Professional Office Building - High Traffic Growth Area - $649,000

Professional office building, formerly occupied by advertising agency. Perfect location for clients with small to moderate size office requirements. Approximately 3500 square feet with seven fully rented offices. 1500 sf lower level, 2000 sf upper level. Exterior deck off rear office suites.

Zoning is C-1, the most lucrative for owners / investors ( zoning code below. )

Located on county highway, adjacent to Cherry Hill, half acre + , room for expansion. Regal hardwood trees surround building, ideal setting for suburban office with urban accessibility.

Working fireplaces on each level.

Best suited for end users: doctors, attorneys, professional agencies, etc.


Location Description:

20 minutes from center city Philadelphia.

10 minutes from all South Jersey major traffic arteries.

Marlton is the most desirable location in South Jersey, proximity to major medical (hospital) and commercial office facilities make property ideal location for doctors, attorneys, clinics, advertising agencies, other professional organizations.

Proximity to restaurants, clubs (Champs, Fridays,) services, retail (Staples, Borders, LL Bean.) Commerce Bank original corporate headquarters, other major banks within short drive. Honda, Pontiac, BMW dealerships nearby.

• Area in rapid development

• Well maintained property and landscaping

• Full Broadband capabilities

• Parking for 17 vehicles, newly seal-coated and relined

• Rented space falls between $16 - $27 psf

• Detailed tenant info upon request


Listing agent is related to Seller.

Brokers protected, 2.5% co-broke.


Andrew Knapp, Listing Agent
973.783.3226

drewknapp1@gmail.com

CENTURY 21 CEDARCREST REALTY
460 Bloomfield Avenue
Caldwell, NJ, 07006

901 Executive Building


Property Specifications:

Lot Size: 133' X 179' approx 24,413 sq. ft.
Construction: Frame
Water: City
Sewer: Septic
Age: 47 yrs.
Plumbing: Copper
Heat: (Main System) Hot Water Baseboard, natural gas
Heat: (Secondary System) Forced Air, propane
A/C: Central Air (2 zones)
Zoned: General Business (see below)
Parking Lot: Asphalt (Seal coated 11/2005)

Building interior is predominately plaster. Building exterior is stucco over brick (2 sides) and vinyl siding (2 sides).

Easement deeded to property grants access to install sewer line to Route #70 trunk line.


Number of Tenants: 7
Lease Terms: 1 – 3 years
Gross Income: $59,580
Net Income: $43,000 approx.

Utilities: $4,662
Insurance: $1,419
Cleaning: $1,500
Lawn/Yard/Building Maintenance: $1,953
Snow Removal: $1,257
Taxes: $8,580
Supplies: $425
Total Expenses: $21,277

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red star indicates location


Tenant Information:

Fully Occupied
Lease Terms: Year to year, automatic renewal, with 60 day termination clause that can be effectuated upon sale of building upon request of Buyer.
Gross Income: $4,951 per month


1 Suite A1,A2,A8 - 566 sf - $990 - to 4/2010 - Union Local
2 Suite A3,A4 - 374 sf - $925 - to 8/2009 - Realtor (not renewing)
3 Suite A5,A6 - 286 sf - $739 - to 7/2010 - Professional Nursing Service & Family Counseling
4 Suite A7 - 215 sf - $495 - to 3/2010 - Accounting Service
5 Suite B1,B2,B3,B4 - 624 sf - $885 - to 5/2010 - Educational Service
6 Suite B5 - 288 sf - $420 - to 7/2010 - Wine Importer (also on-site superintendent)
7 Suite B6 - 253 sf - $497 - to 9/2010 - Educational Service


Notes:

1. All leases are based upon a gross lease amount with landlord paying all expenses.
2. All leases have a 60 day termination clause which can be effectuated based upon the sale of the property. This option would give potential buyer the ability to issue termination notices if the existing tenant did not agree to new lease requirements.
3. All leases are designed with automatic renewals. Written notice is required. Rental increases have historically been tied to gov. “cost of living” indexes.

