NJ > Newark City
Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
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$600,000
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3,049 Sqft Lot
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48 Elm Rd Newark City, NJ 07105

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Isaac De Castro

Isaac De Castro

+1(646) 626-7901

UPDATED:

09/25/2024 12:10 PM

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3925793

Annual Tax Amount $9,707

Tax Year 2023

Lot Size 3,049 Sqft

Property Description

This freestanding single-story commercial building with a basement offers a rare opportunity for business owners to purchase a property and start operating immediately in the highly desirable Ironbound section of Newark, NJ. Ideal for office use, the property allows you to run your business now while benefiting from future development potential.Included in the sale are city-approved plans to transform the property into a modern boutique three-family residential building, giving you the flexibility to maintain office operations or transition to a three-family rental building as the area continues to appreciate. Additionally, with city approval, you can convert the property into a mixed-use building, operating your business in one unit while renting out the remaining two units. The possibilities are endless, offering a perfect blend of immediate business use and long-term investment potential.This versatile property allows you to start generating cash flow now while setting the stage for future growth and development. With easy access to Newark Penn Station and Downtown Newark, this location is prime for expansion and opportunity.

Location

State NJ

County Essex

Zoning COM

Rooms

Basement Full, Unfinished

Interior

Cooling See Remarks

Equipment See Remarks

Exterior

Exterior Feature Brick/Block

Garage Spaces 2.0

Utilities Available See Remarks

Roof Type See Remarks

Parking Type Off-Street Parking

Building

Story 1

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by COMPASS NEW JERSEY LLC

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Isaac De Castro

Real Estate Advisor | 3561456; 1750974; 10401278264

+1(646) 626-7901

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