56 Baldwin Ave
Jersey City, NJ 07306
Engineering & Refigeration · Industrial Property For Sale

The property, owned and occupied by Engineering & Refrigeration, Inc., more commonly known as 56-58 Baldwin Avenue, is offered as a full building, short term, triple net sale lease back property with the existing owner occupying 100% of the current space. The building offered is a 2-story, class C industrial warehouse and office building with a gross building area of ±15,140 square feet of which approximately 60% is finished office space in average repair. The building, constructed in the 1920’s, is in average condition for its age. The building has an average ceiling clearance in the warehouse area of ±13 feet and is serviced by one overhead loading door and one freight elevator. There is no on­ site parking but the industrial building is designed in a way to be functionally adequate to perform for its owner’s use. The utilization of the property is a pre-existing, non-conforming use within a residential, R-1, zone. The property is a perfect example of functional obsolescence within an ever changing real estate market known as the Palisades Preservation District. For any significant development the new owner will seek a zone change to allow for greater density, such as is written in Jersey City’s R-3 zoning.