520 Highway 33 - Apartments FOR SALE


Millstone Township, NJ 08535
$4,250,000 USD
646-408-8024
520 Highway 33, Millstone Township, NJ for Sale
$4,250,000 USD
Apartments - FOR SALE
1/44
null | 7.57% Cap Rate

520 Highway 33
Millstone Township, NJ 08535


HIGHLIGHTS

  • New Amazon Fulfillment Center Down the Street
  • 6.42 Acres
  • One of the Few Multi Family Properties in the Area
  • 19 Residential Units
  • Newly Remodeled Restaurant on New 5 Yr Lease with Options

OVERVIEW

19 Residential Units and a beautiful remodeled Restaurant on a new 5 year lease with options make this constantly in demand heavy cash flowing mixed use property on Rt 33 in Millstone ideal for any investor. On 6.4 acres and being situated right down the road from the new Amazon fulfillment center ensures a steady and constant stream of qualified renters. This is one of the few larger scale multi family properties in the area. There are 5 Buildings in total - 3 Apartment Buildings, 1 Restaurant and 1 Garage building. This Multi Family-Mixed Use property has a sought after outdoor park like setting and provides easy access to the GSP and NJ Turnpike. In addition to the Apartments and Restaurant there are several rented garages. Convenient Laundry Income provides a key amenity for rentersalong with the additional income. Residential rents are under market and are always rented as soon as they become available. Would be an excellent buy and hold property but also would be a great future development project with over $400K a year in gross income. Zoning is HC-1 Please contact Marc for detailed income and expenses

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$212 USD /SF

# OF UNITS

19

PRICE/UNIT

$223,684

CAP RATE

7.57%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

21 Unit Multi Family-Mixed Use on Rt 33

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.4 AC

LAND SF

278,784 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Marc WeitzFairclough RealtorsMore Info
646-408-8024

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Marc WeitzFairclough RealtorsMore Info
646-408-8024

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.