1118 Main St Rahway, NJ 07065

Property Details for 1118 Main St

Year built

1950

Construction

CONCRETE BLOCKS

Lot size

0.34 lot acres

Property size

1,200 SF

Property type

Commercial real estate

APN

13 00308-0000-00001

APU

1300308000000001

Description

This exceptional investment opportunity presents a 13,062 square foot commercial land parcel in Rahway, New Jersey, located at 1118 Main St, 07065, within the city's Redevelopment zone. The property boasts a 1,200 square foot building currently housing a fully operational, cash-flowing auto-related business (car rental or auto repair, equipment included). The asking price is $3,500,000, representing a land value of $38 per square foot. The property features a strong pro-forma NOI of $500,000 and a compelling 14% pro-forma cap rate. Built in 1950, the building is currently at 100% occupancy with an established tenant. Zoned CBD RA R-2, this well-maintained property offers significant potential for future development or continued operation as a successful business. All environmental reports are clean and up-to-date, ensuring a smooth transition for the new owner. This prime Rahway location provides convenient access to local amenities and presents an attractive opportunity for special purpose or other investors seeking a strong rental history and immediate cash flow. The property's location in the Redevelopment zone suggests potential for future growth and increased value.