250 Park Ave Scotch Plains, NJ 07076-1057
- Commercial real estate
- 5.55 lot acres
Current Use by Public Records
- Lidl / Grocery Store
- Pantagis Renaissance / Wedding Venue
Property Details for 250 Park Ave
- Year built
- 1982
- Construction
- BRICK
- Lot size
- 5.55 lot acres
- Zone code
- B-2
- Property type
- Commercial real estate
- APN
- 16 00803-0000-00001
- APU
- 1600803000000001
Description
This exceptional 6,000 square foot retail pad site at 250 Park Avenue in Scotch Plains, New Jersey, presents a unique redevelopment opportunity. Located on Route 22, a primary retail corridor in the Watchung/Scotch Plains trade area, this single-tenant property enjoys unparalleled visibility and accessibility. The site benefits from exceptional traffic counts exceeding 52,000 vehicles daily on Route 22 and approximately 25,000 vehicles daily on Park Avenue, providing significant exposure to both local and regional traffic. Its strategic location offers convenient access to I-78 and downtown Scotch Plains, enhancing its appeal to a wide range of businesses. This is one of the last remaining development sites available on Route 22 in this highly sought-after area, making it a truly rare opportunity to secure a prominent retail location in the bustling Watchung/Scotch Plains market. The property is situated in Union County, New Jersey, with a zip code of 07076. The property is currently vacant, offering complete flexibility for future development or tenant improvements. This prime location and high traffic volume make this property an ideal investment for businesses seeking maximum visibility and accessibility.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $11,285,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $9,660,000
- 6.5%
- $8,980,000
- 7%
- $8,580,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $7,945,000
- Geo Method
- $7,745,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $9,520,000
- Retail
- $7,965,000
- Mixed-Use
- $7,455,000
- Hospitality
- $9,410,000
- Educational
- $8,800,000
- Residential Income
- $8,825,000
- Energy
- $8,925,000
- Income-Based Land
- $9,240,000
- Food Service
- $8,650,000
Location Insight
- Map
- Local Demand
- City
- Scotch Plains
- County
- Union
- State
- New Jersey
- Longitude
- -74.4027
- Latitude
- 40.6524
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
