23 Harker Ave
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23 Harker Ave
4,100 SF 39% Leased Office Building Berlin, NJ 08009 $666,211 CAD ($162 CAD/SF)
Investment Highlights
- Fully built out for Medical office
- 3.1 miles to Virtua Vorhees Hospital and proximate to many local clinics
- Located on the northwest corner of Harker and Atlantic Avenues
- Excellent ownership and maintenance record with new roof
- Potential to use as income property, your own medical office, or both
Executive Summary
4,100 S.F Medical office Building on a large corner lot in Berlin, NJ. See attached zoning for all the possible business use. The building is currently split into two offices with separate entrances and facilities with the option of an additional third separate office space. This allows medical practitioners to have their own individual office space while sharing a building with other medical professionals. The property has been recently updated with a new roof, which is only two years old. Additionally, there are two above ground oil tanks and two air conditioners that have also been recently updated Currently office space 1 (units 21 &23) is 2,500 S.F and offers a large waiting room, reception area, patient restroom, private office with full bathroom, 7 exam rooms with sinks, 1 lab room, 1 storage/break room. Office space 2 Unit #19 is 1,600 SF with a current lease in place ending 6/30/2024. Convenient location making it easy for patients to reach the building. Close to the many shopping centers and restaurants along Route 30, Route 73. Easy access to Interstate 295, NJ Turnpike, AC Expressway, Garden State Parkway and Shore points. There is ample parking available for patients and staff. Overall, this medical office is an excellent investment opportunity for medical professionals looking for a well-maintained and convenient location to serve their patients.
Financial Summary (Actual - 2022) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$63,616
|
$15.52
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$63,616
|
$15.52
|
| Taxes |
$26,358
|
$6.43
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$26,358
|
$6.43
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2022)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $63,616 |
| Annual Per SF | $15.52 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $63,616 |
| Annual Per SF | $15.52 |
| Taxes (CAD) | |
|---|---|
| Annual | $26,358 |
| Annual Per SF | $6.43 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $26,358 |
| Annual Per SF | $6.43 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
High Vacancy Property
Property Type
Office
Property Subtype
Building Size
4,100 SF
Building Class
C
Year Built
1985
Price
$666,211 CAD
Price Per SF
$162 CAD
Percent Leased
39%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,100 SF
Building FAR
0.16
Lot Size
0.60 AC
Zoning
C-2 & PC-2 - Neighborhood Commercial District
Parking
22 Spaces (5.36 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Air Conditioning
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Amy L. Golden D.M.D. Inc
- Health Care and Social Assistance
- 1,600 SF
- $1.64 CAD
- Plus Electric
- Jun 2024
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Amy L. Golden D.M.D. Inc | Health Care and Social Assistance | 1,600 SF | $1.64 CAD | Plus Electric | Jun 2024 |
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PROPERTY TAXES
| Parcel Number | 05-01003-0000-00002 | Total Assessment | $773,520 CAD (2024) |
| Land Assessment | $206,038 CAD (2024) | Annual Taxes | $26,358 CAD ($6.43 CAD/SF) |
| Improvements Assessment | $567,482 CAD (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
05-01003-0000-00002
Land Assessment
$206,038 CAD (2024)
Improvements Assessment
$567,482 CAD (2024)
Total Assessment
$773,520 CAD (2024)
Annual Taxes
$26,358 CAD ($6.43 CAD/SF)
Tax Year
2022
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23 Harker Ave
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