31 Oak St Salem, NJ 08079

This two-story brick school facility features 11 rooms, 4 restrooms, an office, and a boiler room. Built in 1952, the building has a gross building area of 6,325 square feet and a floor plate of 3,163 square feet. The construction includes concrete block framing, brick exterior walls, and a slight pitch tar and gravel roof. Interior features consist of drywall and concrete block interior walls, acoustical tile and drywall ceilings, and glass windows in aluminum frames, and metal doors with glass in metal frames. The building is equipped with a gas-fired boiler radiant heat system and window unit air conditioning, with fluorescent and incandescent lighting. Currently situated on a 38,700 square foot lot, the owner will seek approval for a subdivision to include only the school and parking lot, resulting in a 22,521 square foot parcel. The parking area accommodates 24 surface spaces, with a ratio of 3.8 spaces per 1,000 square feet of net rentable area. The site coverage ratio is 14.0%, and the land to building ratio is 3.6:1. The seller requests limited shared use of parking on Sundays and certain special days. The property is located in Flood Zone X, outside the 100 and 500-year floodplains. The property is presently tax exempt. Assuming a buyer would use the property for some non-tax exempt purpose and the post subdivision total assessment would be $200,000 the estimated real estate tax would be $14,138.