242 Us 206 Byram Township, NJ 07821
- Retail properties
- 1,500 SF
- 0.25 lot acres
Current Use by Public Records
- Retail properties
Property Details for 242 Us 206
- Year built
- 1950
- Lot size
- 0.25 lot acres
- Property size
- 1,500 SF
- Property type
- Retail properties
- Property subtype
- Land
Description
This exceptional owner-user opportunity presents a well-established auto repair business in Byram Township, NJ. The 1,500 square foot building, situated on a 0.25-acre lot at 242 US 206, boasts three service bays and ample parking for 25 vehicles. With a 100% occupancy rate and a strong NOI of $225,000, generating a 40.98% cap rate, this property offers significant financial returns. The asking price is $549,000, translating to $366 per square foot. Built in 1950, the single-story building features a 12-foot ceiling height and is zoned N-C. The property benefits from its location on a high-volume road with daily traffic exceeding 12,000 cars. Furthermore, the upcoming completion of the Andover train station in 2026 is projected to increase business and residential growth in the area, enhancing the property's long-term value. The current tenant, Byram Auto Repair, has operated successfully at this location for over 36 years. Low annual property taxes of $8,200 further contribute to the property's profitability. This is a rare opportunity to acquire a thriving business with significant upside potential in a rapidly developing area. The sale includes all existing equipment and fixtures. The property is currently under a single tenancy with a credit-rated tenant and an occupancy date of December 1, 2024.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Byram Township
- County
- Sussex
- State
- New Jersey
- Longitude
- -74.7344
- Latitude
- 40.951
