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Listed by Lipa Brach Keller Williams Valley Realty
$ 549,000
Est. payment | /mo
$ 549,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25026379
Style Office
Property Sub-Type Office
Property Description
Introducing a Prime Investment Opportunity in a Highly Desirable Location! This captivating brick building offers exceptional versatility, serving both immediate commercial use and lucrative developmental prospects within the ARC-4 zoning district, as part of the Sussex Ave Redevelopment Plan. IMMEDIATE COMMERCIAL USE: The existing structure features sizable garages and multiple rooms, ideal for warehousing or office space, offering immediate rental income potential as you plan for future development. DEVELOPMENT POTENTIAL: With unapproved plans to convert the building into 14 residential units as of right, this property presents a significant opportunity to capitalize on the zoning benefits and strategic location. EXPANSION OPPORTUNITY: Consider expanding your investment by purchasing the adjacent city-owned property, where plans allow for the addition of 17 more residential units, further enhancing profitability. Positioned in a sought-after area with easy access to essential amenities, public transportation, and community facilities, making it attractive for both commercial tenants and future residents. Seize this unique opportunity to invest in a property offering both immediate commercial returns and substantial long-term development potential. Schedule a showing today to explore the endless possibilities this remarkable building holds for your portfolio!
Location
State NJ
County Essex
Interior
Heating Gas, Other/See Remarks
