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481 Springfield Ave 2,532 SF 100% Leased Retail Building Berkeley Heights, NJ 07922 $875,000 ($345.58/SF)
Executive Summary
REDEVELOPMENT/INVESTMENT OPPORTUNITY! PRIME CORNER .34-ACRE PROPERTY LOCATED IN THE DOWNTOWN DEVELOPMENT (DD) ZONE OF BERKELEY HEIGHTS. THE PROPERTY FEATURES A TWO-FAMILY HOME AND A DETACHED THREE-CAR GARAGE WITH AN APARTMENT, OFFERING IMMEDIATE INCOME POTENTIAL WHILE PLANNING FOR FUTURE REDEVELOPMENT. THIS PARCEL MAY ALSO BE COMBINED WITH THE ADJACENT PROPERTY AT 483-487 SPRINGFIELD AVENUE (MLS # 4038717), CREATING A COMBINED SITE OF APPROXIMATELY .50 ACRES FOR EXPANDED DEVELOPMENT POSSIBILITIES.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Building Size
2,532 SF
Year Built
1900
Price
$875,000
Price Per SF
$345.58
Percent Leased
100%
Building Height
2 Stories
Moderately walkable
60/100
Very drivable
80/100
Good public transit
70/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 01-00206-0000-00010 | Improvements Assessment | $140,800 |
| Land Assessment | $179,900 | Total Assessment | $320,700 |
Property Taxes
Parcel Number
01-00206-0000-00010
Land Assessment
$179,900
Improvements Assessment
$140,800
Total Assessment
$320,700
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481 Springfield Ave