12 Ampere PkwyEast Orange, NJ 07017

Property Details for 12 Ampere Pkwy

Year built

1929

Construction

WOOD

Lot size

0.10 AC

Property size (Sq ft)

12,342 SF

Property type

Commercial real estate

APN

05 00097-0000-00003

APU

500097000000003

Description

This exceptional value-add investment opportunity presents a three-story, mixed-use building situated on a 0.099-acre lot in the desirable Ampere neighborhood of East Orange, New Jersey. The 20,000 square-foot property boasts a 100% occupancy rate, generating a pro-forma NOI of $308,097 and a pro-forma cap rate of 10.62%. The building comprises 21 units: 17 one-bedroom apartments, 2 studios, and two ground-floor retail spaces currently occupied by "His & Hers Hair Boutique" and "K&E Mini Market." Two income-producing billboards further enhance the property's revenue stream. The asking price is $2,900,000, translating to $138,095.24 per unit. Located at 12 Ampere Parkway, 07017, this property is zoned Gateway Commercial (C-1) and offers significant upside potential due to below-market apartment rents and flexible lease terms. The building's total square footage is estimated between 19,000 and 21,000 square feet. This is a rare chance to acquire a well-located, income-producing asset in a thriving East Orange community. The property's strong cash flow and value-add potential make it an attractive investment for discerning buyers.

Location Insight

City

East Orange

County

Essex

State

New Jersey

Latitude

40.767

Longitude

-74.1939

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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