608 High N St, Unit 616 Millville, NJ 08332-3025

Property Details for 608 High N St

Year built

1990

Lot size

0.18 lot acres

Property size

6,899 SF

Zone code

B-1

Property type

Commercial real estate

APN

10 00313-0000-00001

APU

1000313000000001

Description

This exceptional two-story, 6,899 sq ft office building in Millville, NJ, presents a remarkable investment opportunity. Located on a 0.306-acre lot at 608-616 N High St, this Class C property boasts 11 units, 22 parking spaces, and is currently vacant, offering immediate potential for high returns. Built in 1990, the building features two downstairs units, each with private bathrooms and reception areas, ideal for medical or professional services. Upstairs, nine designated office spaces (with potential for more) provide flexibility for individual tenants or a larger single tenant. A shared bathroom and kitchen area are also located upstairs. The property has historically generated significant rental income, exceeding $110,000 annually, with minimal operating expenses. The asking price is $325,000, representing a 10.05% cap rate and a pro-forma cap rate of 13.15%, with a pro-forma NOI of $42,732. The price per square foot is $47.11, and the price per unit is $29,545.45. This high-traffic location offers excellent visibility and accessibility, making it an ideal investment for both immediate income generation and long-term appreciation. Prior income/expense reports and upstairs floor plans are available upon request. The property is fee simple ownership.