$550,000
$550,000
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980 Sqft Lot
SOLD DATE : 03/26/2018
Key Details
Sold Price $550,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
Subdivision Downtown
MLS Listing ID 1004138221
Sold Date 03/26/18
HOA Y/N N
Originating Board TREND
Year Built 1947
Annual Tax Amount $6,170
Tax Year 2017
Lot Size 980 Sqft
Acres 0.02
Lot Dimensions 28X70
Property Description
Business is not for sale - Restaurant tenant has 10 year gross lease whereas tenant pays for 1/2 taxes, 1/2 water /sewer & ccmua, and own maintenance. There are two 2br apartments above. Noted expenses below include half taxes, 1/2 water/sewer & ccmua. Also included is Insurance for the building, inspection fees, & maintenance at 7% of gross income. Total est expenses-16,267 The two apartments are currently vacant but rent projections for each are $1,250 p/m. Net Operating Income aprox $48,200. Cap rate- 8.76% Cash on Cash return aprox 8.6% ( includes 10k CC) Great Investment Property in the middle of Collingswood's Downtown.
Location
State NJ
County Camden
Area Collingswood Boro (20412)
Zoning CBD
Rooms
Other Rooms Primary Bedroom
Interior
Flooring Tile/Brick
Fireplace N
Heat Source Natural Gas, Electric
Exterior
Utilities Available Water Available, Sewer Available, Electric Available, Phone, Cable TV Available
Water Access N
Roof Type Pitched
Street Surface US Highway/Interstate
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Collingswood Borough Public Schools
Others
Tax ID 12-00030 01-00008
Ownership Fee Simple
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Bought with Patric J. Ciervo • Keller Williams - Main Street
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "