3201 Route 38Mount Laurel Township, NJ 08054

Property Details for 3201 Route 38

Lot size

1.02 AC

Property type

Other commercial real estate

APN

24 00301- 23-00026

APU

24003012300026

Description

This exceptional investment opportunity presents a fee-simple ownership chance for an eight-suite professional office building situated at 3201 Route 38 in Mount Laurel Township, New Jersey. The 8,000 square foot, two-story Class B building, constructed in 1987, sits on a 1.02-acre lot and boasts 35 parking spaces. Currently, 60% occupancy (five of eight units) is projected to reach full occupancy by July 9, 2024. Each of the eight units features a private restroom and basement storage. The building is independently metered for electricity, cable, and a portion of water and sewer costs, ensuring efficient utility management. The property benefits from high visibility due to its location on Route 38, adjacent to the Larchmont Shopping Center, and enjoys easy access to major roadways including Routes 70, 73, 38, and 206, Interstate 295, the NJ Turnpike, and the Atlantic City Expressway. Its prime location offers proximity to numerous amenities, including the Centerton Square Shopping Center, Promenade Shopping Center, Cherry Hill and Moorestown Malls, and a variety of restaurants and shops. The asking price is $1,150,000, translating to $143.75 per square foot. The property is zoned COM and features a full basement. This presents a compelling opportunity for owner-occupancy or investment, offering strong potential for rental income and appreciation. The building's condition is above average, and all aspects meet or exceed code.

• Alternative Use

  Use

  Valuation

  Residential

  $11,431,174

  Hospitality

  $10,470,894

  Educational

  $8,711,661

  Medical

  $9,011,268

  Retail

  $13,551,473

Location Insight

City

Mount Laurel

County

Burlington

State

New Jersey

Latitude

39.9704

Longitude

-74.8825

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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