21 Forklanding RdMaple Shade, NJ 08052

Property Details for 21 Forklanding Rd

Year built

1950

Construction

BRICK

Lot size

0.71 AC

Property size (Sq ft)

4,680 SF

Property type

Banks

APN

19 00060-0000-00003

APU

1900060000000003

Description

This 4,378 square foot vacant retail building at 21 N Forklanding Road in Maple Shade, New Jersey, presents a unique investment opportunity. The property, a former freestanding bank, sits on a 0.71-acre lot and offers substantial parking with approximately 27 spaces. Its Downtown Business (DB) zoning allows for a wide variety of permitted uses. The building boasts high visibility due to its location and prominent signage, including a freestanding pylon sign on N Forklanding Road and a monument sign on Wallace Avenue. Convenient back access to residential neighborhoods and proximity to a municipal parking lot further enhance its appeal. The property is delivered "as is," free and clear of any tenancies, and includes a deed restriction against financial institutions for two years. This location is designated as an area in need of redevelopment, is eligible for neighborhood preservation programs, and is within a Housing and Mortgage Finance Agency targeted municipality and a smart growth area. The asking price is $700,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,180,480

  6.5%

  $1,089,670

  7%

  $1,011,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $635,948

  Geo Method

  $635,948

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,089,190

  Mixed-Use / Specialty

  $1,100,240

  Hospitality / Lodging

  $826,028

  Office

  $1,108,760

  Institutional / Educational

  $1,148,970

  Residential Income

  $1,344,300

  Multifamily

  $1,532,150

  Automotive / Energy

  $984,832

  Parking / Income-Based Land

  $325,574

  Restaurant / Food Service

  $603,089

  Healthcare / Senior Housing

  $1,113,450

Location Insight

City

Maple Shade

County

Burlington

State

New Jersey

Latitude

39.9563

Longitude

-75.0021

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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