227 BroadwaySalem, NJ 08079

Property Details for 227 Broadway

Year built

1940

Lot size

0.40 AC

Property type

Gas stations

APN

13 00062-0000-00003

APU

1300062000000003

Description

This exceptional commercial property at 227 E Broadway in Salem, NJ presents a unique investment opportunity. The 1,925 square foot building has served as a thriving tire store for over 25 years, boasting a proven track record and established clientele. The sale includes the existing business, allowing for immediate continuation of operations. The property sits on a sizable 0.4-acre lot, providing ample space for inventory storage, customer parking, and potential expansion. The building itself is in good condition and features two newer gas heaters, ensuring efficient and cost-effective operation. Additional storage space is conveniently located at the rear of the building. This turnkey operation offers a rare chance to acquire an established business with significant potential for growth. The existing equipment is available for purchase at an additional cost, providing a seamless transition for the new owner. This is an ideal opportunity for an experienced entrepreneur looking to acquire a profitable, established business with a strong history in the Salem community. The property's prime location and substantial lot size offer significant advantages for continued success. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $8,453,030

  6.5%

  $7,802,790

  7%

  $7,245,450

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,855,550

  Geo Method

  $2,375,430

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $15,110,500

  Mixed-Use / Specialty

  $7,817,670

  Hospitality / Lodging

  $5,791,170

  Office

  $7,815,700

  Institutional / Educational

  $8,142,490

  Residential Income

  $9,526,710

  Multifamily

  $11,189,100

  Automotive / Energy

  $6,979,280

  Parking / Income-Based Land

  $2,366,280

  Restaurant / Food Service

  $4,157,150

  Healthcare / Senior Housing

  $7,973,090

Location Insight

City

Salem

County

Salem

State

New Jersey

Latitude

39.5706

Longitude

-75.4657

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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