46 Franklin St Belleville, NJ 07109
Approved mixed-use development site with 24 units and commercial space.
Lot size:
0.23 AcresProperty Features for 46 Franklin St
General Information
- Standard status
- Active
- Lot size
- 0.23 Acres
Source:
Corcoran
Listing Agent: Paula Cardenas
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Mixed-Use Development Opportunity, Approved Plans
This approved development site presents an investment opportunity for a mixed-use apartment building. The project is fully entitled for construction, featuring 24 residential units and one ground-floor commercial space. The existing structure generates a Gross Operating Income (GOI) of approximately $100,000 annually, providing income potential during pre-construction. The current building will need to be demolished for the approved project. A 5-year tax abatement is included, reducing carrying costs and enhancing ROI. This project is not designated as affordable housing, allowing for full market-rate rental opportunities. The property is located in Belleville Twp., NJ.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Mamasitas Nails Salon
Beauty Salon
Location Insight
- Map
- Local Demand
- City
- Belleville
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1783212
- Latitude
- 40.7795525
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Approved mixed-use development site with 24 units and commercial space.
Where is this mixed-use property located?
The property is located at 46 Franklin St Belleville, NJ.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: - Approved development site for a mixed-use building with 24 residential units and one commercial space.; - Income-producing property with approximately $100,000 annual Gross Operating Income (GOI) during pre-construction.; - Benefit from a 5-year tax abatement, reducing carrying costs.