For Sale 111 indiana, Atlantic City, NJ, 08401

While currently undeveloped, the property holds exciting possibilities subject to city approval. Partner with the City\'s Planning Department to explore zoning regulations and discuss potential uses for the land. The seller is motivated and welcomes your offer to bring this property to life. The buyer is responsible for all approvals. Assessment and Taxes based on 2 Lots

Four-Story Mixed Use Investment Building in the heart of Atlantic City. Located in the Tourism, Opportunity and Green Zones, providing this building, and buyers, with lots of flexibility. 25 S MLK is one block from the beach/boardwalk and two blocks from the Orange Loop, Tanger Outlets, Claridge Hotel and Bally\'s Casino. This area provides lots of amenities for guests or tenants. Currently the building is comprised of one retail store and an apartment on the first floor with a land use showing four apartments and eight single rooms overall. Lots of potential here. Current owners recently updated the roof, siding, and windows. Sitting next to Atlantic City\'s Civil Rights Garden and Carnegie Center grant this building a beautiful setting unique to itself. Call for marketing package and P & L.

10.6% CAP RATE!! INVESTOR ALERT - Turnkey Cash Flowing Commercial Mixed Use property! Located next to the new development site of a 125,000 Square foot agricultural museum. This Mix-use property consists of approximately 4,602 sq.ft. with a store front and 2 apartments. All units have separate gas and electric. First Floor is a Commercial storefront with 2 private bathrooms. The commercial space is approximately 2,200 square feet. Apartment 1 has Three bedrooms with newly painted walls and carpet with a large private back deck. Apartment 2 is a two-level fully renovated/remodeled Two bedroom with Den/extra sleeping area. Also comes with a very large private deck off the kitchen. New Kitchen, Flooring, lighting, paint, doors, and all new trim. Located in the heart of it all!!! Close to the Atlantic City Hospital, Casinos, beach and boardwalk. Convenient location for Casino or Hospital workers!!! Annual NOI of $50,250 putting this listing at a 10.6% cap rate!! Rental Income: Storefront $2,500 or $30,000 per year with annual rent increase on a 10-year lease; Apartment One $1,650 or $19,800 per year; Apartment two $1,650 or $19,800 per year. Total annual income of $69,600. Annual Expenses: Water & Sewer $1,100.00 per year; Insurance $4,500 per year; Property Tax $8,750; Misc $5,000 per year.