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Key Details
Sold Price $650,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $270
MLS Listing ID NJGL2013764
Sold Date 11/07/22
Originating Board BRIGHT
Year Built 1890
Annual Tax Amount $9,593
Tax Year 2021
Lot Size 5,881 Sqft
Acres 0.14
Lot Dimensions 0.00 x 0.00
Property Description
Amazing opportunity for a business owner or someone hoping to begin a new business to own a mixed-use storefront and residential apartments providing immediate cash flow in a growing area of South Jersey. Situated directly across from "Rowan Boulevard," a massive $425 million revitalization project consisting of bars, restaurants, classrooms, boutique shops, other retail, and student housing, this is a prime location in Glassboro. It has significant potential foot traffic for your business and a great location for your residential tenants. The mixed-use property consists of four residential apartments (One 3 bedroom, one 2 bedroom and 2 single unit apartments) and one commercial space (approx. 1,000 square feet not including 2,000 square foot basement) which can easily be split into two separate commercial units. The current owner has operated their business out of the commercial building since 2004. All four of the residential apartments have had a 100% occupancy rate for more than 15 years. The owner is currently relocating and expanding their business but has a commercial tenant prepared to sign a lease starting in 2021. The lease is pending based on sale of property giving new owner option of starting their own business or relocating to this prime location. This unique property is also in the Glassboro opportunity zone offering investors federal tax credits and benefits. And, unlike most neighboring mixed-use properties that surround it, this property has its own off-street private parking lot. Additional details can be provided to qualified buyers!
Location
State NJ
County Gloucester
Area Glassboro Boro (20806)
Zoning C1
Interior
Hot Water 60+ Gallon Tank
Heating Radiator
Cooling Window Unit(s)
Heat Source Natural Gas
Exterior
Garage Spaces 6.0
Waterfront N
Water Access N
Roof Type Flat
Accessibility None
Total Parking Spaces 6
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Glassboro Public Schools
Others
Tax ID 06-00050-00001
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Financing Conventional,Cash
Special Listing Condition Standard
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Bought with Jan A Walter • BHHS Fox & Roach-Mullica Hill South