Salem, NJ – Warner Real Estate & Auction Company, a full service real estate brokerage and auction marketing firm will be selling a 2-unit, 13,879 +/- SF retail complex for the County of Salem. The property is located at 110 5th Street in Salem, NJ and has a gross annual income of $83,835.00. Family Dollar leases 7769 +/- SF and the 6000 +/- SF is currently vacant. The building sits on 1.47± Acres and has parking for 75 vehicles.
According to Rich Warner, president and founder of Warner Real Estate and Auction Company, “This is a golden opportunity for an investor. This property has annual rental income of over $83,000 per year with rent growth potential with the second unit. There is minimal landscape and maintenance required and the tenants pay utility providers directly for gas and electric usage. With a starting bid of only $100,000, pro forma NOI of $58,011 and rent increases built into the lease extensions this property is a great addition to an investor’s real estate portfolio.”
The Property may be accessed for inspection on Sunday November 5th, 2017 from 12:00 – 2:00 PM. Online bidding will be available from November 2nd , 8:00 AM thru November 8th, 10:00 AM EST. The Property is being sold in “AS-IS” condition with no contingencies for financing or inspections. A detailed property information package, terms of sale, title commitment, property description, photographs and more are available online at WarnerRealtors.com.