519 LAKEHURST RD Pending Save Request In-Person Tour Request Virtual Tour
Browns Mills,NJ 08015
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Pending
Purchase Type For Sale
Square Footage 12,800 sqft
Price per Sqft $91
MLS Listing ID NJBL2057998
Year Built 1978
Annual Tax Amount $31,109
Tax Year 2023
Lot Size 17.800 Acres
Property Description
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.
Location
State NJ
County Burlington
Area Pemberton Twp (20329)
Zoning COMMERCIAL
Interior
Hot Water Natural Gas
Heating Central
Cooling Central A/C
Exterior
Garage Spaces 65.0
Water Access N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Pemberton Township Schools
Others
Special Listing Condition Standard