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2 Bldgs. - Multifamily & Light Industrial 23 Main St 3 Unit Apartment Building $424,900 ($141,633/Unit) 6.59% Cap Rate Ogdensburg, NJ 07439
Investment Highlights
- Property ideally located minutes from Route 23 and Route 15
- Walkable Main Street in Ogdensburg offers a variety of dining, retail, schools, places of worship and recreation.
- Duplex: Ground Floor Apartment: Railroad-style 2-bedroom 1 Bathroom. Second floor apartment: 1 Bedroom 1 Bath.
- Pro Forma Cap Rate of 9.43%
Executive Summary
100% occupied with flexible lease structure - 2,997 SF net leasable - Two-family residential apartments and 4-bay body shop with office. Large parcel with ample parking. Appraisal in hand. Multiple uses, multiple income streams, maximum flexibility for either investment or owner-user - occupy an apartment, the body shop, or continue to cash flow with all tenants in place. 9%+ Cap at Stabilization.
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- Operating and Financials
Property Facts
| Price | $424,900 | Building Class | C |
| Price Per Unit | $141,633 | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 2,997 SF |
| Cap Rate | 6.59% | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | BC | ||
| Price | $424,900 |
| Price Per Unit | $141,633 |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 2,997 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1900 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | BC |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 16-00011-0000-00008 | Improvements Assessment | $207,300 |
| Land Assessment | $97,200 | Total Assessment | $304,500 |
Property Taxes
Parcel Number
16-00011-0000-00008
Land Assessment
$97,200
Improvements Assessment
$207,300
Total Assessment
$304,500
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2 Bldgs. - Multifamily & Light Industrial | 23 Main St