Cross-posted on MLS # 24149701 ~ 7.06 CAP r a t e ~ Prime mixed-use investment property offered at $850, 000 along the high-visibility Route 1 corridor. The asset consists of three total units-office/retail space with direct road frontage and two residential apartments privately situated in the rear. Trusted General Contractor currently rents the rear yard space at $1, 000/month. Projected gross income totals $90, 000/year. Incorporating a 10 p e r c e n t vacancy & repairs reserve, the stabilized effective gross income is $81, 000/year. Operating expenses total $20, 945/year (real estate taxes: $5, 896 | insurance: $5, 879 | electric: $4, 600...
Cross-posted on MLS # 24149701 ~ 7.06 CAP r a t e ~ Prime mixed-use investment property offered at $850, 000 along the high-visibility Route 1 corridor. The asset consists of three total units-office/retail space with direct road frontage and two residential apartments privately situated in the rear. Trusted General Contractor currently rents the rear yard space at $1, 000/month. Projected gross income totals $90, 000/year. Incorporating a 10 p e r c e n t vacancy & repairs reserve, the stabilized effective gross income is $81, 000/year. Operating expenses total $20, 945/year (real estate taxes: $5, 896 | insurance: $5, 879 | electric: $4, 600 | oil: $1, 350 | propane: $1, 620 | snow removal/water/septic: $1, 600), resulting in a net operating income (NOI) of $60, 055/year. At the asking price of $850, 000, the asset delivers a 7.06 CAP r a t e, with long-term value preservation and upside through future rent adjustments. Strong location, consistent cash flow, and limited supply of mixed-use product on Route 1 make this an ideal long-term hold, 1031 exchange target, or portfolio addition.
Cross-posted on MLS # 24149701 ~ 7.06 CAP r a t e ~ Prime mixed-use investment property offered at $850, 000 along the high-visibility Route 1 corridor. The asset consists of three total units-office/retail space with direct road frontage and two residential apartments privately situated in the rear. Trusted General Contractor currently rents the rear yard space at $1, 000/month. Projected gross income totals $90, 000/year. Incorporating a 10 p e r c e n t vacancy & repairs reserve, the stabilized effective gross income is $81, 000/year. Operating expenses total $20, 945/year (real estate taxes: $5, 896 | insurance: $5, 879 | electric: $4, 600 | oil: $1, 350 | propane: $1, 620 | snow removal/water/septic: $1, 600), resulting in a net operating income (NOI) of $60, 055/year. At the asking price of $850, 000, the asset delivers a 7.06 CAP r a t e, with long-term value preservation and upside through future rent adjustments. Strong location, consistent cash flow, and limited supply of mixed-use product on Route 1 make this an ideal long-term hold, 1031 exchange target, or portfolio addition.
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