443 E BROADWAY Salem, NJ 08079 PENDING




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Key Details

Property Type: Commercial

Sub Type: Retail

Listing Status: Pending

Purchase Type: For Sale

Lot Size: 6.510 Acres

Year Built: 1990

MLS Listing ID: NJSA136904

Total Units: 6

Short Sale: No


Originating MLS: BRIGHT

Property Description

Great News... Seller successful with tax appeal resulting in a $1.55 million dollar reduction in assessed value and over $100,000 per year is property tax savings! Attention Investors - Take a good look at this Value Add Opportunity of a 42,252 +/- square foot Neighborhood Shopping Center on 6.52 +/- acres with 602' frontage on Broadway (Route 49) and current tenants including TD Bank, Dollar Tree, Cell Talk and Ella's Mama Mia Restaurant. Approximately 25,000 +/- of leasable space available, 2 loading docks in the anchor space and 550 parking spaces available. The property is currently 40% occupied by four (4) tenants ranging in size from 3007 sf to 7819 sf. Current owner has recently invested $150,000 in improvements including new LED outside lighting, special roof coating and parking lot improvements. Rent roll available with signed Non-Disclosure Agreement. Salem City is a New Jersey Tax Opportunity Zone.


State: NJ

County: Salem

Area: Salem City (21713)

Zoning: C2


Hot Water: Natural Gas

Heating: Forced Air

Cooling: Central A/C

Flooring: Carpet

Heat Source: Natural Gas


Garage Spaces: 500.0

Utilities Available: Electric Available,Natural Gas Available,Sewer Available,Water Available

Waterfront: N

Water Access: N

Roof Type: Flat

Accessibility: None

Road Frontage: State

Parking Type: Parking Lot

Total Parking Spaces: 500

Garage: N


Foundation: Block

Lot Dimensions: 602 x 400

Sewer: Public Sewer

Water: Public

New Construction: N


School District: Salem City Schools


Tax Amount: $91,897

Tax Year: 2020

Tax ID: 13-00073-00001 01

Ownership: Fee Simple

SqFt Source: Assessor

Acceptable Financing: Cash,Conventional

Special Sale: REO (Real Estate Owned)

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Listing provided by  Warner Real Estate & Auction Company

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