1030 South Ave W - Office/Residential FOR SALE


Westfield, NJ 07090
$1,999,000 USD
973-796-6156
1030 South Ave W, Westfield, NJ for Sale
$1,999,000 USD
Office/Residential - FOR SALE
1/64
null | 6.5% Cap Rate

1030 South Ave W
Westfield, NJ 07090


OVERVIEW

Exceptional investment with owner occupancy opportunity! First time on market ever! This well-maintained mixed-use building in prime Westfield location offers strong income potential with both residential and commercial tenants. All leases are up for renewal except one commercial unit lease ends Feb 2028. The building features two commercial /storefront units, two 2-bedroom apartments and a 3-bedroom penthouse apartment currently all rented well below market value. Units include premium features such as hardwood floors, modern open floor plans, Gym in building, Central AC, Laundry in-unit, handicap accessibility, elevator, dedicated parking. Bus to NYC stops in front of building. Located within walking distance to schools, NJ Transit & shops. In addition to being closely located to Westfield downtown, the property is in close proximity to the downtown areas of Fanwood and Scotch Plains as well. Easy access to the Garden State Parkway and just a 25-minute drive to Newark Liberty International Airport. Also unique opportunity for owner occupancy! Property website link with additional finacial info & docs available, see link on bottom of this page. Agent Remarks: 1A- comm lease month to month,1B- comm 2-year lease ends Feb 2028, 2A- apartm lease ends April 2026, 2B - apartm vacant at closing, 3rd floor apartment vacant at closing. Before scheduling appointments, MUST provide Proof of Funds (POF) or a pre-approval letter.

FOR SALE DETAILS

PRICE

$1,999,000 USD

PRICE/SF

$219 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olympus Court

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

Commercial

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Pamela SmithElite Realtors of New JerseyMore Info
973-796-6156

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Pamela SmithElite Realtors of New JerseyMore Info
973-796-6156

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.