Views
Listed By:
DePalma Realty
Address
701 E Main Street, Millville, NJ
Price
$ 899,000
Property Attributes
  • MLS#NJCB2016456
  • TypeCommercial
  • CountyCUMBERLAND
  • CityMillville
  • AreaMillville City
  • Zip08332
  • StyleCar Wash/Truck Wash
  • Year Built1974
  • Taxes$ 1085
  • Price$ 899,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage4164
  • Lot Size1.68 Acres
Data Source:
Bright MLS
Property Description

COMBINATION OPERATING LAUNDROMAT, CAR WASH, and REAL ESTATE. VALUE ADD INVESTMENT OPPORTUNITY in MILLVILLE, NJ, LOCATED IN URBAN ENTERPRISE ZONE! The property, which includes both 701 E Main St and 701 Smith St, is strategically positioned on bustling Route 49, ensuring high visibility and heavy traffic. The Car Wash facilities include: 5 self-service cleaning bays, with 2 currently operational; 1 additional bay converted into a storage unit; 12 self-service vacuum stations; a well-built and maintained automatic tunnel, a significant asset that would cost nearly seven figures to replicate. The Laundromat Features: 33 washers, including 25 18lb washers, 4 50lb washers, 2 60lb washers, and 2 35lb washers, as well as 28 dryers to accommodate all laundry needs. Inside the Laundromat and in various locations around the self-service facilities you will find change machines, 2 vending machines, as well as laundry and car washing supplies for sale. What's more, the back of the laundromat boasts tons of storage, as well as two office spaces that could be used by the owner or rented out to another user. All of these offer more ways to create cashflow. Car wash services are currently priced at $7 per retail wash. Self-service bays are charged at $1.50 per 4 minutes of use. Self-service vacuum stations available at 75 cents for 4 minutes. Washer charges range from $2.25 to $6.25, catering to different load sizes. Dryer charges vary between $1.25 and $1.50 per cycle. All of these are customizable and are definitely able to be raised at every level without losing customers. The owner hasn't raised prices in years, which makes for a great opportunity for the next owner. The property also comes completely outfitted with a surveillance system and alarm system monitored and recorded 24/7. This is a classic value-add investment opportunity with room for service price adjustments, new signage, branding, website, and operational and logistical modernization. It is an established business with a loyal customer base, operated by the current owner for 40 years. Phenomenal growth potential in Millville, with new businesses and jobs on the horizon. Numerous avenues for a new owner to enhance and optimize operations, creating a lucrative venture. This property represents more than just a business; it's an investment in a community poised for growth. The 701 E Main/Smith St property is ready for a new owner to step in, capitalize and improve on decades of success, and elevate it to new heights. Current owner suggests 2 employees (one for the tunnel, the other to watch laundromat, vacuums, and bays) is all it takes to make this business absentee owner. Don't miss the chance to discuss property details, financials, and strategies for maximizing profits. Call now to explore the potential of turning this property into a profit machine. Seize the opportunity and be part of Millville's thriving future! Tax information in listing is based on combining assessments and bills for 701 E Main St and 701 Smith, both of which convey with the sale.

Price History
1/27/2024 Listed $899,000

General Features

Sewer Public Sewer
Heating Other,Forced Air
Cooling Central A/C
Possession Settlement
Zoning NC
Security Features 24 hour security,Exterior Cameras,Monitored,Security System,Surveillance Sys
Construction Materials Block,Other
Exclusions All other auxiliary equipment or machines,including bobcat,and items in the 6th bay storage,are property of the owner. Buyer can make secondary offer on those items if they would like.
Year Built 1974
View City,Street
Property SubType Other
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Electric
Business Type Car Wash/Truck Wash,Other
Accessibility No Stairs
County CUMBERLAND
New Construction No
Property Type Commercial Sale
Water Access Y/N No
Property Use Owner User
Status ACTIVE
Directions GPS. Route 49.
ModificationTimestamp 2024-03-27T01:22:38
City MILLVILLE
Buyer Agent Compensation 3
Zoning Description Neighborhood Commercial Zone.
MLS Area Millville City (20610)
Lot Size Square Feet 73180.80
Tax Assessed Value 27900.0
Waterfront Y/N No
Street Name MAIN
Tax Annual Amount 1085.0
Price Per Sq Ft 215.9
Acceptable Financing Cash,Conventional,Other
Lease Considered Y/N No
Vacation Rental Y/N No
Days on Market 95
Location Type Downtown
Standard Status Active
Year Built Source Estimated
Tax Lot 00001
Buyer Agent Compensation Type % Of Gross

Interior Features

Heating Fuel Natural Gas
Hot Water Natural Gas
Heating Y/N Yes
Street Suffix STREET
Central Air Y/N Yes
Total Restrooms 2

Exterior Features

Lot Features Road Frontage
Water Source Public
Inclusions All equipment necessary to run the operations at the Laundromat and Car Wash.
Total Parking Spaces 10
Type of Parking Parking Lot
Water View Y/N No
Building Area Total 4164.00
Lot Size Acres 1.68
Lot Size Units Square Feet
Lot Size Source Estimated
Other Equipment Negotiable
Land Assessed Value 22300.00
Navigable Water Y/N No
Water Oriented Y/N No
Car Parking Spaces 10

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 08332

Price
AVG $380K
$900K
Taxes
AVG $5,138
$1,085
Visits
AVG 270
144
Data Provided by Inside Real Estate®
Year Built
AVG 1969
1974

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