204 Philadelphia Avenue Unit 1, Egg Harbor City, NJ 08215

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Property Description

Great opportunity for an investor offering close to 15 percent CAP rate and upside potential with lease renewals and annual rent increases. Current pro forma projection is $88k in annual gross income, and long term tenants will stay with new owner. Fully leased office building with 3 long-term medical tenants on the first floor and 2 residential tenants upstairs. Dentist with 3 operatories, a chiropractor and a family medical practice occupy the entire 1st floor. 1 one-bedroom apartment and 1 two-bedroom apartment upstairs with separate utilities. Ideally located in the heart of the main downtown business and shopping district. Parking for 4 cars in the rear and plenty of free street parking in front. Long term tenants will stay with new owner. Upside in rental income with lease renewals and annual increases.

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Egg Harbor City
Egg Harbor
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Does not include any taxes or fees.
Please consult a financial professional.

Listing courtesy of Scott Realty Group.

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