Leases have just been increased and renewed for easy financing with long term written leases in place. This 5 unit mixed use building has no current vacancies and the leases total $87,900 annually. The current projected CAP rate based on income and expenses is 8.5%. This building has 3 residential apartments and 2 retail storefronts all with long term leases. Several updates have been made but there's still more room for growth and increased rent with full market potential exceeding $95,000 annually. Units are as follow: Apt 1 one bed one bath, Apt 2 one bed 1one bath, Apt 3 Three bed one bath, Storefront A Nail Salon, Storefront B Art/Tattoo studio. Tenants pay their own utilities for gas, heat, electric, hot water, and even sub-metered water. Additional details are available upon request.
Multi-familyProperty Type
1955Year Built
5,611 sq ftLot Size
$188Price/Sq.Ft.
Listed by Nathaniel Parker• RE/MAX Select - Princeton
Great for Investors! This building has 3 rental units above and 2 store fronts on the main level. UPstairs has 2 units with 1 bedroom and 1 unit with 3 bedrooms. All 5 units are leased below the market value. The building has a 2 garages and storage.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
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Baths
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Stories
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Lot width
85 ft.
Lot depth
66 ft.
Lot size
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Year renovated
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Finished Sq. Ft.
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Unfinished Sq. Ft.
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Total Sq. Ft.
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Year built
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Style
Multi-Family (2-4 Unit)
County
Camden County
APN
04-00137-00046
Parking Spaces
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Basement
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Accessible
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HOA Dues
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Garage
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Features
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Last updated by owner on May 21, 2023.
O
Office District
It is the purpose of this district to provide areas for the use or erection of buildings and the use or occupancy of lots for professional and business office buildings. Within this district no lot or building shall be used and no building shall be erected or altered to be used in whole or in part unless it complies with the area requirements of this chapter and the following regulations.
Permitted uses
Include but are not limited to:
Bank
Office
Medical office
Historical weather
Bellmawr, NJ • 08031
Average low and high temperatures (°F)
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39
67
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50
57
41
43
29
Jan
Feb
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May
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Aug
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Dec
Sun exposure
91/ 100
Exceptional sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.9 hrs
6.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 94 E Browning Rd
$735,305
$15K under list price of $750K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $350K to $675K.