227 BroadwaySalem, NJ 08079

Property Details for 227 Broadway

Year built

1940

Lot size

0.40 AC

Property type

Retail properties

Property subtype

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%

  $10,982,208

  6.5%

  $10,137,423

  7%

  $9,413,321

• Comparable approach

  Method

  Valuation

  Relative Method

  $9,342,295

  Geo Method

  $5,755,850

• Alternative Use

  Use

  Valuation

  Residential

  $8,551,296

  Hospitality

  $7,832,941

  Educational

  $6,516,915

  Medical

  $6,741,042

  Retail

  $10,137,423

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

FAQs

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