127 Academy St Trenton, NJ 08608
- Residential income homes
- 29,948 SF
- 0.18 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 127 Academy St
- Year built
- 2000
- Lot size
- 0.18 lot acres
- Property size
- 29,948 SF
- Zone code
- HIST
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 11 00503-0000-00010
- APU
- 1100503000000010
Description
This exceptional redevelopment opportunity presents a unique chance to acquire a substantial mixed-use portfolio in Trenton, New Jersey. The property comprises two buildings totaling 53,000 square feet, situated on a 53,000 square foot lot. The buildings, currently vacant, offer a blank canvas for a complete transformation, catering to the current market demands and long-term investment goals. The property is zoned for commercial and mixed-use development, allowing for diverse project possibilities. The existing structures are a five-story building with eight parking spaces. This investment is ideally suited for developers seeking to capitalize on the significant potential of this prime Trenton location. The property is strategically located within a designated Redevelopment Area and Opportunity Zone, providing access to substantial federal and state tax credits and funding opportunities designed to stimulate redevelopment in urban communities. This program allows investors to defer federal taxes on capital gains reinvested in Qualified Opportunity Funds within these designated areas, under guidelines established by the U.S. Department of the Treasury. The property is offered as a portfolio of two separate properties (127 Academy Street and 140 East Hanover Street), but can be purchased individually if desired. The asking price for the entire portfolio is $3,000,000, representing a price per square foot of $56.60. This presents a compelling investment opportunity with significant upside potential for the right developer. The property requires total renovation.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $725,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $670,000
- 6.5%
- $600,000
- 7%
- $605,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $735,000
- Geo Method
- $710,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $690,000
- Retail
- $525,000
- Mixed-Use
- $650,000
- Hospitality
- $690,000
- Educational
- $565,000
- Residential Income
- $680,000
- Energy
- $635,000
- Income-Based Land
- $575,000
- Food Service
- $725,000
Location Insight
- Map
- Local Demand
- City
- Trenton
- County
- Mercer
- State
- New Jersey
- Longitude
- -74.7629
- Latitude
- 40.2219
- CBSA code
- 45940
- CBSA name
- TRENTON-EWING, NJ METROPOLITAN STATISTICAL AREA
