32
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$1,675,000
Est. payment /mo
3,800 SqFt
New
1508 Front St Scotch Plains Twp., NJ 07076
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,800 sqft
Price per Sqft $440
MLS Listing ID 3989241
Property Description
This property was previously used as a construction and overhead garage company for many years. The lot behind the main building is approximately 70' x 140'. In addition, there is a second building on the property facing 111 Terrill Road, currently leased to Rita's Ice and Subway, providing steady rental income. The Front Street building offers approximately 1,200 sq. ft. of office space, along with a 600 sq. ft. garage ideal for running your own business while benefiting from two existing income-producing tenants to help offset the mortgage. The property is zoned B-2, and the owner may assist in pursuing a variance for alternative uses if desired. Located in an X Flood Zone, no flood insurance is required. The vacant lot behind the building offers potential rental income if leased to a business needing space to store trucks, cars, buses, or limousines. This use would require a variance from the town. If approved, the lot could generate an estimated $5,000 per month in additional income. The owner may be willing to contribute toward the cost of obtaining such a variance, depending on the variance. Potential cap rate of 10%
Location
State NJ
County Union
Zoning B-2
Interior
Heating Gas-Natural
Cooling 3 Units
Heat Source Gas-Natural
Exterior
Parking Features Attached Garage
Utilities Available Electric, Gas-Natural
Building
Sewer Public Sewer
Water Public Water
Others
Ownership See Remarks
Acceptable Financing Cash, Lease Option, Lease Purchase
Listing Terms Cash, Lease Option, Lease Purchase
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Listed by ERA SUBURB REALTY
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