144 Spg St, Newton, NJ 07860-2009
- Commercial real estate
- 14,176 SF
- 0.13 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 144 Spg St
- Year built
- 1880
- Construction
- FRAME
- Lot size
- 0.13 lot acres
- Zone code
- T-6
- Property type
- Commercial real estate
- APN
- 15 00008- 08-00024
- APU
- 15000080800024
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 28, 2024 | $1,250,000 | Ehr Spring Street LLC | Apostolos Sakellaropoulos | Deed | $938k · M & T Bank |
| Mar 9, 2012 | — | Apostolos Sakellaropoulos | Sakelaropoulos,apostolos | Quit Claim Deed · related | $150k · Sussex Bank |
Description
This exceptional investment opportunity presents a 40-room mixed-use hotel boasting a remarkably strong rental history and a substantial waiting list, indicating high demand and consistent occupancy. Located at 144 Spring Street in Newton, NJ, this property occupies a 0.13-acre lot and encompasses a generous 14,176 square feet. The building has recently undergone a complete renovation, ensuring modern amenities and optimal functionality. A key component of this lucrative offering is a fully operational restaurant with an existing liquor license, currently operating under a lease agreement. This adds a significant revenue stream to the hotel's already impressive cash flow. The strategic location on Spring Street, a rapidly redeveloping area of Newton, NJ, further enhances the property's long-term investment potential. The asking price of $2,700,000 reflects the property's strong income generation and is negotiable based on the terms and conditions of the sale. This presents a rare chance to acquire a turnkey, high-performing commercial property with significant upside potential in a thriving market. Financial details and lease agreements are available upon request. Serious inquiries only.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,250,000
- ML approach
- $1,250,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,004,000
- AI Estimate
- $803,000
Market price range: $1.00M - $2.39MMarket price range: $804k - $2.03M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,580,000 Current use
- INDUSTRIAL (GENERAL)
- $1,345,000 Change: -15% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Newton
- County
- Sussex
- State
- New Jersey
- Longitude
- -74.7517
- Latitude
- 41.0572
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
