9 Madison Ave - Specialty FOR SALE


Newark, NJ 07108- South Broad Street
$1,299,000 USD
201-873-8154
9 Madison Ave, Newark, NJ for Sale
$1,299,000 USD
Specialty - FOR SALE
1/4
null | Request Cap Rate

9 Madison Ave
Newark, NJ 07108
South Broad Street


OVERVIEW

Nestled at the corner of Madison Avenue and Irvine Turner Boulevard, 9 Madison stands as a distinguished and historic landmark. This grand corner property, approved for a three-family dwelling, offers immense potential for the discerning investor. Currently operating as a "Class I shelter" with authorization for 27 occupants or more, the sale exclusively includes the building itself—ensuring a seamless transition for buyers interested in preserving its existing use. With pre-approved zoning for shelter operations, no additional zoning approvals are required. This expansive structure boasts an impressive 15 bedrooms, three spacious living areas, four full bathrooms, and two half baths, providing ample space for various residential or institutional applications. Modernized heating systems ensure comfort throughout, while on-site parking accommodates up to four vehicles. Additionally, ownership includes a comprehensive suite of covered expenses: all utilities, hot and cold water, insurance, electricity, maintenance, garbage removal, heating, and taxes—streamlining operational costs for the next owner. A rare blend of historic charm, versatility, and investment opportunity, 9 Madison is primed for its next chapter.

FOR SALE DETAILS

PRICE

$1,299,000 USD

PRICE/SF

$325 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

9 Madison ave

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

-

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,750 SF

ZONING

-

APN/PARCEL ID

14-02666-0000-00034

ASK ABOUT THIS PROPERTY

Wafa JabadoColdwell Banker Residential BrokerageMore Info
201-873-8154

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Wafa JabadoColdwell Banker Residential BrokerageMore Info
201-873-8154

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