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77 S Union St 77 S Union St 8,844 SF 100% Leased Retail Building Lambertville, NJ 08530 $1,500,000 ($169.61/SF)
Investment Highlights
- Freestanding retail building situated on a corner lot in a residential area, offering strong visibility and accessibility.
- Located in Lambertville, a vibrant community with nearby residential neighborhoods and convenient access to local amenities.
- Approximately 8,844 square feet of single-story space with a flexible layout suitable for various commercial uses.
- Positioned on a 0.21-acre lot with possible subdivision potential, offering future development flexibility.
Executive Summary
Prime mixed-use/investment property in the heart of downtown Lambertville on the corner of Union & Mt. Hope St, directly across from a park and steps to the Inn of the Hawk. This 8,844 SF building offers 6 separate rental units with strong income potential. Features include 5 oversized 12’ high overhead garage doors, approx. 13’ ceiling height, and separately metered gas and electric for each unit. Current tenants include a fitness studio and hair salon. Excellent walkability to Lambertville Station, shops, restaurants, and galleries. Property overlooks the Delaware & Raritan Canal and walking path, adding to its appeal. Zoned R-2 with pre-existing non-conforming commercial use (formerly restaurant), offering potential redevelopment opportunity for townhomes or condos (buyer to verify). On-street parking plus public lot across the street (approx. 18 spaces). Rare opportunity in a vibrant business district.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Building Size
8,844 SF
Building Class
B
Year Built
1980
Price
$1,500,000
Price Per SF
$169.61
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.89
Lot Size
0.23 AC
Zoning
R2 - The property is zoned R-2 (Residential District), which generally allows residential uses and may permit limited commercial activity by variance.
Frontage
Moderately walkable
60/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 17-01052-0000-00012 | Improvements Assessment | $309,200 |
| Land Assessment | $415,300 | Total Assessment | $724,500 |
Property Taxes
Parcel Number
17-01052-0000-00012
Land Assessment
$415,300
Improvements Assessment
$309,200
Total Assessment
$724,500
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77 S Union St | 77 S Union St
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