1062 Magnolia Ave new Save Request In-Person Tour Request Virtual Tour
Elizabeth City,NJ 07201
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 22,000 sqft
Price per Sqft $204
MLS Listing ID 3942674
Year Built 1920
Annual Tax Amount $68,567
Tax Year 2024
Lot Size 0.760 Acres
Property Description
Discover a prime investment opportunity with this industrial property located on Magnolia Ave in Elizabeth, NJ. Spanning 22,000 square feet and situated on nearly an acre of land, this vacant building is offered at $4,500,000. The property is equipped with three 20-foot-high loading docks and two additional garages, ensuring excellent logistics and storage functionality for a variety of industrial uses.Adding to its appeal, the property includes two parking lots currently generating $10,500 per month in rental income on a month-to-month basis, offering immediate cash flow potential. Its strategic location near Newark Liberty International Airport and the Elizabeth Port Authority further enhances its value, making it an ideal choice for businesses reliant on transportation and shipping.Zoned C2, this property offers flexible use opportunities. Buyers are encouraged to consult with the local municipality to explore permitted uses and maximize the property's potential. Don't miss this chance to invest in a high-growth, sought-after area. .Possibility to build an apartment complex. However, not approved by the town and the sale it's not contingent on being that being approved.
Location
State NJ
County Union
Zoning Industrial
Interior
Heating Gas-Natural
Cooling No Cool
Flooring Concrete
Equipment Restrooms - Private
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block
Utilities Available All Underground, Gas In Street
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple