Historic Colonial Mixed-Use
For Sale
$949,900
53 N MAIN STREET, Mullica Hill, NJ 08062
Historic 1860 Colonial with income-producing opportunities in prime location.
Property Size6,514 SF
Lot Size0.83 Acres
Price / SF$145.82
Days on Market612
Property Features for 53 N MAIN STREET
General Information
Standard status
Active
Size
6,514 SF
Lot size
0.83 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1800
Listing Agency:
BHHS Fox & Roach-Mullica Hill South
(856) 297-5790
Listed By:
Patricia Settar · License #9588448
(856) 297-5790
Source:
Exitrealty
Added: Nov 26, 2024
Changed: Jul 10
Last Checked: Apr 5 at 9:55PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS Fox & Roach-Mullica Hill South
Investment Insights
Based on property information with market context.
This historic 1860 Colonial, listed on the National Historic Register, is located on Main Street and is a cornerstone of the local business community. The multi-use property offers opportunities for investors and business owners. The main level of the primary residence, totaling 1,820 square feet, is available for use by an owner-occupant and features wide plank wood floors, elegant moldings, built-ins, private conference rooms, individual offices, a kitchen, and radiant gas heat. Both front and rear covered porches provide access, and there is ample off-street parking. Upstairs, the building houses three residential units, each with private access via a shared hallway or covered deck. A 745-square-foot second-floor apartment includes a spacious living room, updated bedroom, and full bath with stall shower. Adjacent is a freshly updated studio apartment, currently used as a media room, with a full bath, new carpeting, and fresh paint. The third-floor unit spans 705 square feet and includes a bedroom, full bath, living room, dining area, kitchen, and private deck. At the rear of the property is a private cottage, the original Gloucester County law office, surrounded by mature landscaping and a gazebo. Also on the property is a two-story historic barn, built in 1860, offering 2,567 square feet of space with T-III siding, a metal roof, semi-split heating and air, and exposed wood rafters. The barn includes three large open rooms with built-ins and a professionally waterproofed basement. The well-maintained property totals 6,514 square feet and is located within an active Main Street business corridor. The first-floor space is available May 22. The second-floor apartment and studio are available now. The cottage and barn are leased.
Key Highlights
- Historic 1860 Colonial on the National Historic Register, offering unique character and prestige.
- Income‑producing property with multiple rental units (apartments, cottage, and barn) generating substantial monthly income.
- Prime Main Street location with high visibility and access to the local business community.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.0k | $22.56 |
| − Vacancy | −$8.5k | −$1.31 |
| EGI | $138.4k | $21.25 |
| − OpEx | −$62.3k | −$9.56 |
| NOI | $76.1k | $11.69 |
6,514 SF · lease $22.56/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,727 @ 7.0% cap · market cap 10.81%
Second Best
Apartment 5plus
$1.09M
$951.7K – $1.27M
NOI $76,138 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$2.19M
$1.92M – $2.55M
NOI $153,273 @ 7.0% cap · market cap 16.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 08062, NJ
17,446
Population
5,796
Households
3
Avg Household Size
40
Median Age
54%
College-Educated
95%
High-School Grad
32.2 sq mi
ZIP Area
542
Density / Sq Mi
$159,386
Median Household Income
$74,254
Median Earnings
$1,097
Median Rent
$468,600
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic 1860 Colonial with income-producing opportunities in prime location.
Where is this mixed-use property located?
The property is located at 53 N MAIN STREET Mullica Hill, NJ.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Historic 1860 Colonial on the National Historic Register, offering unique character and prestige.; Income‑producing property with multiple rental units (apartments, cottage, and barn) generating substantial monthly income.; Prime Main Street location with high visibility and access to the local business community.
