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649-659 Clinton Ave
Newark, NJ 07108
Retail Property For Sale
Investment Highlights
- Heavy Traffic, Redevelopment Opportunity, Huge Lot, parking.
Executive Summary
Attention Developers!! This exceptional commercial asset presents a rare opportunity to acquire a fully vacant property comprised of 8 retail units and a full-length expansive office space, offering unmatched flexibility for a variety of uses. Positioned on an oversized 140’ x 105’ lot, the property provides significant scale and redevelopment potential. The asset is located within the C-2 Commercial Zone and Census Tract 41 Opportunity Zone, presenting a compelling opportunity for investors to leverage potential tax benefits while executing a value-add or ground-up strategy. With residential development potential as stated in the C-2 Zoning ordinance, this offering is ideally suited for developers and investors seeking to maximize long-term value.
Property Facts Under Contract
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
17,600 SF
Building Class
C
Year Built
1930
Price
$989,000
Price Per SF
$56.19
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.26
Lot Size
0.32 AC
Opportunity Zone
Yes
Zoning
C-2 - Located in the C-2 Community Commercial Zone.
Frontage
9’ on Clinton Ave
Amenities
- 24 Hour Access
- Bus Line
- Corner Lot
- Signage
Property Taxes
| Parcel Number | 14-03006-0000-00030 | Improvements Assessment | $470,500 |
| Land Assessment | $29,500 | Total Assessment | $500,000 |
Property Taxes
Parcel Number
14-03006-0000-00030
Land Assessment
$29,500
Improvements Assessment
$470,500
Total Assessment
$500,000
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