Historic Wenkel's Pharmacy
aka Historic Hatfield Residence
Current condition of property:
All three floors of this building are in use, with a pharmacy on the ground floor, but only rental storage on the upper floors. There is only one stair and no elevator, so the building currently does not meet code requirements, and would need these changes if rehabbed.Project potential:
Market value of this property as is: $450,000
Size of each floor: 35x85 ft.
Current income of the ground floor ($16/sq.ft./year)
Current income of 2nd floor ($4/sq.ft./year)
Current income of 3rd floor ($3/sq.ft./year)
If the building had a full rehab:
Cost to rehab ground floor ($100/sq.ft.)
Cost to rehab upper floors ($75/sq.ft.)
Potential income of the ground floor ($24/sq.ft./year)
Potential income of 2nd floor ($17/sq.ft./year)
Potential income of 3rd floor ($16/sq.ft./year)
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