608 High StMillville, NJ 08332

For Sale
$325,000

Prime Millville office, high NOI potential.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional two-story, 6,899 sq ft office building in Millville, NJ, presents a remarkable investment opportunity. Located on a 0.306-acre lot at 608-616 N High St, this Class C property boasts 11 units, 22 parking spaces, and is currently vacant, offering immediate potential for high returns. Built in 1990, the building features two downstairs units, each with private bathrooms and reception areas, ideal for medical or professional services. Upstairs, nine designated office spaces (with potential for more) provide flexibility for individual tenants or a larger single tenant. A shared bathroom and kitchen area are also located upstairs. The property has historically generated significant rental income, exceeding $110,000 annually, with minimal operating expenses. The asking price is $325,000, representing a 10.05% cap rate and a pro-forma cap rate of 13.15%, with a pro-forma NOI of $42,732. The price per square foot is $47.11, and the price per unit is $29,545.45. This high-traffic location offers excellent visibility and accessibility, making it an ideal investment for both immediate income generation and long-term appreciation. Prior income/expense reports and upstairs floor plans are available upon request. The property is fee simple ownership.

Highlights

  • Move-in ready medical or general office space.
  • Flexible lease options: rent by floor or individual unit.
  • Low operating expenses due to excellent condition.
  • High-traffic location with convenient access.
  • Significant NOI potential and attractive cap rate.

Property Details for 608 High St

Property type
Other office properties, Medical offices
Square Feet
6,899 SF
Class
C
Year Built
1990
Stories
2
Lot Size (sq. ft)
13,329 SF
Units
11

Location Insight

City
Millville
County
Cumberland
State
New Jersey
Latitude
39.40246414785
Longitude
-75.038930672773
608 High St, Millville, New Jersey

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608 High St
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