275 South AveFanwood, NJ 07023
- Retail properties
- 1.07 AC
Property Details for 275 South Ave
- Year built
- 1970
- Lot size
- 1.07 AC
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity encompasses two parcels totaling 1.07 acres in the thriving downtown Fanwood, NJ, featuring a mix of retail and a fully leased United States Postal Service building. The property includes 11,874 square feet of net rentable space currently housing four tenants, with an occupancy rate of 41%. One building, totaling approximately 7,920 square feet, consists of three tenant suites, with one vacant and one tenant vacating upon closing. The second building, at 3,954 square feet, is fully occupied by the United States Postal Service. The site boasts 32 parking spaces and benefits from a highly desirable location less than 300 feet from the Fanwood Train Station. Built in 1970, this single-story property is zoned CC and presents a compelling opportunity for redevelopment, given its proximity to other newer mixed-use developments and Fanwood's current need for affordable housing units. The property's prime location offers exceptional demographics, with an average household income exceeding $172,000 within a one-mile radius and a population exceeding 294,000 within a five-mile radius. The asking price is $3,600,000.
Location Insight
- City
- Fanwood
- County
- Union
- State
- New Jersey
- Latitude
- 40.6415
- Longitude
- -74.3833
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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