310 Central Ave, Orange, NJ 07050
0.5 Acres of Commercial Land Offered at $1,840,000 USD in Orange, NJ 07050
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,840,000
- Property Type
-
Land
Listing Contacts
Kevin Taub
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to present the multi-family development site located at 301 Central Avenue, Orange, Essex County, New Jersey. The legal description is Block 4201: Lot 3, which is a 0.5-acre or 21,873 square feet (75’x292’), rectangular shaped parcel, zoned MX-1. It is in an opportunity zone, immediately across the street from the southern border of the Central Orange Redevelopment plan. Zoning allows for low density residential and neighborhood commercial development.
Property Details
- Property Subtype
- Commercial
Highlights
- MX-1 Zoning allows low and mid rise multi-family development
- 50 unit maximum unit count, as of right
- Property dimensions are 75’x292’
- Orange is a strong multi-family market with rent control regulations that are landlord friendly
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