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2219 Park Avenue South Plainfield, NJ $ 850,000
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$ 850,000 Get more info
2219 Park Avenue
$ 850,000
Back to search
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2219 Park Avenue

South Plainfield, NJ, 07080
$ 850,000
Baths0.0 Sq 4,050

Monthly Estimate*

$ 5,649

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Studio

Commercial Property for sale in South Plainfield, NJ

for $850,000. This 4,050 square foot building was built in 1970 on a lot size of 0.37.

INVESTORS: This five-unit, mixed residential / commercial building has a cap-rate of 6.8%, bringing in a gross rent of $7,100 a month (although this can be increased if the residential units are updated and the back detached properties designation changes). The entire unit is currently rented to a barber shop for $1,775 and a waxing studio for $850. The upstairs apartments are both two bed, one baths rented for $1,525 and $1,425. In the rear is an additional detached property that is currently used as a residential unit but can be converted into a commercial space (medical is approved zoning) for $1,525. All units have their own boilers and pay for their own utilities. The properties have 21-23 parking spots and are right on the corner of a major junction, so have plenty of curbside visibility. Total gross rent is $85,200 and expenses are $26,836. Included in expenses are the following: Professionals Fees ( Fire Alarm Inspection & Monitoring)

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Commercial Pending

Price

$ 850,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 14,838

Style

Hair Salon and Spa

Lot Size

0.37

Year Built

1970

Town/City

South Plainfield

County/Region

Middlesex

MLS | Web ID

NJMX2006058
Features
Interior
Heating Fuel Natural Gas
Hot Water Natural Gas
Heating Y/N Y
Street Suffix AVENUE
Central Air Y/N Y
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General
Sewer Public Sewer
Heating Forced Air
Cooling Central A/C
Possession Immediate
Zoning OBC1
Construction Materials Block
Exclusions All commercial & residential personal property.
Year Built 1970
Property SubType Five Or More Units
Tax Year 2022
Percent Ownership Fee Simple
Cool Fuel Electric
Municipality SOUTH PLAINFIELD BORO
Gross Income 85200.00
Business Type Hair Salon and Spa
Accessibility None
County MIDDLESEX
Operating Expense 26836.00
New Construction N
Property Type Commercial Sale
Possible Use Barber/Beauty Medical/Dental
Water Access Y/N N
Status PENDING
Directions Use gps.
City SOUTH PLAINFIELD
Buyer Agent Compensation 2
Total Units 0
MLS Area South Plainfield Boro (21222)
Lot Size Square Feet 16117.00
Waterfront Y/N N
Street Name PARK
Tax Annual Amount 14838.0
Price Per Sq Ft Total 188.89
Acceptable Financing Cash Conventional
Vacation Rental Y/N N
Days on Market 38
Standard Status Pending
Year Built Source Estimated
Tax Lot 00002
Cap Rate 6.80
Buyer Agent Compensation Type % Of Gross
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Exterior
Water Source Public
Type of Parking Parking Lot
Water View Y/N N
Building Area Total 4500.00
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.37
Lot Size Units Square Feet
Lot Size Source Assessor
Land Assessed Value 142500.00
Navigable Water Y/N N
Water Oriented Y/N N
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Internal Only
Street Number 1 2219
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* Excluded Features
List By
Bhhs Fox & Roach - Princeton

Broker

tim@sellingnj.com

Email

Affordability Calculator

$6,886
Per Month
82%
18%
0%
Monthly Principal & Interest
$5,649
Monthly Property Taxes
$1,237
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2136830 Elementary School
2137124 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/15/2024$850,000 Listed Price

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2219 Park Avenue, South Plainfield, NJ, 07080 is a Commercial Property for sale at $850,000 with 4,050 sqft and a lot size of 0.37. 2219 Park Avenue is a studio with 0.0 baths and was built in 1970. The property's zip code is 07080 which is in South Plainfield, NJ

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