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129 N High Street N

MILLVILLE, NJ 08332
  • $350,000
  • STATUS: Active
  • ON SITE: 56 Days
  • ID#: NJCB2017864
UPDATED: 107 min ago
$350,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,250
    SQFT
  • $82
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1919
County:

School Ratings & Info

School District:

Description

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!

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Broc Schmelyun Team | RE/MAX. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-21T08:55:38.417.
www.soldbybroc.com/homes/149886211
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129 N High Street N MILLVILLE, NJ 08332

  • Price: $350,000
  • Status: Active
  • On Site: 56 Days
  • Updated: 107 min ago
  • ID#: NJCB2017864
0
Beds
0
Baths
0
½ Baths
0.2
Acres
4,250
SQFT
$82
$/SQFT
1919
Built
Neighborhood:
Millville City (20610)
County:
Cumberland
Area:
Millville City (20610)
School District:
Millville Board Of Education
Property Description
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!
Exterior Features

Architectural Style Other Construction Materials Brick Garage YN No Parking Types On Street Pool No Pool Roof FlatShingle Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 4250 Basement Interior Access Basement YN Yes Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Central A/CCeiling Fan(s)Wall Unit Fireplace YN No Heating Baseboard - Electric Heating YN Yes Inclusions Seller owned fixed itemsappliancesand utility systems. Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 1 Units Furnished None

Property Features

Acceptable Financing CashConventionalOther Accessibility Features None Central Air YN Yes Cooling Fuel Electric Existing Lease Type Long TermEscalate Clause Foundation Details Stone Heating Fuel Electric Hot Water Electric Municipality MILLVILLE CITY Navigable Water YN N Net Operating Income 40874.00 New Construction YN No Number Of Units Leased 5 Number Of Units Total 2 Number Of Units Vacant 0 Operating Expense Includes InsuranceTrash Original MLSNumber 803020090874 Owner Pays InsuranceRepairsSewerTaxes - Real EstateTrash CollectionWater Ownership Interest Fee Simple Property Sub Type Other Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Over Storefront Tax Annual Amount 8550.00 Tax Lot 00027 Total Actual Rent 58824.00 Vacation Rental YN No Water Source Public Zoning B-3

Listing courtesy of DePalma Realty: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Broc Schmelyun Team | RE/MAX. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-06-21T08:55:38.417.
 
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