Lodi NJ Real Estate & Commercial for Sale

Rare 3 story commercial building with first floor storefront (approx 2000sf.) with basement; Levels 2 and 3 are very large 3BR apartments; great location for an investor, great ROI of approx $50,000/annual. First floor currently in use as a Barber Shop.

Welcome to 1047 E Elizabeth Ave, a prime commercial property featuring a total of 5 lots, perfect for a variety of business ventures. This property is an excellent choice for an auto mechanic business, commercial vehicle storage, auto detailing, and much more. The versatility of this property is further enhanced by its already approved zoning for auto mechanic use. Property Highlights:

INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)