KELLY’S KORNER 75 Morrell St

3,000 SF 100% Sale Retail Building New Brunswick, NJ $1,250,000

Property Features

  • Sale Type: Investment
    Sale Condition: Sale Leaseback
  • Property Type: Retail
  • Property Subtype: Storefront Retail/Residential
  • Building Size: 3,000 SF
  • Year Built/Renovated: 1950/2020
  • Price: $1,250,000
  • SF: $417
  • Percent Leased: 100%
  • Tenancy: Multiple
  • Building Height: 3 Stories
  • Building FAR: 0.98
  • Land Acres: 0.07 AC
    Zoning: R-5A
  • Parking: 10 Spaces (3.33 Spaces per 1,000 SF Leased)
  • Opportunity Zone: No

Executive Summary

IMIXED-USE COLLEGE INVESTMENT PROPERTY. Opportunity that comes by once in a generation (if you’re lucky). College and city favorite Kelly’s Korner(tenant) and two-story apartment. Recession proof business. Newly renovated with off-street parking. Steps from the Rutgers Student Center and Easton Avenue. Apartment features 5 bedrooms and two bathrooms. One of only two bars interior to Easton Avenue on the College Avenue side. Separate utilities. Solar power system. BUSINESS AND LIQUOR LICENSE AVAILABLE SEPARATELY FOR $450,000.

Investment Highlights

  • College/city mixed-use property

Transportation

Commuter Rail

  • New Brunswick Commuter Rail (North Jersey Coast Line)
  • Jersey Avenue Commuter Rail (North Jersey Coast Line)

Property Taxes

  • Parcel Number: 13-00079-0000-00001
  • Improvements Assessment: $294,300
  • Land Assessment: $150,000
  • Total Assessment: $444,300