45 Broad StElmer, NJ 08318

Property Details for 45 Broad St

Year built

1938

Lot size

0.39 AC

Property size (Sq ft)

1,952 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

03 00018-0000-00009

APU

300018000000009

Description

This 1,952 square foot office building at 45 Broad Street, Elmer, NJ, presents a compelling investment opportunity. Currently occupied by a long-term tenant, a physical therapist, the property generates a substantial monthly income of $3,000 triple net. This means the tenant covers all taxes, landscaping, snow removal, and utilities, significantly reducing the owner's operational expenses. The annual landlord expenses are approximately $3,800, covering water and insurance. The property boasts a desirable 10% cap rate, making it an attractive addition to any investment portfolio. Convenient off-street and street parking is available for both the tenant and visitors. The building's roof was recently replaced in 2021, ensuring long-term structural integrity. All existing equipment and furniture within the building belong to the tenant and are not included in the sale. This turnkey investment property is located in Elmer's thriving downtown business district, offering excellent visibility and accessibility. The current tenant desires to remain, providing stability and consistent income. This is a rare opportunity to acquire a high-performing medical office building with a strong tenant and excellent financial prospects. The asking price is $279,900.

• CAP approach

  CAP return

  Valuation

  6%

  $511,747

  6.5%

  $472,382

  7%

  $438,640

• Comparable approach

  Method

  Valuation

  Relative Method

  $255,048

  Geo Method

  $255,048

• Alternative Use

  Use

  Valuation

  Residential

  $585,753

  Hospitality

  $536,547

  Educational

  $446,401

  Medical

  $461,753

  Retail

  $694,401

Location Insight

City

Elmer

County

Salem

State

New Jersey

Latitude

39.593

Longitude

-75.1705

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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