420 Madison Avenue, Plainfield, NJ 07060 - Photo 1

1/1

$500,000

Sold
Closed
Commercial

1/1

Property Description

Commercial investment opportunity. Storefront with two apartments. Storefront presently used as check cashing business. Storefront has its own basement and HVAC - $2,985.13/month. Starting in June/July 2023 rent for commercial space will increase another 3% to $3,074.68/month. 10 year lease (exp 5/31/2026 with perpetuity clause). 1st Floor Apartment - 3 bedrooms, 1 bath, large updated eat-in kitchen, living room with beautiful coffered ceilings - $1,550/month. Hardwood floors throughout. 2nd Floor Apartment - 3 bedrooms, 1 bath, laminate flooring (1 year old) - $1,625/month. Access to large attic with great potential to finish into additional living space. Garage rented at $500/month. Close proximity to Plainfield Train Station and downtown. Property expense report available upon request. 24 hours notice required for showings.

Full Property Details

Full Property Details for 420 Madison Ave

General

Sold For: $500,000
Taxes: $14,803 (2022)
Status: Closed
Type: Commercial
Source: BrightMLSTriStates
MLS ID: NJUN2000258
Added to Site: 979 day(s) ago

Business

Business Type: Other

Parking

Total Spaces: 2
Parking Type: Driveway, Private Garage

Location

Area: Plainfield City (22012)
Municipality: PLAINFIELD CITY
County: Union
Driving Directions: W 4th Street to Madison Ave

Heating & Cooling

Cooling Type: None
Heating Type: Radiator, Steam
Heating Fuel: Natural Gas
Water Heater: Natural Gas

Utilities

Sewer: Public Sewer
Water: Public

Structural Information

Construction: Other
Stories/Levels: 0
Year Built: 1900
Year Built Source: Estimated

Unit Information

# Tenants: Multiple

Lot Features

Lot Size (Acres): 0.12
Lot Size (Sq. Ft.): 5,306
Lot Size Source: Estimated
Lot Dimensions: 45.00 x 117.95
Zoning: MU

Financial Considerations

Price Per Sq. Ft.: $281.53
Assessment Year: 2022
Tax w/Assessment: $175,000
Tax Amount: $14,803
Tax Year: 2022

Disclosures and Reports

Ownership: Fee Simple
Lot Number: 7

Listed and Sold by Keller Williams Premier, Michele Gomez

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Listing agent

— 420 Madison Ave —

Michele Gomez

Keller Williams Premier

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Schools

Schools serving 420 Madison Ave

School District:Plainfield City School District

Name	Grades	Distance
Charles H. Stillman Elementary School 201 W Fourth St, Plainfield, NJ 07062	K-5	0.1 mi
Hubbard Middle School 661 West 8th Street, Plainfield, NJ 07060	6-8	0.6 mi
Plainfield High School, Plainfield, NJ 950 Park Avenue, Plainfield, NJ 07060	9-12	0.5 mi

Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 420 Madison Ave

Date

Details

Price

Change

Source

8/09/2023

Sold

$500,000

-20%

MLS

7/27/2023

Listed

$624,999

—

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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420 Madison Avenue, Plainfield, NJ 07060 (MLS# NJUN2000258) is a Commercial property that was sold at $500,000 on August 09, 2023. Want to learn more about 420 Madison Avenue? Do you have questions about finding other Commercial real estate for sale in Plainfield? You can browse all Plainfield real estate or contact a Coldwell Banker agent to request more information.

420 Madison Ave Plainfield, NJ 07060