NJ > Millville
Millville, NJ 08332,506 N HIGH ST
Millville, NJ 08332,506 N HIGH ST
Millville, NJ 08332,506 N HIGH ST
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Listed by Michael DePalma • DePalma Realty
$199,900
Est. payment /mo
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1,189 SqFt
New

506 N HIGH ST Millville, NJ 08332

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Square Footage 1,189 sqft

Price per Sqft $168

MLS Listing ID NJCB2023964

Style Other

Abv Grd Liv Area 1,189

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $1,903

Tax Year 2024

Lot Size 1,189 Sqft

Acres 0.03

Lot Dimensions 22.00 x 54.00

Property Sub-Type Other

Property Description

3-unit mixed use building in Millville's growing downtown, for less than $200,000.00! Taxes under $2,000 per year! The property offers a 10%+ cap rate at current rents with plenty of room to grow. This property is 3 units, with two store fronts and a 3 bedroom 1 bathroom apartment upstairs already renovated and rented. The two storefronts were recently leased to great tenants on 3 year leases with rent increases for each year. Each storefront will also be renovated by the future tenants. Upstairs brings in a gross annual rent of $18,900.00 per year. In total, gross annual rents for the next twelve months will be $26,100.00. The Cap Rate and Cash on Cash returns are both very attractive on current and on a pro forma basis. Situated next to the phenomenal DC Gallery & Studio and across from the Village on High, this property is ready to take on new life with new ownership. The upstairs 3 bedroom apartment was recently completely rehabbed and a new gas boiler was installed for the building just a few days ago. Take advantage of this deal and be part of High Street before all the other development takes place and the barrier to entry becomes too high! With instant cash flow and potential to generate much more into the future, this building is a fantastic investment for both the new and experienced investor. Schedule a showing today!

Location

State NJ

County Cumberland

Area Millville City (20610)

Zoning DOWNTOWN COMMERCIAL

Rooms

Basement Interior Access

Interior

Hot Water Natural Gas

Heating Radiant, Baseboard - Hot Water

Cooling None

Inclusions Appliances and utility systems in as is condition.

Fireplace N

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

Architectural Style Other

Additional Building Above Grade

New Construction N

Schools

School District Millville Area

Others

Tax ID 10-00356-00011

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Financing Cash,Conventional,Other

Special Listing Condition Standard

Bright MLS (BMLS)

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agent

Jonathan Greene

Team Leader | License ID: 1433604

+1(973) 873-0734

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