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1050 S State Route 23 7,400 SF 100% Leased Retail Building Wantage, NJ 07461 $629,999 ($85.14/SF) 10.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Route 23 Frontage
- 2 Apartments + Office Space + Event/Banquet Hall Space
- 3 Rental Units
EXECUTIVE SUMMARY
ATTENTION INVESTORS! Presenting a fabulous, renovated mixed-use property offering exceptional income potential and a 10% CAP RATE. This versatile building features three rental units, including two updated apartments, dedicated office space, and a spacious event/banquet hall area. Flexible configuration allows for potential restaurant or catering use, making this an ideal opportunity for investors, owner-operators, or business owners seeking additional revenue streams. The property has been thoughtfully improved and well maintained, ensuring strong rental appeal and long-term stability. Don't miss your chance to own this high-yield, multi-functional property with countless opportunities for growth and expansion. A must-see for serious investors!
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
7,400 SF
Building Class
C
Year Built/Renovated
1955/2023
Price
$629,999
Price Per SF
$85.14
Cap Rate
10.20%
NOI
$64,260
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.05
Lot Size
3.24 AC
Zoning
HWCO - MIXED USE - EVENT CATERING HALL with 2 RESIDENTIAL (APTS.) UNITS and OFFICE SPACE
Parking
45 Spaces (6.08 Spaces per 1,000 SF Leased)
Frontage
740’ on State Route 23
AMENITIES
- 24 Hour Access
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 24-00136-0000-00013 | Improvements Assessment | $170,700 |
| Land Assessment | $134,900 | Total Assessment | $305,600 |
PROPERTY TAXES
Parcel Number
24-00136-0000-00013
Land Assessment
$134,900
Improvements Assessment
$170,700
Total Assessment
$305,600
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1050 S State Route 23
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