22 Center St Merchantville, NJ 08109
- Commercial real estate
- 0.17 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 22 Center St
- Construction
- BRICK
- Lot size
- 0.17 lot acres
- Property type
- Commercial real estate
- APN
- 24 00057-0000-00030
- APU
- 2400057000000030
Description
This exceptional mixed-use property at 22 Centre Street in Merchantville, NJ, presents a lucrative investment opportunity. The building boasts 2,584 square feet on a 0.06-acre lot and is currently generating strong rental income. The ground floor comprises a thriving juice bar, occupying a spacious commercial area previously used as a floral shop. A significant feature is a large greenhouse located at the rear of the commercial space. The current tenant also leases the second-floor residential unit, providing a streamlined rental management system. The second floor offers a spacious three-bedroom, one-bathroom apartment with high ceilings, hardwood floors in excellent condition, a large kitchen, and a stackable laundry unit. A convenient office space, accessible from both the first and second floors, leads to roof access. The property also includes a large, clean basement. The building is equipped with two gas meters and two electric meters, reflecting the separate utility services for the commercial and residential spaces. The current rental income is $2,200 per month ($1,100 commercial, $1,100 residential). The property's versatility allows for a wide range of commercial uses, including but not limited to nail salons, boba tea shops, hair salons, barber shops, and delis. Prospective buyers are responsible for verifying zoning regulations and permitted business types, as well as confirming school district information. This is a turnkey investment with significant potential for growth and return.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $260,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $250,000
- 6.5%
- $250,000
- 7%
- $215,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $235,000
- Geo Method
- $260,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $190,000
- Retail
- $225,000
- Mixed-Use
- $225,000
- Hospitality
- $230,000
- Educational
- $195,000
- Residential Income
- $215,000
- Energy
- $205,000
- Income-Based Land
- $195,000
- Food Service
- $200,000
Location Insight
- Map
- Local Demand
- City
- Merchantville
- County
- Camden
- State
- New Jersey
- Longitude
- -75.0495
- Latitude
- 39.9532
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
