506 N High Street

MILLVILLE, NJ 08332

  • 0 Bed(s)
  • 0 Bath(s)
  • 0 Sqft
  • 1189
    Sqft(Lot)
$199,900

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!

  • Property Type

    Multi-Family

  • County

    CUMBERLAND

  • Style

    Other

  • AD ID

    49548367

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Property Details

  • Water/Sewer

    • Water Source : Public

    Interior Features

    • Basement Description: Interior Access

    Heating & Cooling

    • Cooling: None
    • Heating: Radiant,Baseboard - Hot Water
    • Cooling Fuel: Electric
    • Heating Fuel: Natural Gas

  • Building Information

    • Year Built: 1920
    • Structure: Other
    • New Construction: No
    • Total Units: 3
    • Built: 1920
    • Construction Material: Frame
    • Architecture: Other
    • Pool/Private: No Pool

    Pool Information

    • Pool: No Pool

    Utility Features

    • Sewer: Public Sewer

    Water

    • Water Heat: Natural Gas

  • Lot Information

    • Lot Size: 1,189
    • Dimensions: 22.00 x 54.00
    • Lot Size (Acres): 0.03
    • Architectural Style: Other
    • Stories Total: 2
    • Main Square Feet: 1,189

    Property Information

    • SQ ft: 1,189
    • SQ ft (Living Area): 1,189
    • Total Lot SQ ft: 1,189
    • Financing: Cash,Conventional,Other
    • Appx. Lot Dimensions: 22.00 x 54.00
    • Total Acreage: 0.03
    • New Construction: No
    • Type: Other

  • Listing Information

    • Possession: Immediate
    • Days Of Market: 2

  • Tax Information

    • Annual Tax: $1,903
    • Tax Year: 2024
    • Total Taxes Payment Frequency: Annually

    Possession

    • Immediate

    Assessment Information

    • Taxes Assessment Amount: $48,500

  • Parking Information

    • Parking Type: On Street

    Multi-Unit Information

    • Acceptable Financing: Cash,Conventional,Other

    Homeowners Association Information

    • Direction: GPS.

  • School Information

    • School District: MILLVILLE AREA

    Utility Information

    • Water Source: Public
    • Sewer: Public Sewer
    • Cooling Fuel: Electric
    • Heating Fuel: Natural Gas
    • Hot Water: Natural Gas

    Location Information

    • Direction: GPS.
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BuyOwner last updated this listing 05/03/2025 @ 02:02

  • MLS: NJCB2023964
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: BRIGHT MLS

is a Other, with 0 bedrooms which is for sale, it has 0 sqft, 1,189 sized lot, and 0 parking. are nearby neighborhoods.