Remarks

5 Unit Mixed Use Commercial building in arguably the best and most strategic location on High St in Downtown Millville, fueled by redevelopment all around and directly across from the amazing Levoy Theater and newly renovated Fath Building. The building is comprised of 3 commercial units downstairs and 2 residential units upstairs. The residential units are a 2 bedroom, 1.5 bathroom unit and a 1 bedroom, 1 bathroom unit. All units, including the commercial spaces, are currently occupied. Downstairs you will find a barber shop in Unit A, an upcycling furniture store called Introducing Vicky, in Unit B, and a photography studio in Unit C. The City Tax assessor does not have actual sqft numbers but each commercial unit is roughly 1000 sqft estimated. Buyers should confirm sqft. The current rent roll is just under $5,000 per month and rents have room to go up. The building is fully electric so all utilities outside of water/sewer are paid by the tenants in the leases. The owner pays taxes, building insurance, and water/sewer. I have a PnL breakdown for interested and qualified buyers. All around this building you will notice revitalization happening, from the Levoy and the Fath to some of the most successful businesses in the Downtown in the first and second block. Millville is slated also to see an increase in the coveted dining sector right around this location in the coming years, further cementing this property as a prime location for commercial tenants moving forward. Whether you are a business owner looking to relocate and have your expenses covered by the other tenants, or a pure investor looking for both a cash flow and appreciation play, this building is definitely worth a look!

Details

MLS#: NJCB2017870
Price: $350,000

Year Built: 1919

County: CUMBERLAND
Tax Fee: 8550.0