168 Maplewood AveMaplewood, NJ 07040

Property Details for 168 Maplewood Ave

Year built

1924

Construction

CONCRETE BLOCKS

Lot size

0.18 AC

Property size (Sq ft)

5,003 SF

Zone code

RB

Property type

Other commercial real estate

APN

11 00013- 09-00187

APU

11000130900187

Description

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.

• Alternative Use

  Use

  Valuation

  Residential

  $946,763

  Hospitality

  $867,230

  Educational

  $721,525

  Medical

  $746,340

  Retail

  $1,122,373

Location Insight

City

Maplewood

County

Essex

State

New Jersey

Latitude

40.7306

Longitude

-74.2775

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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