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Key Details
Sold Price $650,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 537961
Sold Date 10/02/20
Style Commercial,Office Building,Off./Prof. Condo,Retail
Year Built 1969
Property Description
Location, Location! Location! Landmark property that is a well maintained shopping center with long term stable tenants, offered way below tax assessment value. Just under 10,000 square feet . Investors LOOK 8.61% strong -very good Cap Rate at list price, as rented out at full capacity earlier this year. Currently had four businesses occupying the center.. Property can be changed to up to 6 different business store front options if needed, in the future. All units gas forced air heat and central air, nice combination for over 37 years of retail shops and professional offices. Confidential rents and CAM charges and more details available to qualified buyers. 3000 square feet of retail or office space in the middle of the center becoming available September 1 2020, for a business owner occupied purchase possibility. This same 3000 sq ft space can be divided into two units for a 1000 store front and 2000 sq ft store front, with each store front having a separate gas heat and c/a which exists in place already, if more units desired by new owners. New rubber roof installed in 2014. in the back section. Prime real estate located on the golden mile of high traffic count Tilton Road, a major gateway direct route from the Garden State Parkway to very quick access to Margate, Longport, Ventnor, Egg Harbor Twp, and AC, NJ. Great Investor Buy! Long term leases signed 4 years till year 2024. If desired by new owner, the city zoning does allow a 2nd floor expansion- Call Gary for more.
Location
State NJ
County Atlantic
Community Northfield
Area Northfield City
Location Details Business District,Shopping Center,See Remarks
Interior
Interior Features Restroom, Smoke/Fire Alarm, Storage
Heating Forced Air, Gas-Natural, Multi-Zoned
Flooring Carpet-Partial, Linoleum/Vinyl, Slab
Exterior
Exterior Feature Sign, See Remarks
Parking Features 11 or More Spaces, Off Street, Paved
Roof Type Flat
Building
Story 1
Sewer Public Sewer
Water Public
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