Remarks

It is an honor to announce a mixed used building in Atlantic City, New Jersey just post to market, which is located in a busy shopping center, adjacent to casinos and commercial buildings. The land area is 4238 sq ft, and the building’s area is 8942 sq ft. It contains a total of 7 units, two retail stores on the ground floor, the leases will end in 2029 and 2031, 3% rent increase per year, tenants pay 1/7 of the water bill each; 5 residential units sign lease annually, Apt#1,Apt#2 on the 2nd floor, Apt#3, Apt#4 on 3Rd floor, all of them are 3 beds and 2 bath on each, Apt#5 is 1bed and1 bath on the rear of 1st floor. hot water and heating have been separated, tenants pay for their own utilities. the gross income is $129,660, expenses is about $32,000. The building is well maintenance, easy handling with stable growth income, 8.5% cap rate. it is a great opportunity for investors, the motivated seller is ready to hear all offers.

Details

MLS#: 488542
Price: $998,000

Style: Mixed Use
Sq Ft: 8942

Tax Fee: 21385.00