205-207 Philadelphia Ave , Egg Harbor City NJ

$845,000 | $3,894 / Month*

Courtesy of BHHS FOX and ROACH-Margate
MLS #549198

Location

Features

Details
Property Location: Business District, See Remarks
Foreclosure: No
Design: Comm. w/Apartments
Location: Business District, See Remarks
Exterior Features
Construction: Frame/Wood
Roof: Asphalt
Utilities
Cooling: Central
Sewer Type: Public Sewer

Bank of America, Dental Care of Egg Harbor, LLC, two 3-bedroom apartments, 100% occupied. Lease with BOA started in 2013 for 15 years, has 7 years remaining. Years 16 to 30 go from $2927/month to $3,522.67/month. BOA reimburses 25% of all operating expenses. Dental Care lease is for 60 months with 2 five-year options at 3% bump per year. Dental Care (under construction) will have ADA compliant bathroom. Leases escalate yearly. Buyer and seller will follow Bulk Sales Act, C9600, certified at least 10 days prior to settlement. 2nd floor two 3-BR apartments one at $1,200/month and one at $1,100/month. 4 units at 1,156 sf for total 4,624 sf. Cap Rate 7.66%. Located in busy commercial area near public transportation. Great Investment Opportunity! Call listing broker to show.

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