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    73 Maskells Mill Rd Salem, NJ 08079

    Sponsored
    For Sale
    $850,000

    6,200 SF Vacant Building, Huge Potential

    Property size:
    6,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 6,200 square foot commercial property, located at 73 Maskells Mill Road in Salem, New Jersey, presents a unique investment opportunity. Currently vacant, the building boasts a rich history as the former Wave Maker 4 Swim Club and offers a versatile layout ideal for various uses. The property includes a large indoor pool, ample office space, workout rooms, and restroom facilities. Situated on a generous 3.85-acre lot with 136 feet of road frontage, the property enjoys excellent visibility and accessibility. A significant advantage is the presence of an income-generating solar array, comprising 756 solar panels and two 75 kW solar inverters located at the pool, providing substantial monthly income. The property is zoned Village Residential (VR), offering flexibility for adaptive reuse. Ample paved parking is available on-site. The asking price is $850,000. This property is perfect for an investor seeking a strong return on investment or a business owner looking for a unique and well-equipped space. The combination of the building's features, the solar array's income potential, and the strategic location makes this a compelling opportunity in the Salem, New Jersey market.

    Property Features for 73 Maskells Mill Rd

    General Information

    Property type
    Specialty properties
    Square Feet
    6,200 SF
    Lot Size
    167,706 SF

    HighLights

    • 6,200 SF commercial building on 3.85‑acre lot in Salem, NJ.
    • Currently vacant, former swim club with indoor pool, office space, workout rooms, and restrooms.
    • Features a 756‑panel solar array generating substantial monthly income.
    • 136 feet of road frontage, ample paved parking, and excellent visibility.
    • Zoned Village Residential (VR), allowing for adaptive reuse.
    • Asking price: $850,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Salem
    State
    New Jersey
    Longitude
    -75.4288658
    Latitude
    39.4961717

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    FAQs

    What type of property is this?
    Specialty property - 6,200 SF Vacant Building, Huge Potential
    Where is this specialty property located?
    The property is located at 73 Maskells Mill Rd Salem, NJ.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: 6,200 SF commercial building on 3.85-acre lot in Salem, NJ.; Currently vacant, former swim club with indoor pool, office space, workout rooms, and restrooms.; Features a 756-panel solar array generating substantial monthly income.
    Request Owner's contact information
    73 Maskells Mill Rd Salem, NJ 08079
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    Salem, NJ 08079
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    73 Maskells Mill Rd Salem, NJ 08079
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