$ 600,000
48 Elm Rd Newark City, NJ 07105
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$ 600,000
Est. payment | /mo
3,049 Sqft Lot
$ 600,000
Est. payment | /mo
3,049 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3925793
Annual Tax Amount $9,707
Tax Year 2023
Lot Size 3,049 Sqft
Property Description
This freestanding single-story commercial building with a basement offers a rare opportunity for business owners to purchase a property and start operating immediately in the highly desirable Ironbound section of Newark, NJ. Ideal for office use, the property allows you to run your business now while benefiting from future development potential.Included in the sale are city-approved plans to transform the property into a modern boutique three-family residential building, giving you the flexibility to maintain office operations or transition to a three-family rental building as the area continues to appreciate. Additionally, with city approval, you can convert the property into a mixed-use building, operating your business in one unit while renting out the remaining two units. The possibilities are endless, offering a perfect blend of immediate business use and long-term investment potential.This versatile property allows you to start generating cash flow now while setting the stage for future growth and development. With easy access to Newark Penn Station and Downtown Newark, this location is prime for expansion and opportunity.
Location
State NJ
County Essex
Zoning COM
Rooms
Basement Full, Unfinished
Interior
Cooling See Remarks
Equipment See Remarks
Exterior
Exterior Feature Brick/Block
Garage Spaces 2.0
Utilities Available See Remarks
Roof Type See Remarks
Parking Type Off-Street Parking
Building
Story 1
Water Public Water
Others
Ownership Fee Simple
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by COMPASS NEW JERSEY LLC
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