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622-628 Central Ave 9,039 SF 36% Leased Office Building East Orange, NJ 07018 $2,200,000 ($243.39/SF)
Executive Summary
Presenting an amazing opportunity in the redevelopment zone on major thoroughfare in the City of East Orange.
622-628 Central Ave (Block 712, Lot 2). Renovate existing buildings or build new! Based on the Transit Village Area-Redevelopment Plan- (Use&Bulk Requirements for Central Ave. Commercial, CAC Zoned CAE/CAC. Proposed ideal for redevelopment to obtain 32 residential units and ground floor 4 commercial units. Building height/stories: 5 stories/65 feet. Survey in documents.
622-628 Central Ave (Block 712, Lot 2). Renovate existing buildings or build new! Based on the Transit Village Area-Redevelopment Plan- (Use&Bulk Requirements for Central Ave. Commercial, CAC Zoned CAE/CAC. Proposed ideal for redevelopment to obtain 32 residential units and ground floor 4 commercial units. Building height/stories: 5 stories/65 feet. Survey in documents.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Office
Building Size
9,039 SF
Building Class
C
Year Built
1900
Price
$2,200,000
Price Per SF
$243.39
Percent Leased
36%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,520 SF
Slab To Slab
10’
Building FAR
1.09
Lot Size
0.19 AC
Opportunity Zone
Yes
Zoning
CAC - Commercial corridor for redevelopment zone
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Exceptionally walkable
90/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 05-00712-0000-00002 | Improvements Assessment | $1,446,100 |
| Land Assessment | $234,500 | Total Assessment | $1,680,600 |
Property Taxes
Parcel Number
05-00712-0000-00002
Land Assessment
$234,500
Improvements Assessment
$1,446,100
Total Assessment
$1,680,600
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622-628 Central Ave