517 S PENNSVILLE AUBURN RD CARNEYS POINT, NJ 08069

$1,700,000

Pending
1 of 32

Bedrooms

Total Baths

Full Baths

Square Feet

11.80

Acres

Year Built

74 days

On Website

Pending

Status

Welcome to the New Jersey Opportunity Zones! This vacant land sits at the base of the NJ Turnpike and easily accessed via I-295. Property is clear and ready to be developed. Public Water/Sewer and natural gas are available. The Opportunity Zones program was enacted as part of the 2017 federal Tax Cuts and Jobs Act and is designed to drive long-term capital investments into low-income rural and urban communities. This federal program provides opportunities for private investors to support investments in distressed communities through participation in Qualified Opportunity Funds. Investors can defer paying federal taxes on capital gains reinvested in Qualified Opportunity Funds that invest in low-income communities, under rules released by the U.S. Department of the Treasury. Reinvested capital gains are deferred from taxation until exit from a Qualified Opportunity Fund or December 31, 2026, whichever comes first. However the original gains reinvested in Qualified Opportunity Fund investments held for the long term are taxed at reduced rates, with taxable gains discounted by 10% at the 5-year mark and by an additional 5% discount at the 7-year mark. Any new gains from Qualified Opportunity Fund investments held for at least 10 years will be permanently excluded from the capital gains tax. Combined with incentives from the State, this program makes doing business in Carneys Point Township the township to choose!

Listed By Keller Williams Hometown Realty

Details


Interior

Building And Construction
Property Sub Type
Retail
Property Type
Commercial Sale

Exterior And Lot
Lot Size Acres
11.8
Lot Size Square Feet
514008
Lot Size Units
Square Feet
Zoning
GENERAL COMMERCIAL

Utilities
Cooling
None
Cooling Fuel
None
Heating
None
Heating Fuel
None
Hot Water
None

Area And Schools
City
Carneys Point
County Or Parish
Salem
High School District
Penns Grove-carneys Point Schools
Municipality
Carneys Point Twp

Financial Info
Buyer Agency Compensation
3%
Short Sale
No
Tax Annual Amount
$39,495.00
Tax Year
2020

Additional Info
Close Date
2021-09-03t04:00:00.000z
Status Detail
Pending
TaxDataUpdatedYN
N

Listing By Keller Williams Hometown Realty

MLS# NJSA129902

Data Last Updated 12:59am - 05/16/2021

BRIGHT MLS

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which RE/MAX of Wilmington participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright© 2021 Bright MLS. All rights reserved.

08069 Statistics and Information

Transportation

Walking

Very Walkable

Your browser is out of date or unsupported. Some features of this website may not work until you update to a supported browser. More Info

Your browser is not currently supported. We recommend viewing REMAX.com and it's affiliated sites on one of the following browsers: