399 Front St
$1,100,000
399 Front St, Elmer, NJ 08318
8.25
Cap Rate
9,008 sqft
Building Size
Details:
Highlights:
- Days on Market: 115
- Parking Features: Paved Parking, Private
- Heating: Forced Air
Description:
Attention Savvy Investors... Here's the sound real estate investment you have been looking for to add to your portfolio. Check out this 9,008 +/- sf ( 8,721 +/- sf net rentable area) one-story, four-unit commercial building sitting on 1.95 +/- acres. This property is well designed for medical professional services. You will appreciate this well constructed multi-tenant masonry and steel framed office building with a multi-angle pitched roof. This prime property offers 81 +/- parking spaces (including 4 designated for handicapped parking) on a macadam covered parking lot, pole-mounted lighting, concrete curbing and sidewalks and professional landscaping. The property is in the Zone X flood zone and the RP/LR-1 zoning district. The four (4) units layout are the following: Suite A - 1811 +/- sf , Suite B & C - 2391 +/- sf , Suite D - 1979 +/- sf and Suite E - 2352 +/- sf. Three of the four units are currently leased, and utilities are separately metered. The current gross annual income for the three leased units is $110,304 plus a pro-rata share of the expenses as additional income. Great location – walking distance to Inspira Medical Center and just minutes to Route 40 and Route 55. There is a 45kW natural gas powered Generac generator, which provides back-up power for Suites B and C . Great replacement property to complete a 1031 tax deferred exchange.
Location
Gallery
