NJ
CUMBERLAND
MILLVILLE
08332
506 N HIGH STREET
506 N HIGH STREET, MILLVILLE, NJ 08332
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Listing Type
Multi Family
Listing Status
pending
14
$199,900

Home Details for 506 N HIGH STREET

Price
$199,900
Type
Residential Income
Bedrooms
3
Bathrooms
Square feet
1189
Year built
1920
Lot size acres
0.03
County
CUMBERLAND
Garage
Basement
Interior Entry
Days on site
140
MLS Listing#
NJCB2023964
Property Description

3-unit mixed use building in Millville's growing downtown, for less than $200,000.00! Taxes under $2,000 per year! The property offers a 10%+ cap rate at current rents with plenty of room to grow. This property is 3 units, with two store fronts and a 3 bedroom 1 bathroom apartment upstairs already renovated and rented. The two storefronts were recently leased to great tenants on 3 year leases with rent increases for each year. Each storefront will also be renovated by the future tenants. Upstairs brings in a gross annual rent of $18,900.00 per year. In total, gross annual rents for the next twelve months will be $26,100.00. The Cap Rate and Cash on Cash returns are both very attractive on current and on a pro forma basis. Situated next to the phenomenal DC Gallery & Studio and across from the Village on High, this property is ready to take on new life with new ownership. The upstairs 3 bedroom apartment was recently completely rehabbed and a new gas boiler was installed for the building just a few days ago. Take advantage of this deal and be part of High Street before all the other development takes place and the barrier to entry becomes too high! With instant cash flow and potential to generate much more into the future, this building is a fantastic investment for both the new and experienced investor. Schedule a showing today!

Property Features
  • Heating Information
    • Natural Gas
    • Radiant
    • Baseboard
  • Cooling Information
    • None
    • Electric
  • Water Features
    • Public
  • Parking
    • On Street
  • Basement
    • Interior Entry
Listing Courtesy: DePalma Realty - 856-825-5500
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Last Updated: 2025-09-05 05:58:22
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EXIT HOMESTEAD REALTY PROFESSIONALS
1070 E. Chestnut Ave, Vineland, NJ 08360
Office
856 692 3948
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