763 Irvington Ave Maplewood, NJ 07040-1607

Property Details for 763 Irvington Ave

Year built

1940

Construction

BRICK

Lot size

0.22 lot acres

Property size

5,228 SF

Zone code

NB

Property type

Commercial real estate

APN

11 00042- 03-00008

APU

11000420300008

Description

This exceptional freestanding retail building, located at 763 Irvington Avenue in Maplewood, New Jersey, presents a compelling investment opportunity. The 5,000 square foot property sits on a 0.22-acre lot and boasts 60 feet of frontage on Irvington Avenue, ensuring high visibility and accessibility. Built in 1950, the building is currently 100% occupied by a laundromat and hair salon, generating strong net operating income. The property also includes a private parking lot, a significant advantage in a high-traffic area. With a daily traffic count of 18,932 vehicles, this location offers unparalleled exposure to potential customers. The property benefits from its institutional ownership and professional management, ensuring a smooth and efficient ownership experience. Further upside potential exists through the development of partially fitted-out extra space within the building. The 2023 property taxes were $17,176. This is a rare opportunity to acquire a well-located, income-producing retail property with significant growth potential in the desirable Maplewood, Essex County market (zip code 07040). The property's strong tenant occupancy, prime location, and development potential make it an ideal investment for discerning buyers.