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Listed by Paul Washington Coldwell Banker, Livingston
$ 1,299,000
Est. payment | /mo
$ 1,299,000
Est. payment | /mo
Key Details
Property Type Multi-Family, Commercial
Sub Type Res/Com Mixed
Listing Status Active Attorney Review
Purchase Type For Sale
MLS Listing ID 25009484
Style Res/Com Mixed
Property Sub-Type Res/Com Mixed
Property Description
Introducing 742 Lyons Ave Mixed Use, a 3-story masonry construction offering +7,800 sf inclusive of 7 separately metered income producing units; four 3-Bed/1-Bath apartment dwellings and three retail storefronts anchored by national pizza brand. Current 100% occupancy serves as basis for in-place cash flow and apartment rental income upside ranging -52% below the area's median market rate. Built around 1960, this corner lot asset benefits from high corner lot visibility at a signalized 4-way traffic intersection adjacent to the Garden State Parkway and close proximity to I-78/Irvington Park. The property is zoned B-1 "Neighborhood Business" offering versatile potential for businesses. Amenities include on-site driveway parking for 5-6 vehicles and immediate access to public bus transportation. With scalable rental improvement and prime location, this property presents a compelling opportunity for Core Plus/Value Add investors seeking long-term growth potential in the CRE space.
Location
State NJ
County Essex
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Thomas Mikalouskas
REALTOR® | Lic# 0235388