Property
Wantage Twp., NJ 07461 1050 State Rt 23
$629,999
Pending
42 more
Presented By: REALTY EXECUTIVES EXCEPTIONAL
Full/Half Baths • 0 / 3- SQFT • 3,000
- Garage • 50
Full/Half Baths • 0 / 3
SQFT • 3,000
Garage • 50Home Details
ATTENTION INVESTORS! Presenting a fabulous, renovated mixed-use property offering exceptional income potential and a 10% CAP RATE. This versatile building features three rental units, including two updated apartments, dedicated office space, and a spacious event/banquet hall area. Flexible configuration allows for potential restaurant or catering use, making this an ideal opportunity for investors, owner-operators, or business owners seeking additional revenue streams. The property has been thoughtfully improved and well maintained, ensuring strong rental appeal and long-term stability. Don't miss your chance to own this high-yield, multi-functional property with countless opportunities for growth and expansion. A must-see for serious investors!
Presented By: REALTY EXECUTIVES EXCEPTIONAL
Interior Features for 1050 State Rt 23
Bedrooms
Num 4 Bed Units1
Bathrooms
Num Units w/Full Bath3
Num Units w/Half Bath1
Half Baths3
Other Interior Features
Price Per Sq Ft0.00
Available Sq Ft3000
Num 3 Bdrm Units1
Num 2 Bdrm Units0
Num 1 Bdrm Units
BasementFull, Storage, Unfinished
FlooringCarpeting, Laminate, Tile
Fuel TypeOil Tank Above Ground - Outside
Total Stories2
General for 1050 State Rt 23
Cap Rate10.20
ConstructionBrick/Block
Cooling3 Units, Ductless Split AC
CountySussex
Directionsroute 23 in Wantage
Documents AvailableFinancial Statement, Income & Expenses
DriveBlacktop, Off-Street Parking, Parking Lot-Exclusive
EasementUnknown
Equipment AvailableAppliances, Kitchen Area, Restrooms - Private, Smoke Detector
Farm AssessmentNo
Garage Spaces50
Gross Income92400
Heating4+ Units, Forced Hot Air, Multi-Zone
Leasable Area1500
Lease IncludesBuilding Insurance, Building Maintenance, Common Area Maint, Sewer, Taxes, Water
Lease Information1 Year Minimum
Lease TypeOther
LocationHighway Location, Rural Area
Net Operating Income64455
Num Apts2
Number Of Units Total4
Operating Expense27945
OwnershipFee Simple
Permitted UseMixed Use/Office/Apts/Banquet Hall
PossessionPOT
Prior UseMixed Use/Office/Apts/Banquet Hall
Property TypeMixed Use, Office/Apartments
Property TypeMixedUse
RoofAsphalt Shingle
ServicesCable TV Available
SewerSeptic
Standard StatusUnder Contract
StatusUnder Contract
Tax Annual Amount9024
Tax Assessed Value305600
Tax Lot13
Tax Year2024
Town #2826
TownshipWantage Twp.
UtilitiesElectric
Utilities Paid ByTenant
Year Built2021
ZoningCommercial
Exterior for 1050 State Rt 23
Building Area Total5000
Exterior DescriptionBrick/Block
Lot Dimensions3.24 AC
Lot FeaturesLake/Water View, Stream On Lot
Lot Size Acres3.24
Max Ceiling Height0
Max Door Height0
Number of Bays0
Number of Docks0
Total Parking50
Water SourceWell
Additional Details
Price History
Brian Lee
Associate