Pictures of Mixed Use, Multifamily, Office, Retail property located at 2139 US-206, Belle Mead, NJ 08502 for sales - image #1

Pictures of Mixed Use, Multifamily, Office, Retail property located at 2139 US-206, Belle Mead, NJ 08502 for sales - image #2

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2139 Route 206, Belle Mead, NJ 08502

Mixed Use | 3,245 SF

Listing Contacts

Charles Horn
PRO
License: NJ
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Asking Price: $1,100,000

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Address

2139 US-206, Belle Mead, NJ 08502

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Date Added

Apr 3, 2024

Days on Market

352 days

Time Since Last Update

96 days

Details

Property TypeMixed Use, Multifamily, Office, Retail

SubtypeMedical Office

Lease TypeNNN

TenancySingle

Lease Term5 years

Lease Commencement05/01/2022

Lease Expiration04/30/2027

Remaining Term2.1 years

Square Footage3,245

Price/Sq Ft$338.98

Pro-Forma Cap Rate6.43%

Occupancy65%

Occupancy Date04/03/2024

Pro-Forma NOI$70,768

Units3

Year Built1860

Year Renovated1960

Buildings1

Stories2

ZoningCC-2

Lot Size (acres).83 - .97

Broker Co-OpYes

Lease Options1

Marketing Description

This 3,245+ SF mixed-use ‘Residential Over Retail’ commercial building is sited on .828 acres (tax map indicates the property is .828 acres, and the tax record indicates the property is .97 acres), on the northbound side of Route 206, in Montgomery Township. The building is comprised of a dental practice (“Belle Mead Orthodontics”) on the 1st floor, with two 1-bedroom/1-bathroom apartments above the Dental office. The lease for the tenant on the 1st floor is good through 4/30/2027, the tenant has a one 5-year option for renewal. The 1st Floor lease is a NNN lease. The two apartments above the Dental office are essentially vacant for the time being, presenting an opportunity to maximize income, net profit, and overall value. The parking lot facilitates 15+ parking stalls. The property is zoned “CC-2” and the principal permitted uses are as follows: retail sales of goods & services; banks, including drive-in facilities; offices & office buildings; small animal hospitals (in the CC-2 district only), excluding outside facilities and kennels; child care centers licensed by the Dept. of Human Services; public utility uses as a conditional use under N.J.S.A. 40:55D-62; service stations (in the CC-2 District only) as a conditional use under N.J.S.A. 40:55D-67 (See Montgomery Twp. Chapter 16. Land Development Section 16-4.11 CC-1 and CC-2 Community Commercial land use districts for all permitted and accessory uses). All three rental units are separately metered for gas & electricity. Public water. Septic system. The utilities are located in the basement & partial basement (both have interior and exterior access). The 1st floor commercial space entrance is on the south-facing side of the building, and the two residential apartments on the 2nd floor have a separate entrance on the north-facing side of the building. Ideal for an investor, and/or, owner/user. Please contact the Listing Agent... Charles G. Horn, at (609) 933-9300 (Cell/Text) for additional details and to schedule a showing appointment.

Investment Highlights

Mixed-Use Commercial Property on Route 206- 2 Residential 1-Bedroom Apartments over Retail/Medical Office...
3,245+ SF Free-Standing Building Sited on .828 acres - .97 Acres on Route 206 (Northbound) in Montgomery Township...
Retail/Medical Office Is Leased Through 4/30/2027 with an Option to Renew for 5 Years...
Lease Out the 2 Residential Apartments Over The Dental Office to Maximize Gross & Net Income...
Located Between Princeton Township & Hillsborough Township on Busy Route 206...
Actual & Proforma Financials Available with a NDA...