404 Central Ave - Storefront Retail/Office FOR SALE


East Orange, NJ 07018
$1,750,000 USD
201-355-3103
404 Central Ave, East Orange, NJ for Sale
$1,750,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | 10.23% Cap Rate

404 Central Ave
East Orange, NJ 07018


HIGHLIGHTS

  • Proposed Development Opportunity - Retail or Mixed Use (39 Residential Units + Retail)
  • High Traffic
  • Value Add
  • Commercial Business District

OVERVIEW

Two lots (Block 510, Lots 29 & 30) available for sale together or separately. Zoned CAE/CAC. Ideal for redevelopment of a larger asset Commercial or Mixed-use. Zoning analysis suggests a five to seven story mixed use building may be allowed without variances with a typical floor size of 10,000 SF. Architect recommendation is for a 48,000 SF five or six story mixed use building with Retail and parking on the ground level and 37-45 residential units plus amenities on the upper levels. Assemblage of lots 29 and 30 would yield approx. 17,001 SF or a 0.39 acre lot. See attached Due Diligence Docs. Property is sold in strictly AS IS condition. The existing structures can be renovated if there is no interest in new development. Proposed: Parking: 37 Spaces 1 BR: 715 SF: 16 units 2 BR: 1099 SF: 12 units 3 BR: 1419 SF: 9 units Retail: 2250 SF

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$257 USD /SF

CAP RATE

10.23%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

404-410 Central Ave

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

CAE/CAC - Commercial Dist

APN/PARCEL ID

05-00510-0000-00030

ASK ABOUT THIS PROPERTY

Marcos ClaudiusKW CommercialMore Info
201-355-3103

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201-355-3103

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