115 Myrtle Ave Passaic, NJ 07055-3109
This exceptional 10,000-square-foot warehouse in Passaic, New Jersey, presents a compelling investment opportunity. Located at 115 Myrtle Ave, 07055, this property sits on a 5,249-square-foot corner lot and boasts a desirable M-1 (Light Industrial) and R-3 (Residential Multi-Family) zoning designation. The two-story brick building is currently vacant, offering immediate occupancy for owner-users or a blank canvas for redevelopment. The asking price is $1,295,000, translating to $129.50 per square foot. Features include one loading dock and a prime location within an Opportunity Zone, suggesting significant potential for future appreciation. The property's versatile zoning allows for a range of uses, making it attractive to both industrial businesses and developers seeking multi-family residential projects. Its strategic location and strong infrastructure make it an ideal choice for businesses seeking a strategic presence in Passaic County. This is a rare opportunity to acquire a well-situated industrial property with substantial upside potential. The property's APN is 07-02176-0000-00019. Serious inquiries are encouraged.
No advertising signs shall be erected on any property fronting upon a street which separates it from the R-1, R-2, R-1A, R-3 or O-R Districts. (10) Advertising signs shall be limited to the number in existence at the time of the passage of this chapter and may be replaced or relocated as permitted in this article within one year after the sign is destroyed o…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
R-3 · Passaic, NJNo advertising signs shall be erected on any property fronting upon a street which separates it from the R-1, R-2, R-1A, R-3 or O-R Districts. (10) Advertising signs shall be limited to the number in existence at the time of the passage of this chapter and may be replaced or relocated as permitted in this article within one year after the sign is destroyed or removed from its original location. (11) There shall be no advertising signs in any area which has been designated and approved for redevelopment as a federal or City urban renewal area. I. Roof-top business signs. (1) Roof-top business signs shall be limited to the number in existence at the time of the passage of this chapter and may be replaced or relocated within the district within one year after the sign is destroyed or removed from its original location; except that there shall be no roof-top business signs in any area which has been designated and approved for redevelopment as a federal or City urban renewal area. (2) Roof-top business signs shall comply with the aggregate area limitations of Article X , § 317-49 . (3) Roof-top business signs shall not exceed 13 feet six inches in height measured from the roof to the top of such signs, but there shall be at least eight feet clearance from the top of the roof to the underside of such sign, and any such sign shall have also have a three-foot clearance on each side thereof, with respect to the side of the building on which said sign shall be erected, but in no case shall any sign exceed 48 feet in width. The same restriction shall apply in the case of a building situated on a corner lot. (4) Rooftop business signs shall not contain any moving parts or be illuminated by intermittent or flashing lights. (5) A rooftop sign shall not use symbols or colors which are similar in design to standard traffic control devices. J. Bowling alleys. (1) Minimum lot area: 20,000 square feet. (2) Minimum lot depth and width: 100 feet. (3) Minimum side yards: 1/3 building height, but not less than 10 feet. (4) Minimum rear yard: 1/3 building height, but not less than 10 feet. (5) Minimum building height: two stories or 30 feet. (6) Maximum coverage: 50%. K. Tennis courts, racquetball courts, squash courts, roller-skating rinks, ice-skating rinks and health spas in buildings used only for such purpose. (1) Bulk requirements shall be the same as for bowling alleys. L. Veterinary establishments. (1) Bulk requirements shall be as per the requirements of the applicable zone. (2) The use shall comply with the general standards of this article.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
