1101 E 2Nd St Plainfield City, NJ $ 1,099,998
1101 E 2Nd St
$ 1,099,998
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1101 E 2Nd St

Plainfield City, NJ, 07062
$ 1,099,998
Baths0.6 Sq 4,512

Monthly Estimate*

$ 7,311

1101 E 2Nd St, Plainfield City, NJ 07062 - Image 1
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1101 E 2Nd St, Plainfield City, NJ 07062 - Image 17
Studio Commercial Property for sale in Plainfield City, NJ for $1,099,998 with 6 half baths. This 4,512 square foot building was built in 1935 on a lot size of 0.15.

Just reduced. Cap rate is over 8.5%. All units are rented. Current rent roll is is approximately $12k per month. This property includes 2 residential units each consisting of 3 bdrm/1 bathroom apartments. An operating hair salon, smoke shop, biker's club, and a construction contractor's office. Enjoy the revenues with little or nor work as almost everything has been renovated. New HVAC system, new roof, boiler. Each unit as separate utilities. 3 units have brand new Central A/C. A dedicated 5 car parking lot is in the rear of the building. On-street parking is also available. The roof was replaced in 2021, so less than 3 years old. All retail/residential units were all renovated recently and so this is as turnkey as they come. Lots of storage in this building as there are several basements. The construction contractor's office is owned by the seller, so they can move if you would like to occupy this retail space or they can sign a lease agreement. Yearly gross income - $136k, Expenses - $42k, Net operating income = 94k

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Commercial Active

Price

$ 1,099,998

Bedrooms

Studio

Half Bath

6

Property Type

Commercial

Taxes

$ 14,698

Style

MixedUse

Lot Size

0.15

Year Built

1935

Town/City

Plainfield City

County/Region

UNION

MLS | Web ID

3886503

Features
General
Sewer Public Sewer
Construction Brick/Block
Heating 4+ Units
Cooling 3 Units
Utilities Electric Gas-Natural
Possession At closing
Roof Flat
Zoning Commercial
Garage Spaces 5
Year Built 1935
Tenant Pays Electric Gas
Township Plainfield City
Property Type Mixed Use Office/Apartments Store With Apartment MixedUse
Tax Year 2023
Percent Ownership Fee Simple
Location Corner Freestanding
Lease Information 1 Year Minimum
Gross Income 144000
County Union
Net Operating Income 125000
Operating Expense 19000
Status Active
Directions Jonston to E 2nd St
Total Units 6
Street Name E 2Nd St
Tax Annual Amount 14698
Drive Off-Street Parking On-Street Parking Parking Lot-Exclusive
Leasable Area 4512
Days on Market 60
Standard Status Active
Tax Assessed Value 170000
Town # 2912
Tax Lot 19
Cap Rate 10.00
Farm Assessment No
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Interior
Basement Bilco-Style Door Full Walkout
Flooring Tile Wood
Fuel Type Gas-Natural
Total Stories 2
Half Baths 6
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Exterior
Water Source Public Water
Exterior Description Brick/Block Vinyl Siding
Building Area Total 4512
Lot Dimensions 125X52.28
Lot Size Acres 0.15
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* Excluded Features
List By
DAVID GUIRGUESS

Listing Agent

Realty One Group Central

Broker

Affordability Calculator

$8,536
Per Month
86%
14%
0%
Monthly Principal & Interest
$7,311
Monthly Property Taxes
$1,225
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
291163 Elementary School
291353 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
4/18/2024$1,099,998 -8.33% Price Down
2/17/2024$1,199,999 Listed Price

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1101 E 2Nd St, Plainfield City, NJ, 07062 is a Commercial Property for sale at $1,099,998 with 4,512 sqft and a lot size of 0.15. 1101 E 2Nd St is a studio with 0.6 baths and was built in 1935. The property's zip code is 07062 which is in Plainfield City, NJ