Call Us: 1-609-344-5200
Call Us: 1-609-344-5200
SOLD! Income Producing Building with an Add Value Component
SOLD! Income Producing Building with an Add Value Component
Overview
- Investment, Retail
Address
Open on Google Maps- Address 1322 Atlantic Avenue, Atlantic City, NJ, USA
- State/county New Jersey
- Zip/Postal Code 08401
Details
Updated on August 9, 2024 at 2:08 pm- Price: $425,000
- Year Built: 1930
- Property Type: Investment, Retail
- Property Status: Sold
- Building SqFt: 24,255±
- Block #: 145
- Lot #: 7
- Lot Dimensions: 70 x 150
- Number of Buildings: 1
- Frontage: 70'
- Zoning: CBD
- Total Assessment: $450,500
- Assessed Land Value: $262,500
- Improvement Value: $188,000
- Tax: $17,015
- Tax Year: 2022
- Exterior Features: Signage
- Location: Boardwalk Area, Business District
- Sewer: Public
- Style: Commercial
- Water: Public
Description
SOLD! Income producing building with an add value component. Current fit-out consists of four retail stores that have been in place for many years. All four stores front Atlantic Avenue and see tremendous daily foot traffic. This building is located in the Central Business District and is surrounded by a large professional workforce and national tenants. Gross Income of $68,400. Original building was a movie theater with a fair amount of the infrastructure still in place and possible apartments. A tour will be provided to qualified buyers.
All information is from sources deemed to be reliable; however, no warranty or representation is made as to the accuracy of the information provided herein by LEVIN Commercial Real Estate, LLC. (its principals, employees or agents). All information is submitted subject to errors, omissions or changes of availability and/or terms, which may be changed without liability upon discovery or notice. Many factors affect property value and the prospect agrees to take full responsibility for adequately investigating any potential conditions that may affect their ownership or usage of the property. All are advised and expected to retain competent advice for legal, financial, construction, architectural, engineering or appraisal matters, or any similar expertise, as LEVIN Commercial Real Estate, LLC. is a real estate brokerage firm and does not represent itself as a qualified professional in any other discipline.
