404 Central Ave - Office/Residential 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
Office/Residential - FOR SALE
1/12
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 39 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 Proposed Parking: 1 BR Parking Spaces = 25 * 0.5 = 13 spaces 2 BR Parking Spaces = 14 * 1 = 14 spaces Total Required = 14 + 13 = 27 spaces Total Proposed = 30 Parking Spaces

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

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

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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