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526 Chicago Ave 15,368 SF Specialty Building Offered at $495,000 in Egg Harbor City, NJ 08215
Investment Highlights
- Entire City Block - 2.07 Acres
- Curbs/Sidewalks
- Located in Heart of Residential Neighborhood
- Macadam Street
- 3 Story Building - Former School
- Excellent Residential Conversion Opportunity (Subject to Town Approval)
Executive Summary
The subject site consists of 2 parcels and has 89,999+/- SF (2.07 AC) of land area. The property is a Special Purpose - School/University. Single-Tenant or Owner-Occupied - 1 Tenant Space. 1 building with 3 stories. The estimated total rental space is 21336 +/- SF; the floor plate is 7,140 SF and is considered to be a Class "C" building with Site coverage ratio of 7.9% and the land to building ration of 5.9: 1. Parking consists of 14 surface spaces. Structure built circa 1928. Parking 14 (Surface) 0.9/1,000 SF NRA. Basic Construction Steel and masonry, Foundation Poured concrete slab, Framing Structural steel with masonry and concrete encasement, Exterior Walls Brick, Heating Oil fired baseboard heat. Gas fired in the basement. Oil tank is in ground and contains approximately 1000 gallons. Air Conditioning in principals and nurse's offices as well as the computer and science labs. The remainder of the building is not air conditioned. Lighting Fluorescent. Interior Walls are drywall in classrooms. Ceramic tile in restrooms. Electrical Assumed adequate and to-code. Ceilings are acoustical ceiling tile and ornate plaster in classrooms. Ornate plaster in hallways and stair wells. Acoustical tile in restrooms. Windows Glass in aluminum frame. Wooden doors. Flooring is a mixt of vinyl tile, carpet and hardwood flooring. Plumbing Standard plumbing mixed. Smoke Alarms. Basement: Girl's/Boy's Room, Boiler Room, Kitchen, large all purpose room. 1st Flr: Reception, 4 offices, 3 classrooms, large meeting room. 2nd Flr: Classroom and bathroom. 3rd Flr: 6 Classrooms and Boy's/Girl's Room.
Property Facts
| Price | $495,000 | Building Class | B |
| Price Per SF | $23.24 | Lot Size | 2.06 AC |
| Sale Type | Investment or Owner User | Building Size | 21,300 SF |
| Sale Condition | Deferred Maintenance | No. Stories | 3 |
| Property Type | Specialty | Year Built | 1928 |
| Property Subtype | School | Opportunity Zone |
Yes
|
| Zoning | R-9 - Residential (9,000-square-foot minimum lot) (R-9) Permitted Uses: Single-family detached residences, schools, places of worship, parks, playgrounds. | ||
| Price | $495,000 |
| Price Per SF | $23.24 |
| Sale Type | Investment or Owner User |
| Sale Condition | Deferred Maintenance |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | B |
| Lot Size | 2.06 AC |
| Building Size | 21,300 SF |
| No. Stories | 3 |
| Year Built | 1928 |
| Opportunity Zone |
Yes |
| Zoning | R-9 - Residential (9,000-square-foot minimum lot) (R-9) Permitted Uses: Single-family detached residences, schools, places of worship, parks, playgrounds. |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $350,000 | |
| Land Assessment | $160,000 | Total Assessment | $510,000 |
Property Taxes
Parcel Numbers
Land Assessment
$160,000
Improvements Assessment
$350,000
Total Assessment
$510,000
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526 Chicago Ave
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