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    115 Myrtle Ave Passaic, NJ 07055

    Sponsored
    For Sale
    $1,295,000

    10,000 SF Warehouse, Vacant, Opportunity Zone

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 10,000-square-foot warehouse in Passaic, New Jersey, presents a compelling investment opportunity. Located at 115 Myrtle Ave, 07055, this property sits on a 5,249-square-foot corner lot and boasts a desirable M-1 (Light Industrial) and R-3 (Residential Multi-Family) zoning designation. The two-story brick building is currently vacant, offering immediate occupancy for owner-users or a blank canvas for redevelopment. The asking price is $1,295,000, translating to $129.50 per square foot. Features include one loading dock and a prime location within an Opportunity Zone, suggesting significant potential for future appreciation. The property's versatile zoning allows for a range of uses, making it attractive to both industrial businesses and developers seeking multi-family residential projects. Its strategic location and strong infrastructure make it an ideal choice for businesses seeking a strategic presence in Passaic County. This is a rare opportunity to acquire a well-situated industrial property with substantial upside potential. The property's APN is 07-02176-0000-00019. Serious inquiries are encouraged.

    Property Features for 115 Myrtle Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    10,000 SF

    Building Details

    Buildings
    1
    Stories
    2

    HighLights

    • $1,295,000 asking price for this 10,000 square foot industrial property.
    • Vacant, 10,000 SF warehouse building on a 5,249 SF lot.
    • Ideal for owner‑occupancy or redevelopment.
    • Located in an Opportunity Zone.
    • Features one loading dock and drive‑in access.
    • Zoned M‑1 (Light Industrial) and R‑3 (Residential Multi‑Family).
    Property Profile Location Intelligence

    Current Use by Public Records

    Manufacturing properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1344791
    Latitude
    40.865337

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    FAQs

    What type of property is this?
    Distribution property - 10,000 SF Warehouse, Vacant, Opportunity Zone
    Where is this distribution property located?
    The property is located at 115 Myrtle Ave Passaic, NJ.
    What is the asking price?
    The asking price for this property is $1,295,000.
    What are key features of this property?
    This property features: $1,295,000 asking price for this 10,000 square foot industrial property.; Vacant, 10,000 SF warehouse building on a 5,249 SF lot.; Ideal for owner-occupancy or redevelopment.
    Request Owner's contact information
    115 Myrtle Ave Passaic, NJ 07055
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    Passaic, NJ 07055
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    115 Myrtle Ave Passaic, NJ 07055
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