569 Morton Ave
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569 Morton Ave
6,000 SF 100% Leased Retail Building Rosenhayn, NJ 08352 $788,738 CAD ($131 CAD/SF) 8% Cap Rate
Investment Highlights
- Fully occupied
- Septic is newer
- Some upgrades
Executive Summary
Mixed-use property: Includes a 2,000 sq. ft. commercial storefront and four residential apartments (3 two-bedroom, 1 three-bedroom).
Revenue potential: Multiple streams of income from residential and commercial tenants.
Upgrades: Electric panels, hot water heaters, and HVAC system for the storefront have been modernized.
Utilities: Separate meters for all units, so tenants cover their own utilities—lowering landlord expenses.
Convenience: Fantastic location with easy access to RT 55, offering high visibility and accessibility.
Flexibility: Three tenants are on month-to-month leases, giving options for rent adjustments or new arrangements.
Updated systems: Modern septic and well systems ensure fewer maintenance headaches.
This could be ideal for an investor or owner-operator seeking passive income with minimal overhead due to the updates and tenant responsibility for utilities.
Revenue potential: Multiple streams of income from residential and commercial tenants.
Upgrades: Electric panels, hot water heaters, and HVAC system for the storefront have been modernized.
Utilities: Separate meters for all units, so tenants cover their own utilities—lowering landlord expenses.
Convenience: Fantastic location with easy access to RT 55, offering high visibility and accessibility.
Flexibility: Three tenants are on month-to-month leases, giving options for rent adjustments or new arrangements.
Updated systems: Modern septic and well systems ensure fewer maintenance headaches.
This could be ideal for an investor or owner-operator seeking passive income with minimal overhead due to the updates and tenant responsibility for utilities.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$86,044
|
$21.51
|
| Taxes |
-
|
-
|
| Operating Expenses |
$64,533
|
$16.13
|
| Total Expenses |
$64,533
|
$16.13
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $86,044 |
| Annual Per SF | $21.51 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $64,533 |
| Annual Per SF | $16.13 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $64,533 |
| Annual Per SF | $16.13 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Sale Condition
Sale Leaseback
Property Type
Retail
Property Subtype
Building Size
6,000 SF
Building Class
C
Year Built
1923
Price
$788,738 CAD
Price Per SF
$131 CAD
Cap Rate
8%
NOI
$63,099 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.20
Lot Size
0.69 AC
Zoning
Commercial - Zoned Commercial multi uses
Approximately 2000 sq ft corner retail/office store plus 4 residential apartments. Great opportunity for investors.
Frontage
266 ft on Morton
PROPERTY TAXES
| Parcel Number | 03-00015-0000-00006 | Improvements Assessment | $1,203,782 CAD |
| Land Assessment | $90,377 CAD | Total Assessment | $1,294,160 CAD |
PROPERTY TAXES
Parcel Number
03-00015-0000-00006
Land Assessment
$90,377 CAD
Improvements Assessment
$1,203,782 CAD
Total Assessment
$1,294,160 CAD
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569 Morton Ave
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