895-897 Broad St new Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07102
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3943058
Annual Tax Amount $26,621
Tax Year 2024
Lot Size 4,791 Sqft
Property 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!
Location
State NJ
County Essex
Building
Sewer Public Sewer in Street
Water Public Water in Street