2219 PARK AVE Active Save Request In-Person Tour Request Virtual Tour
South Plainfield,NJ 07080
Key Details
Property Type Commercial
Sub Type Five Or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $188
MLS Listing ID NJMX2006058
Year Built 1970
Annual Tax Amount $14,838
Tax Year 2022
Lot Size 0.370 Acres
Property Description
INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)
Location
State NJ
County Middlesex
Area South Plainfield Boro (21222)
Zoning OBC1
Interior
Hot Water Natural Gas
Heating Forced Air
Cooling Central A/C
Exterior
Garage Spaces 26.0
Waterfront N
Water Access N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District South Plainfield Schools
Others
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard