317 Shell RdPenns Grove, NJ 08069

Property Details for 317 Shell Rd

Year built

1978

Lot size

1.07 AC

Property size (Sq ft)

2,288 SF

Property type

Office properties

Property subtype

Office buildings

APN

02 00144-0000-00017

APU

200144000000017

Description

This stunning brick colonial-style executive office building, situated on a one-acre lot in Penns Grove, New Jersey, presents a unique investment opportunity. Boasting 2,288 square feet, the property features three prestigious executive offices, a spacious central waiting area, a large library/conference room, and two powder rooms. Three additional accessory offices provide ample workspace. The building is equipped with Verizon phone service and LAN internet access. Recent upgrades include a complete renovation in 2024, featuring new Andersen replacement windows and blinds throughout, and a new front entryway and door. A back powder room was updated three years prior with a modern stand-up shower, and exterior doors were replaced with steel doors and trim within the last five years. The property is zoned LC - Light Commercial, allowing for a variety of uses including professional and business offices, retail, banks, personal services, and medical/dental clinics. Its convenient location offers easy access to major transportation arteries, including the Delaware Memorial Bridge, NJ Turnpike (exit 1), I-295, and Route 322/PA Bridges. The asking price is $475,000. This property represents a compelling opportunity for businesses seeking a high-visibility location with significant potential.

• CAP approach

  CAP return

  Valuation

  6%

  $977,827

  6.5%

  $902,610

  7%

  $838,138

• Comparable approach

  Method

  Valuation

  Relative Method

  $485,225

  Geo Method

  $298,950

• Alternative Use

  Use

  Valuation

  Residential

  $1,119,236

  Hospitality

  $1,025,214

  Educational

  $852,966

  Medical

  $882,301

  Retail

  $1,326,836

Location Insight

City

Penns Grove

County

Salem

State

New Jersey

Latitude

39.708

Longitude

-75.4698

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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