Old Mill Inn Up For Sale

Two is better than one, right?

A realtor marketing two Hatboro buildings – the former  restaurant and a structure which currently houses  – is hoping would-be business owners agree with that notion.

The long-shuttered Old Mill Inn, situated at the corner of York and Horsham roads, had been returned to TD Bank this spring following its previous owners’ foreclosure. The former restaurant and 1720s era grist mill has been listed for sale, along with 402 S. York Road, as a “package” deal, according to realtor Philip Rothenberg of Jackson Cross Partners.

The asking price for the combo 8,181-square-foot Old Mill Inn and 5,125-square-foot spa is $899,999, Rothenberg said.

“Both properties were originally owned by a single entity,” Rothenberg said. “(TD Bank) had to take the properties back.”

Spa Escape is still open for business. Its owner said Monday that the building where it's currently housed is for sale, not the business itself. The Old Mill Inn, which is said to be the oldest structure in Hatboro, has been closed for some time.

Hatboro Main Street Manager said the restaurant closed following a flood of Pennypack Creek, which sits adjacent to the structure. Barth, who has been inside the building recently, said he didn’t know if it sustained flood damage, or closed for another reason.

“Structurally to me it looked pretty good,” Barth said. “It was really a key iconic Hatboro location.”

Said to be the oldest structure in Hatboro, the Old Mill Inn was purchased in 2002 for $550,000, according to documents filed with the Montgomery County Recorder of Deeds. That owner, Fat Mozartt Inc., had possession of the property until April of this year, following a mortgage default.

Since the Old Mill and neighboring building were listed for sale about two weeks ago, Barth said he’s been coordinating with the realtor in soliciting prospective buyers. So far, two people have looked at the Old Mill, he said.

Finding a new owner for the historical structure is as integral to the success of Hatboro’s downtown as finding reuses for other vacant buildings, including Big Marty’s, the former Wendy’s, the borough-owned and the . 

Michael DeAngelis, CVS Pharmacy spokesman, said the company is under a lease agreement for the closed-down York Road property, which had been relocated to County Line Road in Warminster in February.

“We have no announcement at this time regarding a sub-tenant at this site,” DeAngelis said in an e-mail.

Barth said he had no news to report on possible buyers for any of the other vacant buildings. 

“Main Street has been working with a very focused goal of filling our empty properties,” Barth said, adding that the Old Mill is a “key anchor site that’s been empty for years.”