the two developments. This will make it very easy to work, live, and shop all in the same place. The property is in close proximity to Bloomsburg University with a student enrollment of approximately 9,600 students with a storied history being founded in 1839. It’s the 3rd largest of the 14 universities in Pennsylvania. It made the list of top universities in the northern region according to U.S. News and World Reports annual rankings. Bloomsburg is located in Columbia County and is 40 miles from Wilkes-Barre. It’s the county seat and the only incorporated town in PA.

FOR SALE DETAILS

PRICE

$2,559,187 USD

PRICE/SF

$158 USD /SF

CAP RATE

8.25%

# OF UNITS

1

CONDO SIZE

-

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Michael's Stores

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

TOTAL BUILDING SIZE

16,241 SF

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

18-02-048-03-000

ASK ABOUT THIS PROPERTY

Richard GeisenfeldCapital Commercial PartnersMore Info
937-367-6656

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Richard GeisenfeldCapital Commercial PartnersMore Info
937-367-6656

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.