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228 W Delaware Ave Pennington, NJ 08534

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For Sale
$975,000

Mixed-use property featuring a bank lease and residential apartments.

Property size:
3,509 SF
Lot size:
0.42 Acres

Property Features for 228 W Delaware Ave

General Information

Size
3,509 SF
Lot size
0.42 Acres

Source: Fennelly Associates Agent Gerard J. Fennelly

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Mixed-Use Property with Bank Lease

This mixed-use property is located at the corner of W. Delaware and Route 31. The building has a total area of 3,509 square feet and includes a bank that leases 1,374 square feet under an absolute net lease. The lease term is from May 1, 2022, to April 30, 2027, and includes a security deposit of $3,600. The lease has one renewal option for 5 years with 3% annual increases, requiring 9 months' notice. In addition to the commercial space, the property features three apartments, two of which are currently vacant. There are 19 parking spaces available. The property has a lot size of 125 feet by 173.84 feet. Recent improvements include a new roof installed 10 years ago and a parking lot updated 3 years ago. The existing net operating income (NOI) is $70,000.
Insight Report Location Intelligence

Current Use by Public Records

Banks

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Clothing Store Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Pennington
County
Mercer
State
New Jersey
Longitude
-74.7993853
Latitude
40.3271392

FAQs

What type of property is this?
Bank - Mixed-use property featuring a bank lease and residential apartments.
Where is this bank located?
The property is located at 228 W Delaware Ave Pennington, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: - Existing NOI: $70,000; - Bank Leases 1,374 SF – Absolute Net Lease until 4/30/27; - 3 Apartments; 2 Vacant
More about this property
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