For Sale
$2,000,000

168 Maplewood AveMaplewood, NJ 07040

Six-unit building, high occupancy, value-add potential.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional mixed-use property at 168 Maplewood Avenue in Maplewood, New Jersey, presents a compelling investment opportunity. The 5,003 square foot building sits on an 8,409 square foot lot and is zoned RB - Retail Business. The property features six units, currently at 100% occupancy, comprising three one-bedroom, one-bathroom apartments situated above a ground floor commercial space currently occupied by a retail store, gym, and restaurant. The asking price is $2,000,000, translating to $399.76 per square foot and $333,333.33 per unit. The building is a two-story structure offering significant value-add potential due to below-market rents and month-to-month retail leases. Its prime location in downtown Maplewood offers unparalleled convenience, being a mere two-minute walk from the train station providing direct access to Manhattan. This unique opportunity in Maplewood Village combines residential and commercial income streams in a highly desirable area. The property's strong occupancy rate and redevelopment potential make it an attractive investment for discerning buyers seeking a blend of immediate income and long-term growth.

Highlights

  • Below-market rental rates provide immediate value-add opportunity.
  • Significant redevelopment potential exists.
  • Conveniently located, a two-minute walk from the train station.
  • Exceptional investment opportunity in the desirable Maplewood Village.

Property Details for 168 Maplewood Ave

Property type
Mixed-use properties
Square Feet
5,003 SF
Buildings
1
Stories
2
Units
6

Location Insight

City
Maplewood
County
Essex
State
New Jersey
Latitude
40.7307556
Longitude
-74.2775584
168 Maplewood Ave, Maplewood, New Jersey

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168 Maplewood Ave
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