Southern New Jersey and Surrounding Areas

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205-207 Philadelphia Ave
Egg Harbor City, NJ 08215
MLS# 549198 ID: 69796135
Property Description
Commercial - Egg Harbor City, NJ Bank of America, Dental Care of Egg Harbor, LLC, two 3-bedroom apartments, 100% occupied. Lease with BOA started in 2013 for 15 years, has 7 years remaining. Years 16 to 30 go from $2927/month to $3,522.67/month. BOA reimburses 25% of all operating expenses. Dental Care Grand Opening today, Oct 6, lease is for 60 months with 2 five-year options at 3% bump per year. Dental Care has ADA compliant bathroom. Leases escalate yearly. Buyer and seller will follow Bulk Sales Act, C9600, certified at least 10 days prior to settlement. 2nd floor two 3-BR apartments rented at $1,200/month. 4 units at 1,156 sf for total 4,624 sf. Cap Rate 7.66%. Located in busy commercial area near public transportation. Great Investment Opportunity! Call listing broker to show.
Property Features
Days On Market 415 days
Last Updated May 25, 2022
Market Status Available
Property Type Commercial
Building Features
Roof Asphalt
Stories 2.0
Central Air
Exterior Features
Exterior Construction Wood
Taxes 7694 (2020)
Listing Features
Property Type Commercial; Commercial
Offered By:
Berkshire Hathaway Home Services Fox & Roach, REALTORS-Mgate

Data Provided by South Jersey Shore Regional MLS