ZONING

160-68. Commercial-1 (C-1)

A. Purpose. To provide a commercial district which replaces a number of more narrowly defined districts located along the two major state highways through the Township, Routes 70 and 73. This district will have a wider array of allowable uses in order to provide more development flexibility in response to changing market conditions. To protect the public interest, performance standards related to the scale of development will be utilized. The standards will provide incentives to consolidate smaller parcels into larger development tracts. The complimentary and coordinated development of adjacent properties or the combining of lots into larger tracts shall be encouraged through the allowance of increased development intensity. The coordinated development will provide for common access and drives, shared parking, a unified architectural and building scheme, pedestrian malls connecting buildings, and coordinated storm drainage and open space areas to be part of an approved commercial development.

B. Principal permitted uses. Only the following shall be permitted:

(1) Planned commercial developments.
(2) Shopping centers.
(3) Department stores.
(4) Medical centers.
(5) Offices, all types.
(6) Offices of government agencies.
(7) Retail stores.
(8) Restaurants and taverns, not including fast-food or drive-through.
(9) Garden centers.
(10) Banks (including drive-through).
(11) Day-care facilities.
(12) General personal and business services. [Added 2-25-2003 by Ord. No. 3-2-2003]

C. Conditional uses (subject to Chapter 161):

(1) Service stations.
(2) Houses of worship.
(3) New automobile sales and services facilities.
(4) Fast-food and drive-through restaurants.
(5) Car washes.
(6) Arcades.
(7) Hotel/conference centers.
(8) Warehousing.
(9) Theaters and places of amusement.

D. Accessory uses.

(1) Off-street parking as required by this chapter.
(2) Off-street loading as required by this chapter.
(3) Signs, as regulated by this chapter.
(4) Storage, inside a building.
(5) Temporary construction and sales trailers.

E. C-1 performance regulations. The following area and dimensional regulations shall apply:

(1) It is the intention of this chapter to accommodate planned commercial developments with multiple buildings and/or lots, a circumstance often needed to provide financial flexibility for developers and users. In these cases, the standards which follow shall apply to the overall tract or assemblage of lots, and not for each individual lot in the development. The total area of the lots in planned commercial development shall determine which standards are to be utilized.
(2) Minimum lot size. Two acres, except for lots which are part of a planned commercial development, in which case lots may be as small as one acre in area.
(3) Street frontage and yard requirements for individual or combined lots proposed for development shall vary by lot area, based upon the following table:

Lot Size
2 to 4.99 Acres 5 to 9.99 Acres 10+ Acres
Frontage (feet) 200 400 600
Width (feet) 200 400 600
Depth (feet) 200 600 800
Side yard, each (feet):
From a residential use 50 75 100
From a nonresidential use 30 50 75
Front yard (feet) 100 100 100
Rear yard (feet):
From a residential use 50 75 100
From a nonresidential use 50 50 50
Maximum building cover 15% 20% 25%
Maximum impervious cover 55% 60% 65%
Clearing limit 75% 80% 85%

(4) Maximum building height: 40 feet; provided, however, that in a planned commercial development or shopping center with a gross floor area of 250,000 square feet or more, buildings or freestanding structures may have a height of 55 feet, subject to the following provisions:
(a) The structure or building with the increased height shall be designed as an architectural feature intended to provide additional design interest or focus to the development. Placement at the end of view corridors is encouraged.
(b) The area of increased height may be a decorative freestanding structure not intended for human occupancy, such as a clock tower, or it may be one or more buildings within the development.
(c) If the area of increased height is a building or a portion of a building, the gross floor area of all buildings containing such areas of increased height shall not constitute more than 20% of total gross floor area of the development.
(d) All buildings containing areas of increased height shall have a setback from the nearest property line equal to at least three times the maximum building height.

