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31 S Finley Ave 5,750 SF 100% Leased Office Building Basking Ridge, NJ 07920 $2,400,000 ($417.39/SF) 7.30% Cap Rate
Investment Highlights
- Rare Opportunity for Investors in the Center of Basking Ridge - Prime Location on .25 Acres
- Two Buildings on one Lot - 31 South Finley Ave, 32 Brownlee Place (Across from Post Office ) Large Parking Lot plus Free Street Parking
- Mixed Use Buildings with Seven Tenants - Fully Occupied
Executive Summary
Rare Opportunity for Investors or a 1031 Exchange in the center of Basking Ridge. Two (2) Separate Buildings on one Lot. Huge Parking Lot with Expansion Potential! 31 South Finley and 32 Brownlee Place. Total of 8 units of Mixed Use Rentals (Medical/Retail/Office/Apartment). Tenants include Doctor, Performing Arts Company, Plumbing Company, Health Store, Upholstery Company, Two Bedroom Apartment & Spa. Excellent Location right in the center of Basking Ridge (walkable center of town). Flat Lot. Recently updated. Approx. 5,750 Square Feet. Easy Access to 287, 202, 78 and train/bus stations. 7.3% CAP RATE.
Property Facts
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Building Size
5,750 SF
Building Class
C
Year Built/Renovated
1860/2020
Price
$2,400,000
Price Per SF
$417.39
Cap Rate
7.30%
NOI
$175,320
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,875 SF
Building FAR
0.53
Lot Size
0.25 AC
Zoning
B1- R7 Residential/Comm. - B-1 Zoning - Commercial and Residential. MIXED USE.
Expansion Opportunities!
Great Investment and/or Owner Occupied.
Great 1031 Exchange
Parking
14 Spaces (2.43 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Fenced Lot
- Food Service
- Signage
- Wheelchair Accessible
- Storage Space
- Outdoor Seating
- Air Conditioning
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Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 02-01801-0000-00004 | Improvements Assessment | $736,000 |
| Land Assessment | $456,400 | Total Assessment | $1,192,400 |
Property Taxes
Parcel Number
02-01801-0000-00004
Land Assessment
$456,400
Improvements Assessment
$736,000
Total Assessment
$1,192,400
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Map
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Contact the Sale Advisor
31 S Finley Ave