3071 Bordentown Ave

30,000 SF 100% Leased Office Building Parlin, NJ 08859 $7,500,000 ($250/SF) 8.68% Cap Rate

INVESTMENT HIGHLIGHTS

  • NNN Lease w/ 8 years Remaining
  • 30,000 SF w/ 10,000 SF on Each Level
  • Parking for 80+ w/ Overflow Parking
  • 8% CAP Rate at Asking Price w/ Annual Increases
  • Built in 2003 w/ Recent Upgrades
  • Prime Location between Route 9 & the GSP

EXECUTIVE SUMMARY

Investment Highlights:
3071 Bordentown Ave presents a unique investment opportunity to purchase a fully leased 30,000SF +/- Freestanding Professional Building/School. The tenants have recently renewed and have 8 years remaining. The lease is NNN, with minimal to no landlord responsibilities. The income provides a +8% CAP rate at the asking price with built in annual escalations.
Property Highlights:
Built in 2002, the property has 3 nicely finished levels accessible w/ an ADA compliant elevator. Currently occupied by a school, the property is located in a B-2 (General Business Zone) which permits a wide range of uses.
Property Features:
• 30,000 Total SF w/ 10,000 SF on each Level
• ADA Compliant Elevator
• Multiple Bathrooms, Utility Sub-Metering, and Zoned Heating/ Cooling on Each Level
• Large Meeting/Multi-Purpose Room on Lower Level
• Commercial Kitchen w/ Fire Suppression Hood
• Parking for 80+ w/ Overflow Shared Parking
• Two Separate Entrances w/ Secure Receptions
• Fully Sprinklered Throughout
• Outdoor Playground for School/Child Uses
• Windows Throughout the Perimeter of Each Level providing Natural Light
• Nice Pylon Signage w/ Visability
• Customizable Floorplan for Multiple Office Users which can be divided into 2,500 SF Quadrants
• Numerous Large Office/ Classrooms
• Constructed in 2003, so entire building is less than 20 years old
• Zoned B-2
• Real Estate Taxes: $85,653 per year ($2.86 PSF)
Floorplans Available As Attachments
• Property is ideal for Investor with potential for future owner occupant.
Prime location on Bordentown Ave. between Cheesequake and Ernston. Minutes from Route 9 and the GSP w/ Quick access to North Jersey, NYC, and the Jersey Shore.
Call for More Information or to Schedule A Tour

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Building Size
30,000 SF
Building Class
B
Year Built
2002
Price
$7,500,000
Price Per SF
$250
Cap Rate
8.68%
NOI
$650,817
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
10,000 SF
Building FAR
0.32
Lot Size
2.17 AC
Zoning
B-2
Parking
80 Spaces (2.66 Spaces per 1,000 SF Leased)

PROPERTY TAXES

  • Listing ID: 28461181

  • Date on Market: 5/11/2023

  • Last Updated:

  • Address: 3071 Bordentown Ave, Parlin, NJ 08859