519 Lakehurst RdBrowns Mills, NJ 08015
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
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.
| yesterday | Listing updated with changes from the MLS® | |
| 3 months ago | Status changed to Pending | |
| 12 months ago | Listing first seen on site |
The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.
Did you know? You can invite friends and family to your search. They can join your search, rate and discuss listings with you.