Current Use by Public Records
- Mixed-use properties
Property Details for 253 Main St
- Property type
- Mixed-use properties
Description
This exceptional mixed-use property in West Orange, NJ, presents a compelling redevelopment opportunity. The 15,106 square foot site comprises three buildings situated on a prominent corner lot on Main Street. Currently, the property includes a fully occupied building housing three commercial tenants and four residential units. Two additional buildings, a 30-room hotel/rooming house and a two-unit mixed-use structure, are vacant and approved for redevelopment. Plans allow for the creation of 15 new residential units and 2,500 square feet of retail space. The property also boasts a substantial 4,500 square foot parking lot, a significant asset in this location. The existing commercial tenants will remain in place during the redevelopment phase. This prime location offers excellent visibility and convenient access to public transportation, including NJ Transit bus stops, train stations, and major highways such as the Garden State Parkway and Route 280. The asking price is $2,700,000. The property is currently 50% occupied. This is an ideal investment for developers seeking a high-potential project in a thriving New Jersey community.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Orange
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2322
- Latitude
- 40.7863
