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2219 Park Avenue
South Plainfield, NJ 07080

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Property Details


List Price: $850,000
Beds: --
Baths: --
Status: Active
SqFt: 4500 Square Feet
Agency: BHHS Fox & Roach Princeton Home Marketing Center
Agency Phone: (609) 924-1600

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Description/Comments


Lot Size: 0 acre(s)
Property Type: Commercial Sale-Other
Year Built: 1970
Notes: INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)
MlsNumber: --
ListingId: NJMX2006058


Listing Provided By: BHHS Fox & Roach Princeton Home Marketing Center, original listing
Office Phone: (609) 924-1600
Agent Name: Timothy Crew
Disclaimer: Copyright © 2024 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.


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