Listed By:
Warner Real Estate & Auction Company
Address
318 E Broadway, Salem, NJ
Price
$ 299,000
Property Attributes
  • MLS#NJSA2008056
  • TypeCommercial
  • CountySALEM
  • CitySalem
  • AreaSalem City
  • Zip08079
  • StyleGeneral Retail
  • Year Built1990
  • Taxes$ 8544
  • Price$ 299,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage3985
  • Lot Size10,454 SqFt
Data Source:
Bright MLS
Property Description

Attention Savvy Investors... Looking for a new investment to add to your portfolio? Check out this stand- alone, 1-story commercial building with great, stable rental history. The long-standing tenant, Sherwin Williams has leased the building for decades. The property has been well maintained and offers a current rental income of $32,760 per year. Tenant pays water, sewer, electric, heat and reimburses owner for the majority of the property taxes and insurance. Lease with SW extended thru 9/30/2024.

Price History
6/27/2023 Listed $329,000
2/12/2024 10% - $299,000

General Features

Sewer Public Sewer
Heating Forced Air
Cooling Central A/C
Utilities Electric Available,Natural Gas Available,Phone Available,Sewer Available,Water Available
Possession Settlement
Roof Flat
Zoning R-2
Security Features Exterior Cameras
Construction Materials Block,Brick
Year Built 1990
Property SubType Retail
Tax Year 2023
Percent Ownership Fee Simple
Cool Fuel Electric
Gross Income 32760.00
Business Type Other/General Retail,Other
Accessibility None
County SALEM
New Construction No
Property Type Commercial Sale
Possible Use Commercial,Retail,Special Purpose,Wholesale,Other
Water Access Y/N No
Property Use Investment
Transportation Bus Stop less than 1 mile
Status ACTIVE
Directions Route 45 South into Salem,make (L) on Broadway,PIQ will be on your left
ModificationTimestamp 2024-03-30T01:41:20
City SALEM
Buyer Agent Compensation 3
MLS Area Salem City (21713)
Lot Size Square Feet 10559.00
Tax Assessed Value 108700.0
Waterfront Y/N No
Street Name BROADWAY
Tax Annual Amount 8544.0
Property Condition Good
Price Per Sq Ft 75.03
Acceptable Financing Cash,Conventional
Historic Y/N No
Lease Considered Y/N No
Vacation Rental Y/N No
Days on Market 250
Location Type Downtown
Standard Status Active
Year Built Source Assessor
Tax Lot 00009
Total Actual Rent 32760.00
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee No

Interior Features

Heating Fuel Oil
Flooring Concrete,Laminated
Hot Water Electric
Heating Y/N Yes
Central Air Y/N Yes
Total Restrooms 1

Exterior Features

Parking Features Paved Parking,Private
Water Source Public
Total Parking Spaces 6
Type of Parking Parking Lot,On Street
Traffic Count 5000-9999
Water View Y/N No
Building Area Total 3985.00
Lot Dimensions 64.00 x 165.00
Lot Size Acres 0.24
Road Surface Type Black Top
Lot Size Units Square Feet
Lot Size Source Assessor
Road Responsibility City/County
Land Assessed Value 10300.00
Navigable Water Y/N No
Water Oriented Y/N No
Fencing Y/N No
LotDimensionsSource Assessor
Car Parking Spaces 6

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 08079

Price
AVG $410K
$300K
Taxes
AVG $9,330
$8,544
Visits
AVG 134
246
Data Provided by Inside Real Estate®
Year Built
AVG 1956
1990
Walkscore
AVG 35
40
Data Provided by Walkscore® not using MLS data

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