823 - 827 State Route 57 Unit 823 - 82 Greenwich, NJ 08323

This very unique Mixed-Use property was acquired by its current Owner's over a period of 8 years and who purchased these as three separate parcels that create the sum of the whole, that is now being offered for sale as a complete package. Located on highly visible Route 57 is where you will find th...e first of these three parcels that consists of a Building with Retail space on the first floor, 3 Bedroom Apartment above and a parking lot that also services the 5 Unit Motel. The second and third parcels share an access Easement along the left side that leads to the two Single Family Homes with the one located to the rear left featuring 2 Bedrooms, full Bath and a basement, while the one to the rear right features 4 Bedrooms, full Bath and 2 car Garage. Seller's represent receiving Gross Income of $99,600.00, Annual Expenses of $37,728.00, resulting in Net Operating Income of $61,872.00 and a Capitalization Rate of 5.1% at the current asking price. Continue reading