371 Pittstown Rd
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371 Pittstown Rd
7,238 SF 100% Leased Retail Building Pittstown, NJ 08867 £793,485 (£110/SF) 5.45% Net Initial Yield
Executive Summary
EXCELLENT INVESTMENT OPPORTUNITY. This two story mixed use building containing approximately 7,238 square feet was originally constructed circa 1887. The first floor is utilized as commercial space and the second story is two residential apartments. The first floor is currently divided into two units . One is a popular Italian Restaurant with a Ice Cream Take Out and the other is a well established Dental Practice. The second floor apartments consist of a two bedroom unit with a full bath and a three bedroom unit with a full bath. Amenities include dishwasher, stove, refrigerator, washer and dryer. Oil fired radiator heat and hot water are included with the rents. The tenants pay their own electric. The property is served by a private septic and well. The commercial space has central air conditioning and the apartments use window A/C units. A large paved parking lot adjacent to the building with lighting for tenants and customers. Excellent community, easy access to Routes 78,22,287 &31. Close to rail and bus service to NYC.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,238 SF
Building Class
C
Year Built
1887
Price
£793,485
Price Per SF
£110
Net Initial Yield
5.45%
NOI
£43,269
Percent Leased
100%
Number of Floors
2
Building FAR
0.24
Lot Size
0.69 AC
Zoning
NB
Parking
9 Spaces (1.24 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 10-00026-0000-00010 | Total Assessment | £467,885 (2024) |
| Land Assessment | £165,889 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £301,996 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
10-00026-0000-00010
Land Assessment
£165,889 (2024)
Improvements Assessment
£301,996 (2024)
Total Assessment
£467,885 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2022
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371 Pittstown Rd
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