397 Passaic AveLodi, NJ 07644

Property Details for 397 Passaic Ave

Year built

1915

Construction

BRICK

Lot size

0.07 AC

Property type

Commercial real estate

APN

31 00009-0000-00055

APU

3100009000000055

Description

This exceptional commercial property, located at 397 Passaic Avenue in Lodi, New Jersey, presents a unique investment opportunity. Priced at $2,000, this property offers significant potential for a variety of commercial uses. While the square footage is not currently specified, the property's location on Passaic Avenue provides excellent visibility and accessibility. The lot size is listed as zero acres, suggesting the property may be a smaller building or a portion of a larger development. The property type is classified as "Other," indicating a need for further investigation into its specific features and permitted uses. Given the price point, this property is ideal for entrepreneurs seeking an affordable entry into the Lodi commercial market or investors looking for a potentially high-return opportunity. Due diligence is recommended to determine the precise square footage, zoning regulations, and potential uses for this property. The absence of detailed information underscores the need for a thorough on-site inspection and review of relevant municipal records. This property is being offered as-is, and interested parties are encouraged to conduct their own independent assessments before making an offer. The low price point presents a compelling opportunity for a buyer willing to undertake the necessary due diligence. Act quickly, as this property is likely to attract significant interest.

• CAP approach

  CAP return

  Valuation

  6%

  $538,700

  6.5%

  $497,261

  7%

  $461,743

• Comparable approach

  Method

  Valuation

  Relative Method

  $375,648

  Geo Method

  $375,648

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $978,994

  Retail / Commercial

  $502,023

  Mixed-Use / Specialty

  $500,233

  Hospitality / Lodging

  $367,005

  Office

  $497,261

  Institutional / Educational

  $520,041

  Residential Income

  $608,448

  Multifamily

  $729,740

  Automotive / Energy

  $445,749

  Parking / Income-Based Land

  $153,823

  Restaurant / Food Service

  $260,175

  Healthcare / Senior Housing

  $512,980

Location Insight

City

Lodi

County

Bergen

State

New Jersey

Latitude

40.8725

Longitude

-74.0924

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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