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1101 E 2nd St, Plainfield, NJ 07062
$1,099,998
1101 E 2nd St, Plainfield, NJ 07062View this property at 1101 E 2nd St, Plainfield, NJ 07062
1101 E 2nd StPlainfieldNJ07062
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Property Description
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
Full Property Details
Full Property Details for 1101 E 2nd St
General
- Price: $1,099,998
- Taxes: $14,698 (2023)
- Status: Active
- Type: Retail
- MLS ID: 3886503
- Updated: 4/17/2024
- Added to Site: 73 day(s) ago
Business
- Includes: Building & Land
Rental Information
- Lease Terms: 1 Year Minimum
Interior
- Flooring: Tile, Wood
Rooms
Bathrooms
- Total Bathrooms: 6
- Restrooms: 6
Additional Information
- Equipment: Appliances
Parking
- Garage Spaces: 5
- Parking: Off-Street Parking, On-Street Parking, Parking Lot-Exclusive
Location
- County: Union
- Driving Directions: Jonston to E 2nd St
- Location Details: Corner, Freestanding
Heating & Cooling
- Cooling Type: 3 Units
- Heating Type: 4+ Units
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Electric, Natural Gas
Structural Information
- Construction: Brick/Block
- Exterior Const.: Brick/Block, Vinyl Siding
- Basement: Yes
- Basement Desc.: Bilco-Style Door, Full, Walk-Out
- Roof: Flat
- Ceiling Height: 8
- Stories in Building: 2
- Square Feet: 4,512
- Aprox. Leasable: 4,512 Sq. Ft.
- Office: 4,512 Sq. Ft.
- Year Built: 1935
- Remodeled/Updated: 2018
Unit Information
- 3 Bedroom Units: 2
- Units w/Full Bath: 2
- Units w/Half Bath: 4
Lot Features
- Lot Size (Acres): 0.15
- Lot Size: 125X52.28
- Zoning: Commercial
Financial Considerations
- Expenses: Taxes, Water/Sewer
- Operating Expenses: $19,000
- Assessment Amount: $170,000
- Land Assmt: $40,000
- Tax Amount: $14,698
- Tax Year: 2023
- Owner Pays: Maintenance-Common Area
- Tenant Pays: Electric, Gas
- Pays Utilities: Tenant
Disclosures and Reports
- Ownership: Fee Simple
- Documents Avail.: Income & Expenses, Leases
- APN: 2912-00331-0000-00019-0000-
- Block: 331
- Lot Number: 19
Listed by Realty One Group Central
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Schools
Schools serving 1101 E 2nd St
School District:Plainfield Public Schools District
Rating | Name | Grades | Distance |
---|---|---|---|
305 Emerson Ave, Plainfield, NJ 07062 | K-5 | 0.2 mi | |
920 E 7th St, Plainfield, NJ 07062 | 6-8 | 0.6 mi | |
950 Park Ave, Plainfield, NJ 07060 | 9-12 | 1.5 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1101 E 2nd St
Date
Details
Price
Change
Source
4/17/2024
Price Reduced
$1,099,998
-8.33%
MLS
2/17/2024
Listed
$1,199,999
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1101 E 2nd St, Plainfield, NJ 07062 (MLS# 3886503) is a Retail property. 1101 E 2nd St is currently listed for $1,099,998 and was received on February 17, 2024. Want to learn more about 1101 E 2nd St? Do you have questions about finding other Retail real estate for sale in Plainfield? You can browse all Plainfield real estate or contact a Coldwell Banker agent to request more information.