An exceptional investment opportunity is presented at 13-09 River Road in Fair Lawn, New Jersey. This offering includes a seven-unit, income-producing mixed-use building constructed in 2017, accompanied by a neighboring single-family home. The existing building is designed for commercial and residential use, featuring two retail storefronts on the ground level and an elevator for accessibility. The second floor comprises three apartments, each with two bedrooms and two bathrooms, while the third floor offers two apartments, each with three bedrooms and two bathrooms. Tenants are responsible for their own utility costs, contributing to the property's operational efficiency.
The property provides ample parking, with a total of 12 spaces allocated: two spaces for each apartment and one space for each retail storefront. This arrangement ensures convenience for both residents and commercial patrons. The building's construction in 2017 signifies modern infrastructure and design. Additionally, the basement offers separately rented storage units, creating an additional revenue stream for the owner. The property is situated in Bergen County, within the 07410 postal code.
Included in this sale are approved plans for a new mixed-use building at the adjacent property, 13-13 River Road. These plans detail two retail storefronts and five residential units, each designed with three bedrooms and two full bathrooms. This presents a significant opportunity for future development and increased rental income. The existing building's total finished square footage is 908, and the lot size is 7,048 square feet.
This offering is particularly well-suited for builders, investors, and individuals considering a potential 1031 exchange. The combination of current rental income from the established seven-unit building and the approved expansion plans for the neighboring property offers a robust potential for growth in a sought-after neighborhood. The property's location in Fair Lawn, NJ, provides access to local amenities and transportation networks.
Howard Hanna Rand Realty
973-941-6000
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