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Description

Discover a prime investment or owner occupied opportunity with this industrial property located on Magnolia Ave in Elizabeth, NJ. Spanning 22,000 square feet and situated on nearly an acre of land, this vacant building is offered at $4,500,000. The property is equipped with three 20-foot-high loading docks and two additional garages, ensuring excellent logistics and storage functionality for a variety of industrial uses.Adding to its appeal, the property includes two parking lots currently generating $10,500 per month in rental income on a month-to-month basis, offering immediate cash flow potential. Its strategic location near Newark Liberty International Airport and the Elizabeth Port Authority further enhances its value, making it an ideal choice for businesses reliant on transportation and shipping.Zoned C2, this property offers flexible use opportunities. Buyers are encouraged to consult with the local municipality to explore permitted uses and maximize the property's potential. Don't miss this chance to invest in a high-growth, sought-after area. .Possibility to build an apartment complex. However, not approved by the town and the sale it's not contingent on being that being approved.

Features

Heating System : No Heat
Cooling System : No Cool
Roof Deck : Asphalt Shingle
Furnished : Concrete
Tax Assessed Valuation: 3563800
Sewer: Public Sewer
Water: Public Water

Appliances

Utilities: All Underground, Gas In Street

Additional Info

Office Name: SIGNATURE REALTY NJ
Office MLS ID: 4134
Agent ID: 301451
Tax: 68567
Tax Year: 2024
Application Fee: $0
Zoning: Industrial

Commercial For Sale

For Sale

$4,500,000

1062 Magnolia Ave, Elizabeth City, *

0.76 Acre
Built Year 1920

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5334027
Price: $4,500,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 1920
Year Built Description: Approximate
Lot Area: 0.76 Acre
Status: Active
Days On Market: 5

Contact Agent

Email:

wp@applicationx.net

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Map

Address Map

Country US
County Union
City Elizabeth City
Zipcode *
Street: Magnolia Ave
Street Number: 1062
Street Direction: Division st to Magnolia ave.
Floor Number: 0
Longitude: W75° 47' 33.9''
Latitude: N40° 40' 4.8''
Internet Display Address: Yes