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The Bollack Team

bollackteam@gmail.com +1(443) 299-7994

Listed by Ken McIlvaine • BHHS Fox & Roach-Mullica Hill South

$ 280,000

Est. payment -/mo

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31 OAK ST Salem, NJ 08079

0.52 Acres Lot

UPDATED:

Key Details

Property Type Commercial

Sub Type Special Purpose

Listing Status Active

Purchase Type For Sale

MLS Listing ID NJSA141818

HOA Y/N N

Year Built 1952

Tax Year 2020

Lot Size 0.517 Acres

Acres 0.52

Lot Dimensions 150x150

Property Sub-Type Special Purpose

Source BRIGHT

Property Description

The building is a two story brick school facility. It consists of 11 rooms, 4 restrooms, office and boiler room. Currently, the subject site has 38,700 SF of land area. The owner will submit for approval of a subdivision once a buyer is obtained. Subsequent to the proposed subdivision, the new subject parcel would include only the school and parking lot (22,521 SF). Seller requests limited shared use of parking on Sundays and certain special days. Subject is located in Flood Zone X an area that is determined to be outside the 100 and 500 year floodplains. Property Type Special Purpose Design; Single-Tenant; Owner-Occupied; Number of Buildings 1; Number of Stories 2; Net Rentable Area (NRA) 6,325 SF; Gross Building Area (GBA) 6,325 SF; Floor Plate 3,163 SF; Site Coverage Ratio 14.0%; Land to Building Ratio 3.6:1; Parking 24 (Surface) 3.8/1,000 SF NRA; Year Built 1952; Quality Average; Condition Average; Basic Construction Concrete block; Foundation Poured concrete slab; Framing Concrete Block; Exterior Walls Brick; Roof slight pitch tar and gravel; Insulation Assumed to be standard and to code for both walls and ceilings; Heating Gas fired boiler with radiant heat system; Air Conditioning Window units; Lighting Fluorescent and Incandescent; Interior Walls Drywall/ concrete block; Electrical commercial phases; Ceilings Acoustical tile and drywall; Windows Glass in aluminum frames; Doors Metal doors with glass in metal frame. Subject is presently tax exempt. The current tax value for all buildings on the site is as follows: Exempt Total Asmt: $377,500; Total Land Asmt: $177,600; Total Bldg. Asmt: $199,900; Total Asmt: $377,500; Exempt Land Asmt: $177,600. Assuming a buyer would use the property for some non-tax exempt purpose and the post subdivision total assessment would be $200,000 the estimated real estate tax would be $14,138.

Location

State NJ

County Salem

Area Salem City (21713)

Zoning R-1

Interior

Hot Water Natural Gas

Heating Radiant

Cooling Window Unit(s)

Inclusions TO BE DETERMINED

Equipment Negotiable

Heat Source Natural Gas

Exterior

Garage Spaces 24.0

Utilities Available Above Ground, Cable TV, Electric Available, Phone Available, Sewer Available, Water Available

Water Access N

View Street

Roof Type Other

Street Surface Black Top

Accessibility Other, Level Entry - Main, Doors - Lever Handle(s), 48\"+ Halls

Road Frontage City/County

Total Parking Spaces 24

Garage N

Building

Lot Description Cleared, Level, Other

Foundation Slab

Sewer Public Sewer

Water Public

New Construction N

Schools

Middle Schools Salem

High Schools Salem

School District Salem City Schools

Others

Tax ID 13-00056-00028

Ownership Fee Simple

Security Features Smoke Detector

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard, Other

NEARBY SCHOOLS & PROPERTIES

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+1(443) 299-7994

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31 OAK ST Salem, NJ 08079

Key Details

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