645 Magnolia Ave Elizabeth, NJ 07206-1407

This exceptional commercial property, located at 645 Magnolia Ave, Elizabeth City, NJ 07206-1407, presents a unique investment opportunity. The 5,600 square foot lot features a thriving restaurant with a seating capacity of 75 patrons. All appliances, fixtures, furniture, and refrigeration units are included in the sale price of $600,000. Adding to the property's value are two fully renovated, two-bedroom apartments situated on Trumbull Street. These apartments underwent a complete renovation in 2006. The property benefits from its strategic corner location at the intersection of Magnolia Avenue and Trumbull Street, in a rapidly developing area of Elizabeth City. This mixed-use building offers a blend of established commercial income and residential rental potential. The property's prime location and existing infrastructure make it an ideal investment for both seasoned and aspiring entrepreneurs. This is a turnkey operation, ready for immediate occupancy and income generation. The property is classified as Special Purpose Land and is zoned for commercial use. This presents a rare opportunity to acquire a well-established business with significant upside potential in a vibrant and growing community. The property's size and configuration offer flexibility for future expansion or redevelopment, aligning with the ongoing revitalization of the surrounding neighborhood.