866 Orange Ave Newark, NJ 07106
- Mixed-use properties
Current Use by Public Records
- Mixed-use properties
Property Details for 866 Orange Ave
- Property type
- Mixed-use properties
- Property subtype
- Land
Description
This exceptional redevelopment opportunity presents a 5,366.3 sq ft lot in Newark, New Jersey, zoned C-2 Community. Approved plans exist for a four-story mixed-use building encompassing 15 residential units and one commercial unit on the ground floor. However, updated Newark City zoning ordinances (November 2023) now permit a significantly expanded project, allowing for 26 residential units and one commercial unit. The property is situated in Newark's West Ward at 866 S Orange Ave, 07106. A Phase I Environmental assessment is complete. The asking price is $599,000. Note that the buyer is responsible for obtaining all necessary construction plans and permits from the City of Newark to proceed with the development. This presents a unique chance to capitalize on Newark's growth and create a substantial mixed-use property. The private ownership and approved plans minimize initial hurdles, making this an attractive investment for experienced developers.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2239
- Latitude
- 40.7455
