$840,000
Sold

205-207 Philadelphia Avenue

Egg Harbor City, NJ 08215
#549198
Type:Purchase
Structure:Commercial
Zone:Commercial

Description

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.

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Last Updated: . Source: SJSMLS

Listing Courtesy
Listing Agent: ROBERT ROSENTHAL,GRI,CRS (#4462)
Listing Office: BHHS FOX and ROACH-Margate (#108)

Provident LegacyReal Estate Group
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