1001 Clinton Ave Irvington, NJ 07111

Property Details for 1001 Clinton Ave

Year built

1959

Property size

1,386 SF

Property type

Commercial real estate

APN

09 00210-0000-00001

APU

900210000000001

Description

This exceptional investment opportunity presents a prime commercial property located at 1001 CLINTON Avenue, Irvington, NJ 07111. The property, built in 1959 and extensively renovated in 2022, encompasses a 5,078 square foot lot on a 0.117-acre parcel. Currently operating as a used car dealership, the property boasts a strong rental income stream, generating a Net Operating Income (NOI) of $91,500, resulting in an attractive 7.62% capitalization rate. The asking price is $1,200,000. The single-unit property includes an office space and two bathrooms, with capacity for approximately 25-26 vehicles. The property is zoned and approved by the township for used car sales. This is a rare opportunity to acquire a well-established, income-producing asset in a desirable location. The property is being sold "as is," and potential buyers are responsible for conducting their own due diligence. The current tenant is operating a business on the premises, and direct contact with the tenant is discouraged. This property offers significant potential for both rental income and owner-operator use. The property's features include a gross lease structure and is a unique blend of land, special purpose, and retail uses, including a garage/parking area and gas station capabilities. This is a cash-flowing investment ready for immediate returns.

Location Insight

City

Irvington

County

Essex

State

New Jersey

Longitude

-74.2235

Latitude

40.725

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments