24
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1240 ROUTE 206
About This Property
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Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
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Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 23, 2024 | Listed | $1,485,000 | |
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A very rare and distinctive opportunity to find 16.06 Acres of cleared undeveloped vacant land in Shamong, NJ. Located in highly desirable Burlington County. …. suitable for many uses. Presently AGR/Comm Designation. Imagine ...1166.48' frontage on Route 206, with 611' depth. Most certainly a developer’s dream. Many possibilities. Buyer is completely responsible for their own due diligence, and obtaining all municipal, pineland and state approvals…including Well & Septic. This parcel does fall under the NJ Pineland's Commission's Jurisdiction. This property is unparalleled on the Route 206 Corridor, you will not find anything on the market that begins to compare. ...with this much road frontage and depth, and,. it’s priced correctly. Presently, the seller is having a proposed 1.053 acres/75’ feet wide access/611’ feet deep utility easement for used by the adjoining lot 10.05 in block 22....which will be recorded by deed in the Burlington County Clerk's office upon proper approval. This is on the extreme right side of the property. Obviously, the property conveys a unique opportunity for developers, investors, and entrepreneurs seeking to establish new businesses or ventures. Here’s just a few of the major features that come with this parcel. 1. Strategic location, 2. Convenience to other communities, 3. Many amenities nearby…restaurants, high end shopping, medical facilities, etc, 4. Very High Exposure & Visibility, 5. Convenience to other businesses and industrial parks, 6. Zoning Changes…with Municipal Concurrence and Approval, 7. Ample Parking space, 8. Location to your clients & customers, 9. Fantastic location for your existing or future new business, very substantial benefit here is depending how you develop it, there is enough land, that one can plan for future growth…. or possible subdivision. 10. Route 206 Cannabis Business Classes include §1,2 &5...to be conditionally permitted per 110-128.5. (Please see attached Route 206 Cannabis Mapping and Ordinance 2023-6….in the document file. 11. The Traffic Count Average is over 20,000-25,000 vehicles a day...and increases on the weekends. Excellent Dense and Affluent Demographics surrounded by high medium household income developments (Average Estimate is $95,000. -125,748.00 within five miles). 12. Superior Location and Access....it simply doesn't get any better. Presently Zoned (AGC)) .....retail and commercial uses .... may need a variance depending upon the use. 13. Property is conveniently located close to Wharton State Forest State Park, and others. This acreage is one of the last few commercial parcels for sale on Route 206. Conveniently located to I-295, & Routes 38, 206, 73, 70, PA & NJ Turnpikes, & the Atlantic City Expressway and, close proximity to center Philadelphia and Shore points. Within close proximity to the high-end Promenade Shopping center, and minutes away from the Cherry Hill & Moorestown Malls, the Marketplace at Garden State, and Centerton Square/Moorestown. It's approximately 30-40 minutes to center Philadelphia, about an hour's drive to the Jersey Beaches, and 1 hours to New York City, not to mention that it's centrally located in the Tri State area. A short drive to the Ben Franklin, Walt Whitman, Tacony-Palmyra Bridge or Burlington/Bristol Bridge connecting with I-95 & Bucks County. Easily accessible to the Philadelphia International Airport and Atlantic City's Int'l Airport. The property is being sold "AS IS".
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017