Property Description
Exceptional value-add investment opportunity in the heart of Gloucester City! This five-unit mixed-use property offers tremendous upside for investors, developers, or owner-operators looking to build equity through renovation and lease-up. The property features two storefronts, two apartments, and a large warehouse space in the rear. The primary storefront is currently occupied by the owner and will be delivered vacant at closing. It includes a kitchenette and a full bathroom, making it ideal for a variety of commercial uses. The second storefront has been partially renovated and is ready for the next owner to complete. Plumbing for a future bathroom is already in place, with flooring, paint, electrical work, and other finishing touches remaining. The residential portion includes two one-bedroom, one-bath apartments. The first-floor apartment has been completely gutted and is ready for a full renovation, allowing the next owner to customize it to maximize rental income. The second-floor apartment is currently rented for $750 per month, providing immediate income with additional upside through future rent stabilization. At the rear of the property is a spacious warehouse, creating additional opportunities for storage, commercial use, or supplemental rental income. The current owner has invested significantly in improving the property, enhancing the property's curb appeal and overall condition. Whether your strategy is to renovate and stabilize for long-term cash flow, reposition and resell for profit, or occupy a commercial space while generating rental income from the remaining units, this property offers exceptional flexibility and potential. Don't miss this outstanding opportunity to unlock the full value of this mixed-use investment at a great price. This property is sold 100% AS IS. The Buyer is responsible for all inspections and due diligence. The Buyer will be responsible for the Certificate of Occupancy and all township inspections.