Homes for sale - 506 N HIGH ST, Millville, NJ 08332

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Steven Pagan

Berkshire Hathaway HomeServices Fox & Roach, REALTORS®

steven.pagan@foxroach.com +1(609) 631-5668

$199,900

Est. payment - /mo

1,189 SqFt

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UPDATED:

02/20/2025 03:13 AM

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 1,189 sqft

Price per Sqft $168

MLS Listing ID NJCB2022650

Originating Board BRIGHT

Year Built 1920

Annual Tax Amount $1,903

Tax Year 2024

Lot Size 1,189 Sqft

Acres 0.03

Lot Dimensions 22.00 x 54.00

Property Sub-Type Mixed Use

Property Description

3-unit mixed use building in Millville's growing downtown, for less than $200,000.00! This is a steal of a deal with two store fronts and a 3 bedroom 1 bathroom apartment upstairs already renovated and rented. Upstairs brings in a gross annual rent of $18,900.00 per year. When rented, the two store fronts should bring in around $750.00 and $600.00 per month each based on market rents in the area, adding an additional $16,200.00 to the gross annual rent, totaling $35,100.00. What's even more remarkable is that this entire building has annual taxes less than $2,000.00 per year. The Cap Rate and Cash on Cash returns are both very attractive 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 to 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!

Location

State NJ

County Cumberland

Area Millville City (20610)

Zoning DOWNTOWN COMMERCIAL

Interior

Hot Water Natural Gas

Heating Radiant, Baseboard - Hot Water

Cooling None

Inclusions Appliances and utility systems in as is condition.

Heat Source Natural Gas

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Millville Area

Others

Tax ID 10-00356-00011

Ownership Fee Simple

SqFt Source Assessor

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Financing Cash,Conventional,Other

Special Listing Condition Standard

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Listed by Michael DePalma • DePalma Realty

Our passion for real estate and love for New Jersey are a perfect match. We have made it our mission to help local residents sell their homes quickly and at the best possible prices, and homebuyers in finding their perfect piece of paradise in New Jersey.

+1(609) 631-5668

steven.pagan@foxroach.com

352 Stokes Rd, Medford, NJ, 08055, USA

506 N HIGH ST Millville, NJ 08332