171 Main St, South River, NJ

Asking: $ 1,400,000

Description

Marketing Description

Large 8500+ SF, 2 story Medical & Professional building. 90% Occupied and over 25 parking spaces makes this building ideal for investors that want a stable return with upside or for owner occupants that want community access. Meticulously Maintained with newer roof, newly paved parking lot and more. Owners can stay or relocate as needed or change space usage to accommodate new owner if needed. Upside available as expenses are borne by owner- not tenants. Opportunity to convert to Net Lease with potential boost the CAP & ROI. Zoned for multiple uses that also include testing laboratory, educational training center, insurance services, assisted living facility, adult day care, nursery school or house of worship. High Visibility near well-known, highly trafficked intersection in town. South River is a growing community- making this an appreciating property.  Centrally located & Easy access to Rt 18, Rt 1, NJ Turnpike.

Investment Highlights

Currently 4.5% CAP  with ~ 90% occupancy with potential to go to over 7% at full occupancy. Additional Upside includes passing through CAM cost to tenants increasing the ROI & CAP rate.  

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