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506 N High St, 
Millville, NJ 08332

$199,900


3

Beds


Bath


1,189

Sq Ft


Multi-Family

Active

Listed by

Michael Depalma

Depalma Realty

Last updated:

May 1, 2025, 01:26 PM

MLS#

NJCB2023964

Source:

BRIGHTMLS

About This Home

506 N High St

3-unit mixed use building in Millville's growing downtown, for less than $200,000.00! Taxes under $2,000 per year! The property offers a 10%+ cap rate at current rents with plenty of room to grow. This property is 3 units, with two store fronts and a 3 bedroom 1 bathroom apartment upstairs already renovated and rented. The two storefronts were recently leased to great tenants on 3 year leases with rent increases for each year. Each storefront will also be renovated by the future tenants. Upstairs brings in a gross annual rent of $18,900.00 per year. In total, gross annual rents for the next twelve months will be $26,100.00. The Cap Rate and Cash on Cash returns are both very attractive on current and on a pro forma basis. Situated next to the phenomenal DC Gallery & Studio and across from the Village on High, this property is ready to take on new life with new ownership. The upstairs 3 bedroom apartment was recently completely rehabbed and a new gas boiler was installed for the building just a few days ago. Take advantage of this deal and be part of High Street before all the other development takes place and the barrier to entry becomes too high! With instant cash flow and potential to generate much more into the future, this building is a fantastic investment for both the new and experienced investor. Schedule a showing today!

Home Facts

Multi-Family

3 Bedrooms

Built in 1920

Price Summary

199,900

$168 per Sq. Ft.

MLS #:

NJCB2023964

Last Updated:

May 1, 2025, 01:26 PM

Added:

1 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

3


Structure

Structure

Building Area:

1,189 Sq. Ft.

Year Built:

1920


Lot

Lot Size (Sq. Ft):

1,306


Finances & Disclosures

Finances

Price:

$199,900

Price per Sq. Ft:

$168 per Sq. Ft.

Source:BRIGHTMLS
The information being provided by Bright MLS is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Bright MLS All rights reserved.

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