Description
Great News... Seller successful with tax appeal resulting in a $1.55 million dollar reduction in assessed value and over $100,000 per year is property tax savings! Attention Investors - Take a good look at this Value Add Opportunity of a 42,252 +/- square foot Neighborhood Shopping Center on 6.52 +/- acres with 602' frontage on Broadway (Route 49) and current tenants including TD Bank, Dollar Tree, Cell Talk and Ella's Mama Mia Restaurant. Approximately 25,000 +/- of leasable space available, 2 loading docks in the anchor space and 550 parking spaces available. The property is currently 40% occupied by four (4) tenants ranging in size from 3007 sf to 7819 sf. Current owner has recently invested $150,000 in improvements including new LED outside lighting, special roof coating and parking lot improvements. Rent roll available with signed Non-Disclosure Agreement. Salem City is a New Jersey Tax Opportunity Zone.
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0BEDS
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6.51ACRES
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0BATHS
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01/2 BATHS
Description
Great News... Seller successful with tax appeal resulting in a $1.55 million dollar reduction in assessed value and over $100,000 per year is property tax savings! Attention Investors - Take a good look at this Value Add Opportunity of a 42,252 +/- square foot Neighborhood Shopping Center on 6.52 +/- acres with 602' frontage on Broadway (Route 49) and current tenants including TD Bank, Dollar Tree, Cell Talk and Ella's Mama Mia Restaurant. Approximately 25,000 +/- of leasable space available, 2 loading docks in the anchor space and 550 parking spaces available. The property is currently 40% occupied by four (4) tenants ranging in size from 3007 sf to 7819 sf. Current owner has recently invested $150,000 in improvements including new LED outside lighting, special roof coating and parking lot improvements. Rent roll available with signed Non-Disclosure Agreement. Salem City is a New Jersey Tax Opportunity Zone.
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