Courtesy of: Jacob Seo, Realty Mark Advantage, jacob8342@gmail.com
Courtesy of: Jacob Seo, Realty Mark Advantage, jacob8342@gmail.com
$1,050,000
|
Lot: 3.60 Acres
|
|
Other
|
$1,050,000
501 TANSBORO ROAD A 4, 000-square-foot commercial/retail building on 3.6 acres, located at the intersection of Tansboro and Taunton Roads in Winslow Township. It has the potential for an expansion of more than 2, 000 square feet. New construction is underway near a residential complex with 142 single-family homes and 139 townhomes, and move-ins are expected to begin around next year. When that happens, the value of this property is likely to increase. Currently, this property houses a pizza shop, a convenience store, and a dry cleaner. One of these tenants is renting below market rate, and if adjusted to market rate upon renewal in 2026, a cap rate of approximately 7% could be achieved.
Courtesy of: Jacob Seo, Realty Mark Advantage, jacob8342@gmail.com
Copyright © 2024 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.