134 E Lancaster Ave

Property Details

Investment Highlights

• 2 Retail spaces ° ± 1,918 SF ° ± 557 SF
• Total SF 4,483 SF
• Township: Downingtown Borough
• School District: Downingtown
• Tax ID: 11-08-9987
• Price: 799,000
• Taxes: $5,795 (2010)
• Lot Size: 25 x 174
• Zoning: C-2 Central Commercial
• Parking: Onsite parking, Street parking, Adjacent municipal parking lot
• Utilities: Public Water/Sewer/Natural Gas
• Large 2 Bedroom Apartment Fully renovated with new appliances- Leased $1,950/ Month (Lease begins 7/1/23)

Project Description

The Hankin Group is transforming the former Sonoco Paper Company site into a new town center located in the Borough of Downingtown along the Brandywine River. This transit oriented
development will include a new regional SEPTA rail station along with 14,200 SF of mixed-use office and retail space and 442 multi-family residential units. Apartment amenities will include a state of the art clubhouse with residential lounges, fitness and yoga studios, work share spaces, a private viewing room, a private conference room, a resort style pool, a pet spa, and more. Phase one of the River Station Project is projected to be open in spring of 2023 and will include 203 of the projected 442 luxury apartments.

Trade Area Description:

Downingtown is a Borough in Chester County, Pennsylvania, 33 miles west of Philadelphia. Originally one of the last mills on the edge of the unsettled western frontier, Downingtown is rich
in historical significance. The East Lancaster Historic District was placed on the national Register of Historic Places in 1979 and there are 20 historic structures cited within the district. Today the
Borough of Downingtown is one of the most desirable places to live with a dense suburban feel and highly rated public schools.

Property Location: