279 Glenwood Avenue, Bloomfield, NJ Re-Development Opportunity | Mixed-Use Potential Asking Price: $1,045,000 Property Overview Prime re-development opportunity in the heart of Bloomfield, located at 279 Glenwood Avenue. The current property offers approximately 4000 SF of total space with proposed (not yet approved) plans for a 23,835SF, 15-unit residential development and 2 commercial units, making it an attractive repositioning play for investors and developers. Current Income & Rent Roll The property is currently partially leased, generating income through three existing tenants: • Tenant 1: $825/month • Tenant 2: $850/month • Detached Garage: $1,200/month Zoning & Permitted Uses The site is situated in the BCRD-II (Bloomfield Center Re-development Plan) zoning district with a wide range of approved commercial uses, including: • Multi-Family • Restaurants & Cafes • Art Galleries • Schools & Educational Institutions • Houses of Worship • Indoor Recreation Facilities • Office Space (restricted to upper floors) Investment Highlights • Redevelopment Upside: Proposed plans for 15 residential and 2 commercial units (not approved). • Income in Place: Existing tenants provide interim cash flow. • Versatile Zoning: Broad range of approved commercial uses supports multiple exit strategies. • Desirable Location: Positioned in Bloomfield, an area seeing steady residential and commercial growth across the street from the Bloomfield Train Station, anchor grocery store, parking decks, restaurants and other strong community amenities.