242 Washington AveNutley, NJ 07110

  • Commercial real estate
  • 0.46 AC
For Lease
$28.97/SF/YR View listing

Property Details for 242 Washington Ave

Year built
1971
Lot size
0.46 AC
Zone code
B-4
Property type
Commercial real estate
APN
16 06700-0000-00007
APU
1606700000000007

Description

This exceptional 1200-square-foot office space is situated at 242 Washington Avenue in Nutley, New Jersey, zip code 07110. The property, a Class C building constructed in 1971, benefits from a highly visible location on Washington Avenue, near Routes 21 and 3, ensuring excellent accessibility and high traffic exposure. The space is currently configured for multiple tenants and is categorized as both medical and traditional office space, making it suitable for a variety of professional uses. The building features a total of 30 parking spaces, providing ample parking for tenants and clients. Located in the basement, this suite includes all utilities in the lease rate. Shared amenities include a waiting area and restrooms. The property is zoned B-4 and is part of the Nutley submarket within Essex County. The diverse tenant mix currently includes an attorney, dentist, podiatrist, and title company, creating a thriving professional community. This presents a unique opportunity to establish a presence in a well-established and convenient location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $3,784,404
    Hospitality
    $3,466,494
    Educational
    $2,884,082
    Medical
    $2,983,270
    Retail
    $4,486,350

Location Insight

City
Nutley
County
Essex
State
New Jersey
Latitude
40.8139
Longitude
-74.1439
CBSA code
35620
CBSA name
NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$55,178
$753,500
$873,000
$1,626,500
-
$753,500
$873,000
$1,626,500

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