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Property profile

1011 2nd St Plainfield, NJ 07062

Commercial real estate
Property ID
US59-2786490
View Sample
1,044 SF 0.03 ac lot Built 1925
Individually Owned 5-yr Hold Free & Clear

Property summary

AI-generated overview

This exceptional investment opportunity presents a unique property located at 1011 E 2nd Street, Plainfield, New Jersey. Priced at $450,000, this "Other" property type offers significant potential for a savvy investor. While the square footage is not currently specified, the property sits on a lot of zero acres, suggesting a compact footprint ideal for various uses. The address, 1011 E 2nd Street, places it within Plainfield, a vibrant and growing community in New Jersey. This presents a chance to acquire a property in a desirable location with the potential for substantial returns. The lack of specified square footage necessitates a thorough on-site inspection to determine the exact dimensions and layout of the building. Further investigation into zoning regulations and permitted uses is strongly recommended to fully assess the property's potential. Given the price point and the unique nature of the property type, this represents a compelling opportunity for those seeking a potentially high-yield investment in a well-situated location. Serious inquiries are encouraged to schedule a viewing and conduct due diligence to fully understand the property's capabilities and potential for development or redevelopment. The absence of detailed property information underscores the need for a comprehensive assessment before making an offer.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1925
Construction CONCRETE BLOCKS
Total area 1,044 SF
Lot 0.03 ac (1,449 SF)
Zoning code NC
APN 12 00332-0000-00019
UPID US59-2786490

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Church
  • Restaurant

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$115k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$100k

Owner & transaction history

since 2021
Last sale
$80,000
4 recorded transactions
2021
$80,000
2015
Price N/A
2014
Price N/A
2007
$50,000

Zoning & alternative use

NC · Plainfield, NJ
Zoning description

NC: Neighborhood Commercial Zone District. [MC 2002-29 § 17:9-12, December 2, 2002] A. Purpose. This zone is intended to include commercial areas that serve the specific surrounding neighborhoods. The scale and intensity…

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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