9 Passaic Ave Kearny, NJ 07032

This exceptional redevelopment opportunity presents a 0.24-acre mixed-use property located at 9 Passaic Ave, Kearny, NJ 07032. The property encompasses approximately 4,300 square feet of net rentable space currently housing three tenants (a flower shop, a fish market, and a three-car garage) on month-to-month leases. The building, classified as Class C, offers significant potential for value enhancement. The property boasts a strong 9.00% cap rate and pro-forma cap rate, making it an attractive investment prospect. Situated in a vibrant area, the property benefits from excellent access to major transportation arteries, including Interstate 280, the New Jersey Turnpike (I-95), Route 21, and Route 7, providing seamless connectivity to Newark, New York City, and beyond. Annual property taxes are $12,418. The site's zoning ordinances are available upon request. This is a rare chance to acquire a well-located, income-producing asset with substantial upside potential in a rapidly developing area. The property's current configuration includes on-site parking. The total building size is approximately 4,500 square feet, with a potential range of 3,000 to 6,000 square feet for redevelopment. The property consists of a single-story building divided into three units. This presents a unique opportunity for investors seeking a high-return, mixed-use investment in a strategic location.