130 North Ave, Plainfield, NJ 07060
6,140 SF | 100% Leased | Retail Building | Online Auction Sale | Plainfield, NJ 07060
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 13 days
- Property Type
-
Retail, Restaurant
- Square Feet
- 6,140 SF
Listing Contacts
Jessica Camino
Verified Profile
Mary Humphreys
Verified Profile
- Property Info
Property Overview
This mixed-use asset, perfectly located at 130 North Avenue, presents buyers with a 100% leased investment in Plainfield, New Jersey. Built in 1885, the asset is placed in the North Avenue Historic District, which is a designated historic area known for its architectural significance and preservation efforts. The space consists of a first-floor retail space currently occupied by a Peruvian cuisine restaurant. Above are six total apartments broken out into four one-bedroom units and two two-bedroom units. The Peruvian restaurant lease has a few years remaining on its term, and the residential lease terms range from month-to-month to fixed lease terms. In 2017, the property underwent extensive renovations, featuring the installation of new water heaters, central air systems, and custom wood windows throughout. The generously tall ceilings in this residence amplify the influx of natural light, enhancing the overall ambiance. Each unit has its own furnace, electric panel, water heaters, and gas meters.
Plainfield has a diverse economy, with a mix of businesses in different sectors. It benefits from its proximity to larger cities like Newark and New York City, which can contribute to employment opportunities and economic activity. The multifamily submarket is also noteworthy in this area. Multifamily owners across Western Union County are riding a historic wave of renter demand, which is pushing vacancies lower from last year's all-time high. Asking rents in this submarket rank near the top of Northern New Jersey and have grown by 2.6% over the past year. Also a part of the broader Northern New Jersey Market, 130 North Avenue benefits from this strong area. Northern New Jersey's economy remains on solid footing, as rising payrolls and accelerating population growth provide a strong backdrop for consumer spending and housing demand.
130 North Avenue is situated in a transit-oriented location. With Plainfield Train Station and several bus stops within a two-block radius, it is easy to commute around town. The Garden State Parkway and Interstates 78 and 287 also aid in making commutes a breeze. Considered a suburb of New York City, there is an advantageous small town feel with big-city amenities. The tree-lined streets are dotted with many conveniences and retailers including shops, dining, entertainment, and more. Front Street is just two blocks over, boasting lots of local flair.
Well maintained with incredible accessibility, 130 North Avenue is primed to offer an ideal investment to buyers wanting to enter a lucrative market.
Property tours are available by appointment only, please contact the listing broker to schedule.
Plainfield has a diverse economy, with a mix of businesses in different sectors. It benefits from its proximity to larger cities like Newark and New York City, which can contribute to employment opportunities and economic activity. The multifamily submarket is also noteworthy in this area. Multifamily owners across Western Union County are riding a historic wave of renter demand, which is pushing vacancies lower from last year's all-time high. Asking rents in this submarket rank near the top of Northern New Jersey and have grown by 2.6% over the past year. Also a part of the broader Northern New Jersey Market, 130 North Avenue benefits from this strong area. Northern New Jersey's economy remains on solid footing, as rising payrolls and accelerating population growth provide a strong backdrop for consumer spending and housing demand.
130 North Avenue is situated in a transit-oriented location. With Plainfield Train Station and several bus stops within a two-block radius, it is easy to commute around town. The Garden State Parkway and Interstates 78 and 287 also aid in making commutes a breeze. Considered a suburb of New York City, there is an advantageous small town feel with big-city amenities. The tree-lined streets are dotted with many conveniences and retailers including shops, dining, entertainment, and more. Front Street is just two blocks over, boasting lots of local flair.
Well maintained with incredible accessibility, 130 North Avenue is primed to offer an ideal investment to buyers wanting to enter a lucrative market.
Property tours are available by appointment only, please contact the listing broker to schedule.
Property Details
- Class
- C
- Year Built/Renovated
- 1885/2018
- Stories
- 4
- Property Subtype
- Storefront Retail/Residential
- Lot Size (sq. ft)
- 1,742 SF
Highlights
- 100% occupied mixed-use building consisting of first-floor retail space with six multifamily units in a prime Plainfield, New Jersey, location.
- Transit-focused locale has many options within a two-block radius, including the Plainfield train station and several bus stops.
- Current in-place leases are staggered, allowing new ownership several options on how to structure future leases.
- Plainfield is projected to have a significant grown over the next five years with high average household incomes of $137,565 in a 5-mile radius.
Nearby Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].