1085 Black Horse PikeMonroe, NJ 08094

This exceptional mixed-use property at 1085 N Black Horse Pike, Monroe, NJ 08094, presents a compelling investment opportunity. The 9,000 square foot building, situated on a 2-acre lot, boasts a diverse range of uses including flex space, medical offices, and parking. Currently, the two-story building features 12 units with five tenants, generating a current NOI of $102,840 and a 6.86% cap rate. However, the significant upside potential lies in the approved site plan for an additional 11,520 square feet of flex space. This expansion, once completed, is projected to increase the NOI to $141,737 and the cap rate to 9.45%. The existing building underwent renovations in 2019 and benefits from 100% occupancy for up to one year, with seller escrow covering any potential vacancy during the sale period. The approved flex space addition is designed with 10 individual overhead garage doors and 10 bathrooms, though the design is adaptable to a new owner's specifications with necessary approvals. Zoned for Highway Commercial use, this property is ideal for both investors seeking strong returns and owner-operators looking to expand their business. The property's features include a 1960 construction date with a 2019 renovation, and the potential for significant future income growth makes this a truly unique opportunity in the thriving Monroe, New Jersey market.