608-616 N HIGH ST N, Millville, NJ 08332 - MLS#NJCB2011586

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Adam Ferst

[email protected] +1(202) 421-5500

$325,000

Est. payment - /mo

6,899 SqFt

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UPDATED:

10/31/2024 01:18 PM

Key Details

Property Type Commercial

Sub Type Office

Listing Status Pending

Purchase Type For Sale

Square Footage 6,899 sqft

Price per Sqft $47

MLS Listing ID NJCB2011586

Originating Board BRIGHT

Year Built 1990

Annual Tax Amount $13,621

Tax Year 2023

Lot Size 7,840 Sqft

Acres 0.18

Lot Dimensions 80.00 x 0.00

Property Description

HUGE opportunity to own 6,899 square feet of updated, turnkey office space at an incredible price. This well-recognized two-story property is one of the finest office buildings in all of Millville, having been the primary offices for numerous doctors over the years. The property is fully equipped to handle medical or other professional services businesses, has a paved parking lot with proper signage, lighting, and accessibility. The property is also one of the highest trafficked areas in the City, offering incredible visibility to your business or your tenants. There are two downstairs units each with their own bathrooms and reception areas ready to be occupied. In addition, there are 9 designated office spaces (and potentially more) upstairs that could each be rented by individual small businesses, or rent the entire upstairs to a small to medium size third tenant. Upstairs you will find a common area bathroom and kitchen area as well as staircases on each side of the hall. At one point this property was bringing in north of $110,000 a year in rental revenue and requires minimal expenses. The pro forma cap rates are an opportunity that is extremely rare to come by. Not only is the cashflow potential remarkable, but you are buying a large commercial property that, along with commercial growth and development in the City, is very likely to appreciate at a high level moving forward. Prior Income/Expense reports are available on request by serious buyers along with upstairs floorplan. Property will be delivered vacant.

Location

State NJ

County Cumberland

Area Millville City (20610)

Zoning B-1

Interior

Hot Water Natural Gas

Heating Forced Air

Cooling Central A/C

Flooring Carpet, Ceramic Tile, Laminated

Inclusions Fixed appliances and utility systems. Parking and fixed items on lot.

Heat Source Natural Gas

Exterior

Garage Spaces 20.0

Waterfront N

Water Access N

View City

Roof Type Shingle

Accessibility 2+ Access Exits, Level Entry - Main

Total Parking Spaces 20

Garage N

Building

Lot Description Corner, Road Frontage

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Millville Board Of Education

Others

Tax ID 10-00313-00001

Ownership Fee Simple

SqFt Source Estimated

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Financing Cash,Conventional,Other

Special Listing Condition Standard

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Listed by Michael DePalma • DePalma Realty

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Adam Ferst

+1(202) 421-5500

Agent | RSRS325119

Agent RSRS325119

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