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57 Washington St 4,100 SF 100% Leased Office Building East Orange, NJ 07017 $1,300,000 ($317.07/SF)



Investment Highlights
- At a very busy intersection in the mix of both residential and commercial properties
- Historical masonry, exposed original wood beams and original wood trim throughout the property
- Within walking distance of downtown East Orange, train station, shopping, and buses
Executive Summary
Accessible by Public Transportation: The property is well-connected to public transit, with NJ Transit bus and train stations just minutes away. Ideal for businesses that rely on foot traffic or customers who rely on public transportation. Growing Neighborhood: Located in a community-oriented, residential neighborhood that is currently experiencing revitalization. This offers the opportunity for businesses to become a cornerstone of a growing area. It's an excellent spot for service-based businesses like cafes, small retail, or office space. Versatile Commercial Zoning: The property is zoned for commercial use, offering flexibility for a variety of business types, including retail, office, or light industrial. The zoning may also allow for mixed-use development, which could add value if you're considering expanding into residential units or combining business and living space. Potential for Growth: With ongoing community events such as farmers markets and parades, the neighborhood is becoming increasingly popular. This could lead to a growing demand for local businesses, offering excellent opportunities for long-term growth and customer retention. Competitive Rental Rates: Compared to neighboring cities like Newark and Montclair, East Orange offers competitive commercial rental rates, which could be attractive to startups and small businesses looking to minimize overhead costs. Prime Location with High Visibility: Situated on Washington Street.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
4,100 SF
Building Class
B
Year Built
1910
Price
$1,300,000
Price Per SF
$317.07
Percent Leased
100%
Building Height
3 Stories
Typical Floor Size
1,367 SF
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Very walkable
80/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 05-00804-0000-00009 | Improvements Assessment | $268,000 |
| Land Assessment | $238,800 | Total Assessment | $506,800 |
Property Taxes
Parcel Number
05-00804-0000-00009
Land Assessment
$238,800
Improvements Assessment
$268,000
Total Assessment
$506,800
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57 Washington St
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