Property

Millville, NJ 08332 129 N High Street N

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Presented By: DePalma Realty
  • MLS# NJCB2017870
  • 04/25/2024
  • Request Tour
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  • SQFT • 4,250

Home Details

5 Unit Mixed Use Commercial building in arguably the best and most strategic location on High St in Downtown Millville, fueled by redevelopment all around and directly across from the amazing Levoy Theater and newly renovated Fath Building. The building is comprised of 3 commercial units downstairs and 2 residential units upstairs. The residential units are a 2 bedroom, 1.5 bathroom unit and a 1 bedroom, 1 bathroom unit. All units, including the commercial spaces, are currently occupied. Downstairs you will find a barber shop in Unit A, an upcycling furniture store called Introducing Vicky, in Unit B, and a photography studio in Unit C. The City Tax assessor does not have actual sqft numbers but each commercial unit is roughly 1000 sqft estimated. Buyers should confirm sqft. The current rent roll is just under $5,000 per month and rents have room to go up. The building is fully electric so all utilities outside of water/sewer are paid by the tenants in the leases. The owner pays taxes, building insurance, and water/sewer. I have a PnL breakdown for interested and qualified buyers. All around this building you will notice revitalization happening, from the Levoy and the Fath to some of the most successful businesses in the Downtown in the first and second block. Millville is slated also to see an increase in the coveted dining sector right around this location in the coming years, further cementing this property as a prime location for commercial tenants moving forward. Whether you are a business owner looking to relocate and have your expenses covered by the other tenants, or a pure investor looking for both a cash flow and appreciation play, this building is definitely worth a look!
Presented By: DePalma Realty

Interior Features for 129 N High Street N

Bathrooms

Total Restrooms6

Other Interior Features

Central Air Y/NYes
Heating FuelElectric
Heating Y/NYes
Hot WaterElectric
Street SuffixSTREET
Total Stories2

General for 129 N High Street N

Acceptable FinancingCash, Conventional, Other
AccessibilityNone
Business TypeApartment Building, Professional, Other
Buyer Agent Compensation2.5
Buyer Agent Compensation Type% Of Gross
Cap Rate11.68
CityMILLVILLE
Construction MaterialsBrick
Cool FuelElectric
CoolingCentral A/C, Ceiling Fan(s), Wall Unit
CountyCUMBERLAND
Days on Market6
DirectionsGPS
ExclusionsTenant personal property.
HeatingBaseboard - Electric
Location TypeDowntown
Lot Size Square Feet8747.00
MLS AreaMillville City (20610)
ModificationTimestamp2024-04-25T10:39:44
MunicipalityMILLVILLE CITY
Net Operating Income40874.00
New ConstructionNo
Operating Expense17950.00
OwnerPaysInsurance, Repairs, Sewer, Taxes - Real Estate, Trash Collection, Water
Percent OwnershipFee Simple
PossessionSettlement
Price Per Sq Ft82.35
Property SubTypeMixed Use
Property TypeCommercial Sale
Property UseInvestment
RoofFlat, Shingle
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Street NameHIGH
Tax Annual Amount8550.0
Tax Assessed Value219700.0
Tax Lot00027
Tax Year2023
Total Units5
Vacation Rental Y/NNo
ViewCity
Water Access Y/NNo
Waterfront Y/NNo
Year Built1919
Year Built SourceAssessor
ZoningB-3

Exterior for 129 N High Street N

Building Area Total4250.00
Car Parking Spaces5
Foundation DetailsStone
InclusionsSeller owned fixed items, appliances, and utility systems.
Land Assessed Value25500.00
Land Use Code
Lot Dimensions53.00 x 165.00
Lot Size Acres0.20
Lot Size SourceAssessor
Lot Size UnitsSquare Feet
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Total Loading Docks0
Total Parking Spaces5
Type of ParkingOn Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo

Additional Details

Price History

Fabiane Farias

Associate
Price $350,000
MLS#NJCB2017870
List Date 04/25/2024
Property Type Commercial
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