(5) Minimum building setback from another freestanding building within a development: 20 feet.
(6) The required minimum gross leasable floor area for the first building or first phase of any development shall vary, based upon the following table:
Lot Size(acres)
Required Minimum Gross Leasable Area(square feet)
2 to 4.99 10,000
5 to 9.99 20,000
10 and larger 40,000
(7) The base floor area ratio allowed in the zone is 0.15. A floor area ratio that exceeds 0.15, but in no event exceeds 0.22, may be developed, so long as the developer contributes the sum of $1 for each square foot of floor area to the Township Capital Fund for the benefit of low- and moderate-income housing or for traffic improvements.
(8) Direct access to a major arterial street is required for planned commercial developments, shopping centers, department stores, theaters, automobile sales and service and hotel/conference centers.
(9) Accessory buildings may not be located in the front yard nor closer than 50 feet from a residential use or zone unless the building is less than 400 square feet, in which case it may be as close as 25 feet from a residential use or zone.

F. Design standards. The design of buildings and adjacent landscaping shall be governed by the following criteria: (1) Architectural style of the development shall be designed to avoid the massive scale and uniform impersonal appearances of a "big box" commercial center through facade ornamentation, building offsets, window treatments, variation in rooflines, entry treatments and upgraded building materials.
(a) Building facades greater than 100 feet in length, including separate buildings that are attached, shall have recesses or projections of at least four feet extending over at least 20% of the length of the facade. There shall be no uninterrupted length of facade which exceeds 100 feet.
(b) Smaller retail stores with individual entrances can help to break up a long facade. Retail stores or restaurants of less than 25,000 square feet shall have glass facades between the height of three and eight feet for no less than 60% of the horizontal length of the building facade.
(c) Each building facade, including separate buildings which are attached, exceeding 100 feet in length shall have clearly defined, highly visible customer entrances that include at least three of the following: canopies or porticos; overhangs; recesses/projections; arcades; raised cornice parapets over the door; peaked roof forms; arches; outdoor patios; display windows; architectural details such as tile work and moldings which are integrated into the building structure and design; integral planters or wing walls than incorporate landscaped areas and/or places for sitting. Weather protection features such as awnings or arcades are required to extend over and provide cover within 30 feet of all customer entrances.
(d) Variations in rooflines shall be used to screen HVAC equipment and to provide interest and reduce the scale of large buildings. Roofs should have at least two of the following features: parapets to conceal flat roofs and equipment; overhanging eaves of at least three feet; sloping roofs with an average slope of between 3:1 and 1:1 that do not exceed the average height of the supporting walls; three or more roof slope planes. As per the definition of height of building or structure, rooftop equipment or the materials used to screen such equipment shall be included in determining the total height for the building.
(e) Exterior building materials and colors contribute significantly to the visual impact of a building. The exterior building skin shall be composed of one dominant facing material and not more than two additional materials. The dominant material shall comprise 60% or greater of each building elevation. [1] Dominant exterior materials may include:
[a] Wood.
[b] Brick.
[c] Stone.
[d] Concrete masonry unit (CMU). CMU allowed only as split face block or block molded with a textured surface.
[e] Glass, warm and cool tones.
[f] Stucco and synthetic stucco.

[2] Dominant exterior building materials may not include: [a] Aluminum siding.
[b] Vinyl siding.
[c] Smooth-faced CMU.
[d] Tilt-up concrete panels.
[e] Glass, highly reflective/mirrored.
(f) Dominant facade colors must be low reflectance, subtle, neutral, or earth-toned. The use of high-intensity colors, metallic colors and black is prohibited. Building trim and accents may feature brighter colors. Neon tube lighting may not be used for building trim or accent.

(2) Buffering, screening and landscaping, including tree protection and installation, as required by § 160-17 of this chapter and § 62-56.
(3) No parking may be placed in the required front yard setback area.

G. Outdoor storage. The use of outdoor areas for any type of storage is permitted as a conditional use and only in accordance with the standards in Chapter 161, Zoning Modifications and Additional Requirements. The use of semitrailers, metal storage or shipping containers or temporary storage buildings for temporary storage or during a loading or unloading procedure, is permitted only in designated loading areas for no more than seven days, unless an application for approval of a zoning permit is approved. An approved permit shall be valid for no more than 30 days.