123 Main St South River, NJ 08882
- Commercial real estate
- 3,039 SF
- 0.15 lot acres
Current Use by Public Records
- South River Medical Associates / Medical Clinic / Cardiologist
- Dr. Sigmund L. Kulessa Jr, DO / Family Practice Physician
- Central Jersey Respiratory Cr / Medical Clinic
- Dr. Alexandra C. Caracitas, DO / Doctor
- Girgis Family Medicine - Dr Linda Girgis / Family Practice Physician / Doctor
Property Details for 123 Main St
- Year built
- 1915
- Lot size
- 0.15 lot acres
- Property size
- 3,039 SF
- Property type
- Commercial real estate
- APN
- 23 00147-0000-00039
- APU
- 2300147000000039
Description
This exceptional commercial property, located at 123 Main Street in South River, presents a unique investment opportunity. The property encompasses a 4,000 square foot building situated on a 3,500 square foot lot, zoned for office use. The building is a two-story structure with a single tenant occupancy. The existing space is ideally suited for medical or professional office use, featuring approximately 1,200 square feet of well-designed office space. This includes a dedicated reception/waiting area, four individual offices, and a convenient bathroom. The property boasts ample parking with three spaces available for tenants and visitors. The property's location on Main Street ensures high visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in a thriving community. The APN is 23001470000000401. This is a single-tenant building with no additional suites. The property type is classified as Land and Office, with a commercial and executive office subtype. This presents a rare opportunity to acquire a well-maintained and strategically located commercial property in a desirable area. The building's existing layout and features offer immediate occupancy potential, minimizing upfront investment and maximizing return.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $690,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $640,000
- 6.5%
- $580,000
- 7%
- $645,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $625,000
- Geo Method
- $580,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $735,000
- Retail
- $625,000
- Mixed-Use
- $745,000
- Hospitality
- $685,000
- Educational
- $575,000
- Residential Income
- $740,000
- Energy
- $725,000
- Income-Based Land
- $530,000
- Food Service
- $560,000
Location Insight
- Map
- Local Demand
- City
- South River
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.3836
- Latitude
- 40.4495
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
