Address
129 N High Street N, Millville, NJ
Price
$ 350,000
Property Attributes
- MLS#NJCB2017864
- TypeMulti-Family
- CountyCUMBERLAND
- CityMillville
- AreaMillville City
- Zip08332
- Style
- Year Built1919
- Taxes$ 8550
- Price$ 350,000
- Bedrooms3
- Full Bathrooms0
- Half Bathrooms0
- Lot Size8,712 SqFt
Data Source:
Bright MLS
Property Description
5 Unit Mixed Use Commercial building in arguably the best and most strategic location on High St in Downtown Millville, fueled by redevelopment all around and directly across from the amazing Levoy Theater and newly renovated Fath Building. The building is comprised of 3 commercial units downstairs and 2 residential units upstairs. The residential units are a 2 bedroom, 1.5 bathroom unit and a 1 bedroom, 1 bathroom unit. All units, including the commercial spaces, are currently occupied. Downstairs you will find a barber shop in Unit A, an upcycling furniture store called Introducing Vicky, in Unit B, and a photography studio in Unit C. The City Tax assessor does not have actual sqft numbers but each commercial unit is roughly 1000 sqft estimated. Buyers should confirm sqft. The current rent roll is just under $5,000 per month and rents have room to go up. The building is fully electric so all utilities outside of water/sewer are paid by the tenants in the leases. The owner pays taxes, building insurance, and water/sewer. I have a PnL breakdown for interested and qualified buyers. All around this building you will notice revitalization happening, from the Levoy and the Fath to some of the most successful businesses in the Downtown in the first and second block. Millville is slated also to see an increase in the coveted dining sector right around this location in the coming years, further cementing this property as a prime location for commercial tenants moving forward. Whether you are a business owner looking to relocate and have your expenses covered by the other tenants, or a pure investor looking for both a cash flow and appreciation play, this building is definitely worth a look!
| Price History | |
|---|---|
| 4/25/2024 | Listed $350,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Baseboard - Electric |
| Cooling | Central A/C,Ceiling Fan(s),Wall Unit |
| Possession | Settlement |
| Roof | Flat,Shingle |
| Zoning | B-3 |
| Pool Y/N | No Pool |
| Architectural Style | Other |
| Construction Materials | Brick |
| Year Built | 1919 |
| Property SubType | Other |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| OwnerPays | Insurance,Repairs,Sewer,Taxes - Real Estate,Trash Collection,Water |
| Accessibility | None |
| County | CUMBERLAND |
| Net Operating Income | 40874.00 |
| New Construction | No |
| Property Type | Multi-Family |
| Garage Y/N | No |
| Water Access Y/N | No |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | GPS |
| ModificationTimestamp | 2024-04-25T10:40:45 |
| City | MILLVILLE |
| Buyer Agent Compensation | 2.5 |
| Total Units | 2 |
| MLS Area | Millville City (20610) |
| Lot Size Square Feet | 8747.00 |
| Tax Assessed Value | 219700.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 5 |
| Street Name | HIGH |
| Tax Annual Amount | 8550.0 |
| Two Bedroom | 1 |
| Structure Type | Over Storefront |
| One Bedroom Units Count | 1 |
| Price Per Sq Ft | 82.35 |
| Acceptable Financing | Cash,Conventional,Other |
| Rent Control Y/N | No |
| Vacation Rental Y/N | No |
| Total SQFT | 4250 |
| Days on Market | 6 |
| Lease Type | Long Term,Escalate Clause |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 00027 |
| Total Actual Rent | 58824.00 |
| Cap Rate | 11.68 |
| Buyer Agent Compensation Type | % Of Gross |
Interior Features
| Heating Fuel | Electric |
|---|---|
| Basement | Interior Access |
| Hot Water | Electric |
| Total Stories | 2 |
| Furnished Units | None |
| Basement (Y/N) | Yes |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | STREET |
| Central Air Y/N | Yes |
| LivingAreaSource | Estimated |
Exterior Features
| Water Source | Public |
|---|---|
| Inclusions | Seller owned fixed items,appliances,and utility systems. |
| Type of Parking | On Street |
| Foundation Details | Stone |
| Water View Y/N | No |
| Lot Dimensions | 53.00 x 165.00 |
| Lot Size Acres | 0.20 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 25500.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 08332
Price
Taxes
Visits
Year Built
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Last Updated: May 5, 2024 3:50 PM UTC
