CAME BACK ON THE MARKET. Prime investment property. 2.0 ac with 12,800 sf strip center retail building and 15.7 ac wooded property in Browns Mill, NJ. There are 16 units with 65 parking spaces. Now 70% of occupancy but still the cap rate is 7.6%. When you make more tenants, your cap rate will be 9%. The tenants are a Pizza restaurant, a Chinese restaurant, a Laundromat, a Dry Cleaner, a Doctor's office, a Barbershop, an SPA, and churches. This property has 4 lots (20, 25, 26, 27); 2 lots (25, 26) are part of the Plaza, and the remaining 2 lots consist of 15 acres of undeveloped land and an access road. The 2023 appraisal value was $1,400,000. The property's soil contamination is currently undergoing treatment. If the issue persists after the sale, the seller plans to contribute a certain amount to the escrow. If the buyer commits to resolving this issue, negotiations on the price are possible.
Realty Mark Advantage We're Making Our Mark in Real Estate
9000 E. Lincoln DRIVE E 120
Marlton, NJ, 08053
US
Edward Cackowski (856) 457-4900 dsupnick@aol.com Website
Information is believed to be accurate but should not be relied upon without verification.
Data Provided by Bright MLS
Last updated: 2024-07-11T01:39:54.000-04:00. Privacy Policy