820 Bloomfield AveVerona, NJ 07044

This exceptional 2,997 square foot commercial property, located at 820 Bloomfield Avenue in Verona, NJ, presents a compelling investment opportunity. Situated on a 0.28-acre lot, the property currently operates as a blend of apartment and retail/office space. The existing structure offers seven on-site parking spaces, supplemented by ample street parking. A key advantage is the property's mixed-use zoning, allowing for diverse development possibilities. While currently configured for a smaller-scale use, the site holds significant potential for redevelopment, particularly as a multi-family residential project. Preliminary assessments suggest the feasibility of constructing a 4-6 unit multi-family building. However, securing a zoning variance may be required to fully realize this potential. The property's strategic location benefits from high visibility and significant traffic volume, with approximately 15,000 cars passing daily. Further enhancing its appeal is the construction of a new 100-unit apartment complex directly across the street, indicating strong market demand and future growth in the immediate vicinity. This presents a unique chance to capitalize on a thriving area and create a valuable asset. The asking price is $950,000. Serious inquiries are encouraged.