This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
15 4th St
South Orange, NJ 07079
Specialty Property For Sale
·
7,492 SF
PROPERTY FACTS
| Property Type | Specialty | Building Size | 7,492 SF |
| Property Subtype | Parking Garage | No. Stories | 2 |
| Building Class | C | Year Built | 1895 |
| Lot Size | 0.23 AC | Parking Ratio | 1.07/1,000 SF |
| Zoning | B-B3 - General Business | ||
| Property Type | Specialty |
| Property Subtype | Parking Garage |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 7,492 SF |
| No. Stories | 2 |
| Year Built | 1895 |
| Parking Ratio | 1.07/1,000 SF |
| Zoning | B-B3 - General Business |
ABOUT 15 4TH ST , SOUTH ORANGE, NJ 07079
The subject property currently consists of a 2 story framed house with 2 apartments and 3 garages on a 7,492 SF Lot. Due to the location and 4 block walk to the midtown direct train this property should be re-developed in order to take advantage of the location and other ongoing re-development projects in the area. . Location is zoned Business B-3 General which allows for many possible commercial/residential uses. Most likely this will be a mixed use building containing 1 commercial unit with apartments above. There are NO Approvals being offered with this sale but similar lots have been redeveloped in the area with an average of 1 unit per 900 SF of Lot Size. Based on this number you could assume to redevelop this lot with 6-8 residential units over 1 commercial unit and parking. The house is currently occupied by 2 (month-to-month) tenants. There is a 2 story garage on site with 3 large garages that are (9"ft" high and 11"ft" wide). This property currently generates $2,300 per month in rental income although this number could potentially increase by $750-$1,000 per month by renting out the parking lot and garages. . There is no income generated from the parking lot or garages at this time. The owner is willing to hold a first mortgage on this property in the amount of $550,000 at 5% interest with a $100,000 down payment.
