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Key Details
Sold Price $840,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 549198
Sold Date 12/22/22
Style Comm. w/Apartments
Annual Tax Amount $7,694
Tax Year 2020
Property Description
Bank of America, Dental Care of Egg Harbor, LLC, two 3-bedroom apartments, 100% occupied. Lease with BOA started in 2013 for 15 years, has 7 years remaining. Years 16 to 30 go from $2927/month to $3,522.67/month. BOA reimburses 25% of all operating expenses. Dental Care Grand Opening today, Oct 6, lease is for 60 months with 2 five-year options at 3% bump per year. Dental Care has ADA compliant bathroom. Leases escalate yearly. Buyer and seller will follow Bulk Sales Act, C9600, certified at least 10 days prior to settlement. 2nd floor two 3-BR apartments rented at $1,200/month. 4 units at 1,156 sf for total 4,624 sf. Cap Rate 7.66%. Located in busy commercial area near public transportation. Great Investment Opportunity! Call listing broker to show.
Location
State NJ
County Atlantic
Community Egg Harbor City
Area Egg Harbor City
Location Details Business District,See Remarks
Exterior
Roof Type Asphalt
Building
Story 2
Sewer Public Sewer
Water Public
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