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Description

LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is ideal for builders and investors looking to capitalize on one of the most desirable commercial streets in the city. The property is currently home to a Crown Fried Chicken (owned by the seller) and a nail salon, which generates $4,000 per month in rental income. However, the property can be delivered fully vacant, providing maximum flexibility for the buyer to reimagine its use. Per the seller's claims (buyer to conduct their own due diligence), the zoning allows for the construction of up to four floors plus a ground floor, which could accommodate 12 residential units and two commercial spaces. The true value lies in the property's prime location and development potential, making it a perfect addition to any investor's or developer's portfolio. Don't miss this opportunity to secure a high-visibility property in Newark's thriving urban landscape schedule your showing today!

Features

Heating System : Floor/wall Heater
Cooling System : Wall A/c Unit(s)
Basement : Full, Storage
Roof Deck : Flat
Tax Assessed Valuation: 700000
Sewer: Public Sewer
Water: Public Water

Appliances

Utilities: All Underground
Internet

Additional Info

Office Name: REAL
Office MLS ID: 4989
Agent ID: 402719
Tax: 26621
Tax Year: 2024
Application Fee: $0
Zoning: COMMERCIAL

Commercial For Sale

For Sale

$2,280,000

895 Broad St, Newark City, *

30.10 Acre
Built Year 9999

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5334663
Price: $2,280,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 9999
Year Built Description: Unknown
Lot Area: 30.10 Acre
Status: Active
Days On Market: 1

Contact Agent

Email:

wp@applicationx.net

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Map

Address Map

Country US
County Essex
City Newark City
Zipcode *
Street: Broad St
Street Number: 895
Street Direction: BROAD ST AND WILLIAM ST INTERSECTION
Floor Number: 0
Longitude: W75° 49' 33.1''
Latitude: N40° 43' 57.4''
Internet Display Address: Yes