260 Scott Ave Rahway, NJ 07065
- Commercial real estate
- 1,506 SF
- 0.41 lot acres
Current Use by Public Records
- Clean Dreams Car Wash LLC / Car Detailing Service / Car Wash
- Quality Luxury Cars NJ LLC / Used Car Dealer
- Apple Tire & Auto Care / Car Repair And Maintenance Service / Auto Repair Shop
Property Details for 260 Scott Ave
- Year built
- 1957
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.41 lot acres
- Property size
- 1,506 SF
- Property type
- Commercial real estate
- APN
- 13 00225-0000-00008- 03
- APU
- 130022500000000803
Description
This exceptional Rahway, NJ commercial property presents a unique investment opportunity. Spanning 0.4 acres at 260 W Scott Ave, Unit 0, this multi-tenant building houses a thriving, turnkey mechanic shop complete with lifts and an established client base, ready for immediate operation by a new owner. Two additional tenants, a car wash and an auto dealership, occupy the remaining space under existing leases, providing a consistent rental income stream. The mechanic shop's financials are available upon request, offering transparency and supporting the property's strong financial performance. The property is zoned B1 (Neighborhood Business), a prime location for commercial ventures, fostering strong community engagement and potential for future expansion. Previous plans for condo development on this site highlight the area's growth potential and desirability. This property offers the new owner flexibility: continue operating the successful mechanic shop, lease it out for passive income, or explore future development options. The combination of established businesses and high-growth potential makes this a truly compelling investment opportunity in a thriving commercial area. The property is offered at $2,200,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,355,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,550,000
- 6.5%
- $1,385,000
- 7%
- $1,390,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,605,000
- Geo Method
- $1,430,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,470,000
- Retail
- $1,275,000
- Mixed-Use
- $1,490,000
- Hospitality
- $1,435,000
- Educational
- $1,570,000
- Residential Income
- $1,280,000
- Energy
- $1,550,000
- Income-Based Land
- $1,355,000
- Food Service
- $1,395,000
Location Insight
- Map
- Local Demand
- City
- Rahway
- County
- Union
- State
- New Jersey
- Longitude
- -74.2729
- Latitude
- 40.6156
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
