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30 Approved Multi Family Apartment Units 200 Spring St 6,700 SF Retail Building Newton, NJ 07860 $1,500,000 ($223.88/SF)
INVESTMENT HIGHLIGHTS
- Major Employers in Town (Thor Labs, Newton Memorial Hospital).
- Train to NYC coming to Andover (next town over).
- Healthy Rents in the Area with No Rent Control.
- Increased Population and Favorable Demographics.
- Lack of Inventory for Apartment Renters.
EXECUTIVE SUMMARY
28 Residential Apartments (21 One BR and 7 Two BR) and 2 Retail (one ground floor and one roof top restaurant) All approved.
25 Market Rate and 3 Affordable housing units
Wonderful opportunity to build a new ground up multi family structure in heart of Newton.
Parking will be purchased from Newton Municipal Lot as per resolution.
Please contact Marc for Building Plans, Resolution and additional Information.
Newton is very development friendly town. T-6 Zoning.
25 Market Rate and 3 Affordable housing units
Wonderful opportunity to build a new ground up multi family structure in heart of Newton.
Parking will be purchased from Newton Municipal Lot as per resolution.
Please contact Marc for Building Plans, Resolution and additional Information.
Newton is very development friendly town. T-6 Zoning.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
6,700 SF
Year Built
1950
Price
$1,500,000
Price Per SF
$223.88
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.97
Lot Size
0.16 AC
Zoning
T-6 - T-6
Frontage
50’ on Spring
Walk Score®
Very Walkable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 15-00008-09-00008 | Improvements Assessment | $284,200 |
| Land Assessment | $108,700 | Total Assessment | $392,900 |
PROPERTY TAXES
Parcel Number
15-00008-09-00008
Land Assessment
$108,700
Improvements Assessment
$284,200
Total Assessment
$392,900
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30 Approved Multi Family Apartment Units | 200 Spring St
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