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22-24 W High Street

GLASSBORO, NJ 08028
  • $700,000
  • STATUS: Active
  • ON SITE: 92 Days
  • MLS #: NJGL2013764
UPDATED: 48 min ago
$700,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1890
County:

School Ratings & Info

School District:

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!

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©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-07-04T16:51:40.543.
www.sellwithsikora.com/homes/127335197
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22-24 W High Street GLASSBORO, NJ 08028

  • Price: $700,000
  • Status: Active
  • On Site: 92 Days
  • Updated: 48 min ago
  • MLS #: NJGL2013764
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1890
Built
Neighborhood:
Glassboro Boro (20806)
County:
Gloucester
Area:
Glassboro Boro (20806)
School District:
Glassboro Public Schools
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!
Exterior Features

Construction Materials Other Garage YN No Location Type Business District Parking Types Off Site Riparian Rights YN No Roof Flat Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 2400.00 Cooling Window Unit(S) Exclusions Landlord And Tenants' Personal Property. Electric Car Charger. Heating Radiator Heating YN Yes Inclusions Air Conditioning Unit in Commercial Space. Net Square Feet 7200.00

Property Features

Acceptable Financing ConventionalCash Accessibility Features None Annual Gross Expense 78300.00 Assessment Year 2021 Association Expense 0.00 Business Type Other/General Retail Central Air YN No Cooling Fuel Natural Gas Electric 200+ Amp Service Gross Income 78300.00 Heating Fuel Natural Gas Hot Water 60+ Gallon Tank Insurance Expense 3525.80 Maintenance Expense 4000.00 Municipality Glassboro Boro Navigable Water YN N Net Operating Income 51610.35 New Construction YN No Number Of Units Total 0 Operating Expense Includes Heating/CoolingOtherWaterSewerSnow RemovalRepair/MaintenancePest ControlInsurance Original MLSNumber 801441245322 Other Expense 6333.15 Owner Pays WaterTaxes - Real EstateSnow RemovalSewerRepairsPest ControlInsuranceHeat Ownership Interest Fee Simple Possession 120-180 Days Property Sub Type Mixed Use Sale Type Standard Sewer Public Sewer Tax Annual Amount 9593.00 Tax Assessment Amount 272300.00 Tax Lot 00001 Trash Expense 0.00 Vacation Rental YN No Water Source Public Zoning C1

Listing courtesy of Penzone Realty.


©2022 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or eXp Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2022-07-04T16:51:40.543.
 
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