8 Newton Ave Sussex, NJ 07461-2312

Property Details for 8 Newton Ave

Construction

TYPE NOT SPECIFIED

Lot size

0.04 lot acres

Property size

2,832 SF

Zone code

C-1

Property type

Commercial real estate

APN

21 00701- 01-00007

APU

21007010100007

Description

This exceptional three-story mixed-use building in downtown Sussex, NJ, presents a compelling investment opportunity. The property boasts approximately 3,000 square feet on a 0.04-acre lot and features a ground-floor commercial storefront currently under lease, following recent renovations. The upper two floors each house a two-bedroom apartment, also recently renovated. The second-floor unit includes a living room, kitchen, and full bathroom, while the third-floor unit offers similar amenities with a new kitchen. Both apartments are heated electrically, while the commercial space utilizes oil heat. Public water and sewer services are available, with individual water meters for each unit, although the current owner covers these utilities. The building's prime location in a growing Sussex, NJ, offers easy access to major routes and shopping centers. This property offers a solid return on investment with significant potential for future growth, making it an attractive option for both seasoned and new investors seeking a blend of commercial and residential income streams. The existing lease on the commercial space provides immediate cash flow, while the well-maintained apartments ensure consistent rental income. This is a turnkey opportunity to acquire a profitable and well-located property in a thriving community.