Historic Colonial Mixed-Use
For Sale
$949,900
Pending
53 N Main St, Mullica Hill, NJ 08062
Historic Main Street Colonial with office space and residential units.
Property Size6,514 SF
Lot Size0.83 Acres
Days on Market682
Property Features for 53 N Main St
General Information
Standard status
Pending
Size
6,514 SF
Lot size
0.83 Acres
Taxes and HOA fees
Annual Taxes
$14,301
Listing Agency:
BHHS Fox & Roach-Mullica Hill South
(856) 343-6000
Listed By:
Patricia Settar · License #9588448
(856) 297-5790
Source:
Exprealty
Added: Nov 26, 2024
Changed: Sep 3
Last Checked: Sep 3 at 3:56AM
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 Colonial property, listed on the National Historic Register, is located on Main Street. The multi-use property includes professional office space and residential units. The main level features 1,820 square feet of executive-style office space with 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 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 living room, updated bedroom, and full bath with stall shower. Adjacent is a studio apartment, 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.
Key Highlights
- Income‑Producing Property: Multiple rental units (apartments, cottage, barn) provide substantial monthly income.
- Prime Main Street Location: High‑visibility location within an active business corridor.
- Historic Significance: Listed on the National Historic Register, offering unique character and prestige.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,138
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,522,760
$1.5M
Cap Rate 7%
$1,087,686
$1.1M
Cap Rate 9%
$845,978
$846.0K
Market Conditions
NOI Build-Up for 6,514 SF
Gross rent
$147.0K $22.56/SF
− Vacancy
−$8.5K −$1.31/SF
EGI
$138.4K $21.25/SF
− OpEx
−$62.3K −$9.56/SF
NOI
$76.1K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,522,760
Cap Rate 7%
$1,087,686
Cap Rate 9%
$845,978
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
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Open Analytics
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
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic Main Street Colonial with office space and residential units.
Where is this mixed-use property located?
The property is located at 53 N Main St 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: Income‑Producing Property: Multiple rental units (apartments, cottage, barn) provide substantial monthly income.; Prime Main Street Location: High‑visibility location within an active business corridor.; Historic Significance: Listed on the National Historic Register, offering unique character and prestige.
