20-22 Lock St Newark, NJ 07103
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 20-22 Lock St
- Property type
- Commercial real estate
Description
This exceptional 5,200 square foot residential land parcel, located at 20-22 Lock Street in Newark, New Jersey (zip code 07103), presents a compelling development opportunity. Situated within the Broad Street Redevelopment Zone in University Heights, this property offers significant potential. The lot is zoned to allow for the construction of 16 to 20 residential units as of right, making it particularly attractive for developers seeking to capitalize on the high demand for student housing in the area. No approvals are currently in place, providing the buyer with complete control over the project's design and execution. The property's location in Essex County, New Jersey, offers easy access to local amenities and transportation networks. This is a rare chance to acquire a sizable, well-located lot in a thriving urban neighborhood with a clear path to high-density residential development. The asking price for this exceptional development opportunity is $795,000. The property's coordinates are 40.7454313884263 latitude and -74.17941371659006 longitude.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.17941371659
- Latitude
- 40.745431388426
