46-48 Franklin St - Storefront Retail/Residential FOR SALE


Belleville, NJ 07109
$1,400,000 USD
973-921-1111
46-48 Franklin St, Belleville, NJ for Sale
$1,400,000 USD
Storefront Retail/Residential - FOR SALE
1/2
null | Request Cap Rate

46-48 Franklin St
Belleville, NJ 07109


OVERVIEW

Prime Development Opportunity " Mixed-Use Site with Approved Plans". An exceptional investment opportunity awaits with this approved development site in a thriving urban location. This property is fully entitled for the construction of a mixed-use apartment building, featuring 24 residential units and one ground-floor commercial space perfectly suited for today's demand for walkable, community-focused living. The current structure on the lot consists of one store front and 5 apartments and it is generating a Gross Operating Income (GOI) of approximately $100,000 annually, offering income potential during pre-construction planning. However, the building will need to be demolished to make way for the approved project. Investors and developers will benefit from a 5-year tax abatement, significantly reducing carrying costs and enhancing ROI. Importantly, this project is not designated as affordable housing, allowing for full market-rate rental opportunities. With plans in place, income-producing status, and development-ready approvals, this is a rare turnkey opportunity in a high-growth area.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$182 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1927

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

Mixed Use

APN/PARCEL ID

01-02105-0000-00015

ASK ABOUT THIS PROPERTY

Paula CardenasSignature Realty NJ LLCMore Info
973-921-1111

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Paula CardenasSignature Realty NJ LLCMore Info
973-921-1111

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