115 Spring St - Apartments FOR SALE


Newton, NJ 07860
$825,000 USD
646-408-8024
115 Spring St, Newton, NJ for Sale
$825,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

115 Spring St
Newton, NJ 07860


HIGHLIGHTS

  • Vacant Brick Building - Conversion Ready
  • Architect Plans Including MEP Come with Sale, Ready to Submit for Approvals
  • Thor Labs, Newton Memorial Hospital and Sussex County Community College Nearby
  • Train Coming to Andover (One Town Over) to Connect to NYC and NJ Transit Trains
  • Lack of Inventory for Apartment Renters
  • Healthy Rents in the Area with No Rent Control

OVERVIEW

Iconic 9000 SF Newton Mural Building is available to convert to apartments with retail or offices below. Current plans reflect 7 Apartments and 2 Retail/Offices. Plans are ready to be able to submit for approvals. Plans are included in the sale. All new Anderson windows for building ALSO come with sale. Newton is development friendly, has a constantly increasing positive demographic and a real need for new apartments. Major employer, hospital and community college all nearby. A wonderful opportunity for any developers or contractors looking for a Multi Family project with upside in a thriving and upward trajectory town. Municipal Parking is behind the building, town will lease spots to property owner to enable apartments to be built. Delivered Vacant. Please contact Marc for more information.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$91 USD /SF

# OF UNITS

9

PRICE/UNIT

$91,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Apartments - Gut Reno Retro Fit Value Add Op

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1880

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,841 SF

ZONING

T-6

APN/PARCEL ID

15-00008-03-00008

ASK ABOUT THIS PROPERTY

Marc WeitzFairclough RealtorsMore Info
646-408-8024

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Marc WeitzFairclough RealtorsMore Info
646-408-8024

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