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    North Ave Cranford, NJ 07016

    For Sale
    $1,350,000

    Historic building, prime Cranford location. High rental potential.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional mixed-use property presents a unique investment opportunity in the desirable town of Cranford, New Jersey. Situated directly across from the Cranford Train Station and nestled amongst thriving restaurants and retail establishments, this historically designated building offers unparalleled convenience and visibility. The first floor currently features retail space, previously occupied by a barber shop and soon to house a bubble tea shop, ensuring immediate income generation. Above the retail space are two generously sized apartments, providing additional rental income streams. A finished basement, accessible both internally and via a separate entrance, offers versatile potential as office space or storage, further enhancing the property's functionality and value. The 0.04-acre lot provides ample space for the building and its operations. The property's prime location, combined with its diverse income-generating components and the potential for further development or expansion of the basement space, makes this an attractive investment for discerning buyers seeking a strong return on investment in a highly sought-after New Jersey community. The building's historical designation adds a unique character and potential for future appreciation. This is a rare opportunity to acquire a well-positioned, income-producing property in a vibrant and growing town. The asking price is $1,350,000.

    Property Features for North Ave

    General Information

    Property type
    Other commercial real estate
    Lot Size
    1,742 SF

    Building Details

    Year Built
    1912
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Cranford
    County
    Union
    State
    New Jersey
    Longitude
    -74.3049
    Latitude
    40.65574

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    FAQs

    What type of property is this?
    Commercial real estate - Historic building, prime Cranford location. High rental potential.
    Where is this commercial real estate located?
    The property is located at North Ave Cranford, NJ.
    What is the asking price?
    The asking price for this property is $1,350,000.
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    North Ave Cranford, NJ 07016
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    North Ave Cranford, NJ 07016
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