645 Magnolia AveElizabeth, NJ 07206-1407

Property Details for 645 Magnolia Ave

Property size (Sq ft)

5,600 SF

Property type

Specialty properties

Property subtype

Land

Description

This exceptional commercial property, located at 645 Magnolia Ave, Elizabeth City, NJ 07206-1407, presents a unique investment opportunity. The 5,600 square foot lot features a thriving restaurant with a seating capacity of 75 patrons. All appliances, fixtures, furniture, and refrigeration units are included in the sale price of $600,000. Adding to the property's value are two fully renovated, two-bedroom apartments situated on Trumbull Street. These apartments underwent a complete renovation in 2006. The property benefits from its strategic corner location at the intersection of Magnolia Avenue and Trumbull Street, in a rapidly developing area of Elizabeth City. This mixed-use building offers a blend of established commercial income and residential rental potential. The property's prime location and existing infrastructure make it an ideal investment for both seasoned and aspiring entrepreneurs. This is a turnkey operation, ready for immediate occupancy and income generation. The property is classified as Special Purpose Land and is zoned for commercial use. This presents a rare opportunity to acquire a well-established business with significant upside potential in a vibrant and growing community. The property's size and configuration offer flexibility for future expansion or redevelopment, aligning with the ongoing revitalization of the surrounding neighborhood.

Location Insight

City

Elizabeth

County

Union

State

New Jersey

Latitude

40.6612

Longitude

-74.194

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