Current Use by Public Records
- Retail properties & Spaces
Property Details for 2139 Us-206
- Year built
- 1860
- Lot size
- 0.83 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Office Spaces
Description
This exceptional mixed-use property in Belle Mead, NJ, presents a compelling investment opportunity. The 3,245 square foot free-standing building, situated on approximately 0.83 to 0.97 acres of land on Route 206, features a medical office currently leased until April 30, 2027, with a five-year renewal option. The lease is a NNN (Net, Net, Net) agreement. Above the medical office are two vacant one-bedroom apartments, offering significant potential for increased income. The building, constructed in 1860 and renovated in 1960, boasts two stories and ample parking for fifteen or more vehicles. The property is zoned CC-2, allowing for a variety of permitted uses, including retail, offices, and small animal hospitals (with conditions). All three units have separate gas and electric meters; public water and a septic system are in place. Utilities are accessible from both the interior and exterior via the basement and partial basement. Separate entrances serve the commercial space and residential apartments. The property's strong location between Princeton and Hillsborough Townships, combined with its existing lease and apartment rental potential, makes it an ideal investment for owner-users or investors seeking a solid return. The pro-forma NOI is $70,768, and the pro-forma cap rate is 6.43%. The asking price is $1,100,000. Financial details are available upon request with a Non-Disclosure Agreement.
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Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.6623
- Latitude
- 40.4484
