1507 Route 206 Tabernacle, NJ 08088
- Commercial real estate
- 1,668 SF
- 2.80 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1507 Route 206
- Year built
- 1978
- Lot size
- 2.80 lot acres
- Property size
- 1,668 SF
- Property type
- Commercial real estate
- APN
- 35 00204-0000-00001- 02
- APU
- 350020400000000102
Description
This exceptional 2,350 sq ft commercial property, situated on a prime 2.8-acre lot on Route 206 in Tabernacle, NJ, presents a rare investment opportunity. Currently operating as a used car lot, the building boasts significant street-level visibility and high traffic counts (estimated 15,000-20,000 vehicles daily, higher on weekends) due to its strategic location near a lighted intersection. Previously a bank, the property retains its original vault, adding unique character. Ample parking is available, with space for approximately 60 vehicles in the rear, in addition to front parking. The building features a recently installed well (well tank 4/23/24, well pump 7/22/24), a less-than-two-year-old roof, a 200-amp electrical service with a charging station, and a solar panel system (owned, not leased) generating income. The interior includes a large reception area (30' x 12'), four large offices (with potential for more), a full kitchenette, and a spacious 480 sq ft attic for storage. The building's architectural features include acoustical ceiling tiles, recessed fluorescent lighting, and numerous windows providing ample natural light. The property's zoning allows for flexibility in use, with potential for a variety of businesses, including professional offices, retail, daycare, or even a smaller pad site. Its proximity to major shopping centers (Promenade, Moorestown Mall, Cherry Hill Mall) and convenient access to Philadelphia and Atlantic City airports further enhance its appeal. The property is being sold "as is," with the owner providing a well certificate. The buyer will be responsible for obtaining necessary certifications and permits. The owner may also consider selling the existing used car business separately.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $275,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $250,000
- 6.5%
- $215,000
- 7%
- $220,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $205,000
- Geo Method
- $235,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $245,000
- Retail
- $220,000
- Mixed-Use
- $220,000
- Hospitality
- $265,000
- Educational
- $225,000
- Residential Income
- $210,000
- Energy
- $230,000
- Income-Based Land
- $210,000
- Food Service
- $270,000
Location Insight
- Map
- Local Demand
- City
- Tabernacle
- County
- Burlington
- State
- New Jersey
- Longitude
- -74.7348
- Latitude
- 39.8504
- CBSA code
- 37980
- CBSA name
- PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA
