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45 Tichenor St

Newark City, NJ 07102
  • $1,800,000
  • STATUS: Active
  • ON SITE: 19 Days
  • MLS #: 3789759
Price Reduced
UPDATED: 48 min ago
$1,800,000
  • 0
    BEDS
  • 0.29
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Vacant Land / Lots
County:
Area:

School Ratings & Info

Description

The offering at 45 Tichenor Street offers a truly unique opportunity for development in South IronBound. The lot measures approximately 12,000 square feet, zoned R4 - allowing for low-rise multifamily development up to 4 stories high, as-of-right. Coupled in with this development potential is a current tenant paying $7,500/month. There is an active lease in place, but the lease does contain a cancellation clause, which a new buyer can exercise once shovels are ready. Its rare to find a development site with current cash flow that can act as a hedge to your investment. Buyers are responsible for independently verifying the maximum development potential.

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Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Michele Klug Team | Keller Williams Towne Square Realty. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Michele Klug Team | Keller Williams Towne Square Realty are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-07-06T11:47:29.013.
www.micheleklug.com/homes/129924629
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45 Tichenor St Newark City, NJ 07102

  • Price: $1,800,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 48 min ago
  • MLS #: 3789759
0
Beds
0
Baths
0
½ Baths
0.29
Acres
County:
Essex
Area:
Newark City
Property Description
The offering at 45 Tichenor Street offers a truly unique opportunity for development in South IronBound. The lot measures approximately 12,000 square feet, zoned R4 - allowing for low-rise multifamily development up to 4 stories high, as-of-right. Coupled in with this development potential is a current tenant paying $7,500/month. There is an active lease in place, but the lease does contain a cancellation clause, which a new buyer can exercise once shovels are ready. Its rare to find a development site with current cash flow that can act as a hedge to your investment. Buyers are responsible for independently verifying the maximum development potential.
Exterior Features

Approximate Lot Size 12805 SF Road Surface Description Blacktop/Asphalt Road

Property Features

Assessment Total 282800 Building Assessment 27800 Easement Unknown Fha Age Restricted Yes Land Assessment 255000 Sewer Info See Remarks Tax Amount 10746 Tax Rate Amount 3.734 Tax Rate Year 2021 Tax Year 2021 Water Info None Zoned Info Residential Multi-Family Zoning R4

Listing information © 2022 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Exp Realty, Llc.


Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Michele Klug Team | Keller Williams Towne Square Realty. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Michele Klug Team | Keller Williams Towne Square Realty are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-07-06T11:47:29.013.
 
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The Michele Klug Team | Keller Williams Towne Square Realty
222 Mt Airy Rd
Basking Ridge NJ, 07920