45 New York RdGalloway, NJ 08205

Property Details for 45 New York Rd

Year built

1989

Construction

CONCRETE BLOCKS

Lot size

25.88 AC

Zone code

CC-2

Property type

Commercial real estate

APN

11 01173- 01-00050

APU

11011730100050

Description

Smithville Square, located at 45 S New York Rd in Galloway, NJ (08205), presents a prime retail opportunity. This 5,960 square foot strip center is currently fully vacant, offering a unique chance to establish or expand your business. The property boasts ample parking with 650 spaces, ensuring convenient access for customers. The flexible layout allows for multiple tenancy options, with spaces ranging from a minimum of 1,265 square feet to a maximum contiguous space of 1,887 square feet. Eight individual spaces are available for lease, providing versatility for various retail concepts. The property is zoned CC-2 within Atlantic County, offering potential for a wide range of businesses. Its strategic location in Galloway, New Jersey, provides excellent visibility and accessibility. This is an exceptional opportunity to secure a prominent retail presence in a thriving community. The entire 5,960 square feet is available for lease, allowing for a single large tenant or multiple smaller businesses. The property's substantial parking capacity ensures a positive customer experience. Interested parties should inquire about lease terms and conditions.

• CAP approach

  CAP return

  Valuation

  6%

  $394,190,000

  6.5%

  $363,867,000

  7%

  $337,877,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $147,297,000

  Geo Method

  $147,297,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $693,144,000

  Retail / Commercial

  $359,988,000

  Mixed-Use / Specialty

  $362,288,000

  Hospitality / Lodging

  $270,464,000

  Office

  $363,867,000

  Institutional / Educational

  $377,914,000

  Residential Income

  $442,159,000

  Multifamily

  $510,437,000

  Automotive / Energy

  $323,926,000

  Parking / Income-Based Land

  $108,243,000

  Restaurant / Food Service

  $196,076,000

  Healthcare / Senior Housing

  $367,845,000

Location Insight

City

Galloway

County

Atlantic

State

New Jersey

Latitude

39.4879

Longitude

-74.4626

CBSA code

12100

CBSA name

ATLANTIC CITY, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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