For Sale
$950,000

1590 5Th StEwing Township, NJ 08638

Multi-tenant income property, high occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents two buildings totaling 9,838 square feet on a 0.44-acre lot in Ewing Township, New Jersey. The property, located at 1590 5th St, 08638, is zoned IP 2 and boasts a strong 100% occupancy rate until September 30, 2024, generating a substantial Net Operating Income (NOI) of $58,500. Building 1, a two-story office building, houses three tenants, each responsible for their utilities. Building 2, a 5,038 square foot warehouse/garage, features an 18-foot clear height, seven vehicle lifts, and is currently used for auto repair. This building's tenant is on a month-to-month lease. Ample parking is available with 46 spaces, including 15 in front of Building 1 and 28 in the rear of Building 2. While Building 2 is situated within a floodplain, a functioning pump system mitigates flooding concerns. The property is situated in Subarea 8 of the Olden Avenue Redevelopment Plan. The asking price is $950,000 ($96.56/sq ft), and seller financing may be considered for qualified buyers with a suitable down payment. This multi-tenant, multi-use property offers significant upside potential for the savvy investor.

Highlights

  • Fully leased Class A buildings in the Olden Avenue Redevelopment Zone.
  • High-occupancy rate with strong, stable tenant base.
  • Prime location within the Olden Avenue Redevelopment Zone, offering significant upside potential.

Property Details for 1590 5Th St

Property type
Warehouses, Retail properties
Square Feet
9,838 SF
Year Built
1980
Buildings
2
Stories
2
Lot Size (sq. ft)
19,166 SF
Units
4

Location Insight

City
Ewing Township
County
Mercer
State
New Jersey
Latitude
40.246764125344
Longitude
-74.760342334137
1590 5Th St, Ewing Township, New Jersey

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1590 5Th St
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