318 BroadwaySalem, NJ 08079
- Retail properties
- 4,000 SF
Property Details for 318 Broadway
- Property size (Sq ft)
- 4,000 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional Salem, New Jersey storefront presents a compelling investment opportunity. Located at 318 E Broadway, 08079, this single-story, 4,000 square foot building boasts a 9.00% cap rate and is currently 100% occupied by a long-term tenant, Sherwin Williams. The tenant has a lease extending through September 30, 2025, with a remaining term of one year. The property enjoys a stable rental history, generating an annual income of $32,760. The lease is a modified agreement, with the tenant responsible for water, sewer, electricity, heat, and a significant portion of property taxes and insurance. This well-maintained building represents a low-risk, high-return investment, ideal for adding to a diversified portfolio. The asking price is $249,000, reflecting a recent $50,000 price reduction. This prime retail location in Salem County offers excellent visibility and accessibility. The property's strong tenant history and favorable lease terms make it an attractive proposition for discerning investors seeking a stable and profitable addition to their holdings. Don't miss this chance to acquire a high-performing commercial property in a desirable New Jersey market.
Location Insight
- City
- Salem
- County
- Salem
- State
- New Jersey
- Latitude
- 39.5676
- Longitude
- -75.4622
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