820 Bloomfield AveVerona, NJ 07044

Property Details for 820 Bloomfield Ave

Year built

1870

Lot size

0.28 AC

Property size (Sq ft)

2,997 SF

Zone code

C2

Property type

Commercial real estate

APN

20 01603-0000-00001

APU

2001603000000001

Description

This exceptional 2,997 square foot commercial property, located at 820 Bloomfield Avenue in Verona, NJ, presents a compelling investment opportunity. Situated on a 0.28-acre lot, the property currently operates as a blend of apartment and retail/office space. The existing structure offers seven on-site parking spaces, supplemented by ample street parking. A key advantage is the property's mixed-use zoning, allowing for diverse development possibilities. While currently configured for a smaller-scale use, the site holds significant potential for redevelopment, particularly as a multi-family residential project. Preliminary assessments suggest the feasibility of constructing a 4-6 unit multi-family building. However, securing a zoning variance may be required to fully realize this potential. The property's strategic location benefits from high visibility and significant traffic volume, with approximately 15,000 cars passing daily. Further enhancing its appeal is the construction of a new 100-unit apartment complex directly across the street, indicating strong market demand and future growth in the immediate vicinity. This presents a unique chance to capitalize on a thriving area and create a valuable asset. The asking price is $950,000. Serious inquiries are encouraged.

Location Insight

City

Verona

County

Essex

State

New Jersey

Latitude

40.8346

Longitude

-74.2543

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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