524 William StEast Orange, NJ 07017

Property Details for 524 William St

Year built

1961

Lot size

0.13 AC

Property size (Sq ft)

4,200 SF

Property type

Office properties

Property subtype

Office buildings

APN

05 00544-0000-00002

APU

500544000000002

Description

This exceptional investment opportunity presents a thriving restaurant and barbershop located at 524 William St, East Orange, NJ 07017, in Essex County. The property boasts a substantial 4,700 square feet of space, currently housing two separate businesses. The asking price is $537,000, translating to $114.26 per square foot. The layout includes a large area extending across the rear of the building, offering significant potential for expansion or modification. A small driveway and garage are included, providing convenient access and parking. Currently, the rental income is below market value, presenting a clear opportunity to increase profitability. Furthermore, the property's size and location offer considerable potential for future development. This property is ideal for an investor seeking a strong return or an owner-operator looking to establish or expand their business in a vibrant location. The property's strategic position in East Orange, New Jersey, provides excellent access to a diverse customer base. This is a rare chance to acquire a well-established business with significant upside potential. The property is zoned for commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $694,385

  6.5%

  $640,971

  7%

  $595,188

• Comparable approach

  Method

  Valuation

  Relative Method

  $548,772

  Geo Method

  $548,772

• Alternative Use

  Use

  Valuation

  Residential

  $794,804

  Hospitality

  $728,036

  Educational

  $605,718

  Medical

  $626,549

  Retail

  $942,228

Location Insight

City

East Orange

County

Essex

State

New Jersey

Latitude

40.7674

Longitude

-74.2161

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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