2004 Bay Shore RdVillas, NJ 08251

Property Details for 2004 Bay Shore Rd

Year built

1950

Lot size

0.98 AC

Zone code

GB

Property type

Office buildings

APN

05 00334- 01-00001

APU

5003340100001

Description

This exceptional commercial investment opportunity in Villas, NJ, presents a fully occupied, six-unit multi-building complex situated on a high-traffic road. The property boasts a strong rental history and comprises two buildings totaling approximately 8,500 square feet*. The front building is a 2,500 square foot medical office currently leased to an established physician. The rear building houses three first-floor commercial units, each roughly 1,000 square feet, currently occupied by a chiropractor, a real estate office, and a linen company. These ground-floor units are conveniently wheelchair accessible. Above the rear building, accessible via a private exterior staircase, are two additional units: a one-bedroom residential apartment suitable for owner-occupancy or rental, and a modern private office space. The property features a recently expanded and upgraded parking lot with 34 designated spaces, providing ample parking for tenants and visitors. All units are separately metered for efficient management. This turnkey investment is located in a growing market and offers significant potential for continued appreciation. The asking price is $1,299,900. *All unit sizes are approximate

• CAP approach

  CAP return

  Valuation

  6%

  $12,288,615

  6.5%

  $11,343,337

  7%

  $10,533,099

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,554,356

  Geo Method

  $5,554,356

• Alternative Use

  Use

  Valuation

  Residential

  $14,065,738

  Hospitality

  $12,884,141

  Educational

  $10,719,454

  Medical

  $11,088,112

  Retail

  $16,674,706

Location Insight

City

Villas

County

Cape May

State

New Jersey

Latitude

39.0155

Longitude

-74.9376

CBSA code

36140

CBSA name

OCEAN CITY, NJ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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