2219 Park AVENUE
2219 Park AVENUE
2219 Park AVENUE
2219 Park AVENUE
2219 Park AVENUE
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VIEW PHOTOS
$850,000

2219 Park AVENUE

4,500 Sq.Ft.

Description

INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)

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Location

2219 Park Ave, South Plainfield, NJ 07080

Status

Pending

Property Amenities

Area & Lot
Lot Area 0.37 Acres
Living area 4,500 Sq.Ft.
MLS® ID NJMX2006058
Year Built 1970
Type Commercial
Status Pending
Exterior
Air conditioning Central Air
Heat type Forced Air, Natural Gas
Water Source Public
Sewer Public Sewer
Finance
Sales Price $850,000
Real Estate Tax $14,838 yearly

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Schedule a Showing

We would love to show you our beautiful property. Please select your preferred date and time below. An agent will be in touch shortly to confirm your appointment.

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Thank you for your interest in 2219 Park Ave, South Plainfield, NJ 07080. We are reviewing your request and will be in touch shortly!

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Work With Us

As father & son duo, we’ve been living in and working in the Mercer area for a combined 45 years – and we’re passionate about it. Let’s chat about how our expertise can help you.