125 Broadway Salem, NJ 08079-1323
- Commercial real estate
- 0.58 lot acres
Current Use by Public Records
- Salem City Clerk / City Government Office
Property Details for 125 Broadway
- Year built
- 1985
- Construction
- BRICK
- Lot size
- 0.58 lot acres
- Property type
- Commercial real estate
- APN
- 13 00059-0000-00003
- APU
- 1300059000000003
Description
This exceptional executive office building, located at 125 W Broadway in Salem, New Jersey, presents a unique investment opportunity. The property boasts a total of 9,248 square feet, encompassing 6,141 square feet of office space and an additional 3,107 square feet of basement space. The building sits on a 0.5979-acre lot and is zoned C1, allowing for a variety of commercial uses. Ample parking is available, with 58 spaces serving both 125 and 127 W Broadway. The property's strategic location in Salem, within Passaic County, offers convenient access to major transportation routes and a thriving business community. This is an ideal opportunity for businesses seeking a substantial and well-maintained office space in a desirable location. The property's size and zoning provide flexibility for a range of business needs. The inclusion of significant basement space adds versatility for storage, additional office space, or other operational requirements. The ample parking ensures convenient access for employees and clients. This property is ready for immediate occupancy and presents a compelling investment opportunity in a growing market. The adjacent property at 127 W Broadway, while not included in this sale, offers an additional 1,670 square feet on a 0.3283-acre lot and is also zoned C-1. This presents a potential expansion opportunity for a larger business. The zip code is 08079.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $500,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $430,000
- 6.5%
- $380,000
- 7%
- $385,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $395,000
- Geo Method
- $430,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $385,000
- Retail
- $360,000
- Mixed-Use
- $345,000
- Hospitality
- $440,000
- Educational
- $445,000
- Residential Income
- $410,000
- Energy
- $385,000
- Income-Based Land
- $410,000
- Food Service
- $390,000
Location Insight
- Map
- Local Demand
- City
- Salem
- County
- Salem
- State
- New Jersey
- Longitude
- -75.4696
- Latitude
- 39.5721
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
