200 Route 73Berlin, NJ 08009

Property Details for 200 Route 73

Year built

1968

Lot size

0.49 AC

Property size (Sq ft)

1,628 SF

Zone code

C-3

Property type

Office buildings

APN

05 01210-0000-00007

APU

501210000000007

Description

This meticulously maintained commercial office building enjoys a highly visible location on Route 73 in Berlin, New Jersey. The 0.49-acre lot provides ample parking for clients and staff. Recent upgrades include a new roof (2021), updated HVAC system (2018), new rear steps and a new alarm system (2023) with a transferable three-year contract. The interior boasts a fresh and modern aesthetic, featuring all new carpeting and paint throughout. The flexible floor plan includes a welcoming reception area with a fireplace, six private offices, a well-appointed kitchenette, and thoroughly updated bathrooms. A large, dry basement offers additional storage or workspace potential. The building presents exceptionally well from the street, benefiting from excellent landscaping. A minimum three-year lease is required. With landlord approval, the space could be divided to accommodate two separate tenants. The property is also available for purchase. This is an exceptional opportunity for a business seeking a well-maintained, highly visible location with convenient access from all directions.

• CAP approach

  CAP return

  Valuation

  6%

  $502,286

  6.5%

  $463,649

  7%

  $430,531

• Comparable approach

  Method

  Valuation

  Relative Method

  $212,714

  Geo Method

  $212,714

• Alternative Use

  Use

  Valuation

  Residential

  $574,925

  Hospitality

  $526,628

  Educational

  $438,148

  Medical

  $453,217

  Retail

  $681,564

Location Insight

City

Berlin

County

Camden

State

New Jersey

Latitude

39.7957

Longitude

-74.9245

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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