154-156 Hudson St
Phillipsburg, NJ 08865
Retail Property For Sale

The perfect investment property in Phillipsburg. 154 Hudson offers tremendous potential and a great current cash flow. This building has 5 current units 2 on the first floor that are set up to be a mini-mark and a barber shop and 3 additional units on the second floor. The second floor offers income producing apartments 2 of which are 3 bedroom and 1 is a 2 bedroom. Where the real potential lies though is the third floor. The third floor had a previous use of a conference hall. Now to has the potential to be 2-3 more apartments. With this floors extra high ceilings and new windows it would make the perfect space for amazing lofts to add additional income. The current building has a potential cap rate of 10.16% if all spaces are rented and the apartments rents are raised to local standard or average, this also does not include third floor apartment construction. If the third floor was built into 2 loft apartments plus the before mentioned things, the building would have a cap rate of around 16%.