103-105 Union St, Lodi, NJ 07644

This well-maintained commercial building, located at 103-105 Union Street in Lodi, New Jersey, presents a versatile opportunity with three distinct suites, each featuring its own separate entrance. The property offers a total of 4,300 square feet of space and is zoned for commercial use. Suite 1 is currently occupied by the owner, an eye doctor, and includes a waiting room, reception office with a desk, a lens wear fitting room for patients, two examination rooms, an office, a lab, and a bathroom. This configuration is well-suited for medical practices.

Suite 2 is occupied by a tenant operating a spa. This suite comprises a reception area, a storage room, three additional examining rooms, and 1.5 bathrooms. The layout is designed to accommodate service-oriented businesses. Suite 3, located at 105 Union Street, is currently vacant and offers a waiting room, a reception desk, five additional rooms, and 1.5 bathrooms. This suite also benefits from a separate entrance and direct access to the adjoining unit, providing flexibility for a new tenant or owner-user.

The building, constructed in 1960, is a single-story structure with a building class of C. It is attached at 105 to 103 Union Street. The property provides ample parking with space for 12 cars, and a private entrance to the parking lot is located in the rear. A full basement extends beneath the entire building and is currently utilized for storage for all units, offering significant additional space for operational needs. Front and rear access is available to all separate units, enhancing convenience and accessibility.

This property is categorized as an investment or owner-user opportunity, with a current cap rate of 3.43%. The cap rate is influenced by the vacancies and owner-occupied status. The building's multiple tenancy structure and the availability of a vacant suite make it a compelling option for businesses seeking a prime location in Lodi, NJ, or for investors looking to capitalize on the commercial real estate market. The property's adaptable layout supports a wide range of business types, including medical offices and other professional services.