Homes for sale - 519 LAKEHURST RD, Browns Mills, NJ 08015

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Alee Heidar

alee.heidar@engelvoelkers.com +1(206) 966-1792

$ 1,170,000

Est. payment -/mo

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Pending

519 LAKEHURST RD Browns Mills, NJ 08015

12,800 SqFt

UPDATED:

12/20/2024 03:23 PM

Key Details

Property Type Commercial

Sub Type Retail

Listing Status Pending

Purchase Type For Sale

Square Footage 12,800 sqft

Price per Sqft $91

MLS Listing ID NJBL2057998

Originating Board BRIGHT

Year Built 1978

Annual Tax Amount $31,109

Tax Year 2023

Lot Size 17.800 Acres

Acres 17.8

Property Description

CAME BACK ON THE MARKET. Prime investment property. 2.0 ac with 12,800 sf strip center retail building and 15.7 ac wooded property in Browns Mill, NJ. There are 16 units with 65 parking spaces. Now 70% of occupancy but still the cap rate is 7.6%. When you make more tenants, your cap rate will be 9%. The tenants are a Pizza restaurant, a Chinese restaurant, a Laundromat, a Dry Cleaner, a Doctor's office, a Barbershop, an SPA, and churches. This property has 4 lots (20, 25, 26, 27); 2 lots (25, 26) are part of the Plaza, and the remaining 2 lots consist of 15 acres of undeveloped land and an access road. The 2023 appraisal value was $1,400,000. The property's soil contamination is currently undergoing treatment. If the issue persists after the sale, the seller plans to contribute a certain amount to the escrow. If the buyer commits to resolving this issue, negotiations on the price are possible.

Location

State NJ

County Burlington

Area Pemberton Twp (20329)

Zoning COMMERCIAL

Interior

Hot Water Natural Gas

Heating Central

Cooling Central A/C

Heat Source Natural Gas

Exterior

Garage Spaces 65.0

Water Access N

Accessibility 2+ Access Exits

Total Parking Spaces 65

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Pemberton Township Schools

Others

Tax ID 29-00857-00026, 29-00857-00025, 29-00857-00027

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

Listed by Jukab Seo • Realty Mark Advantage

Alee Heidar

Principal Broker | License ID: 126102

+1(206) 966-1792

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