NJ > Maplewood Twp.
Maplewood Twp., NJ 07040,12 44th St
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Maplewood Twp., NJ 07040,12 44th St
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Patric Santo Pietro

Patric Santo Pietro

+1(732) 570-5442
$ 1,100,000
Est. payment /mo
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12 44th St Maplewood Twp., NJ 07040

0.35 Acres Lot

UPDATED:

01/18/2025 12:22 AM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3941536

HOA Y/N No

Annual Tax Amount $16,092

Tax Year 2024

Lot Size 0.350 Acres

Property Description

Combination of 2 lots (1016-1022 Chancellor Ave & 12 44th St )This property offers a unique opportunity for visionary developers, with several strategic options to maximize its potential. One immediate possibility is to rent the existing house while awaiting township approvals. This approach provides an interim income stream, ensuring the property generates value even during the planning phase. Renting the house also enables developers to maintain flexibility as they navigate the approval processes. Another compelling option is to demolish the existing structure and build townhouses, aligning with the character of the neighborhood, as evidenced by similar developments nearby. Developers can secure approvals to construct townhouses while renting the house during the waiting period to offset holding costs. This dual strategy supports a seamless transition from demolition to construction, leveraging both short-term and long-term revenue opportunities. Alternatively, developers may leave the house as is or convert it into a two-family residence, focusing construction efforts on Lot 17. For this option, merging the lots is essential to apply for a variance, an important step to unlock the full potential of the project. This flexible approach caters to developers interested in both immediate and phased development, making this property a versatile investment opportunity.

Location

State NJ

County Essex

Zoning Commercial

Interior

Inclusions Residence, See Remarks

Building

Lot Description Backs to Park Land, Corner, Irregular Lot, Level Lot

Sewer Public Sewer on Property

Water Public Water on Property

Others

Senior Community No

Miscellaneous See Remarks

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by COLDWELL BANKER REALTY
agent

Patric Santo Pietro

Agent | License ID: 1007170

+1(732) 570-5442

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12 44th St

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