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1508 Front St
Scotch Plains, NJ 07076
Retail Property For Sale
Investment Highlights
- Additional 70’ x 140’ lot behind the main building offers outdoor storage or rental potential.
- Zoned B-2 with potential for multiple business uses; variance may allow further development.
- Second building leased to Rita’s Ice and Subway provides consistent income.
- High-visibility location near Route 22 with easy regional access.
Executive Summary
This property was previously used as a construction and overhead garage company for many years. The lot behind the main building is approximately 70' x 140'. In addition, there is a second building on the property facing 111 Terrill Road, currently leased to Rita's Ice and Subway, providing steady rental income. The Front Street building offers approximately 1,200 sq. ft. of office space, along with a 600 sq. ft. garage ideal for running your own business while benefiting from two existing income-producing tenants to help offset the mortgage. The property is zoned B-2, . Located in an X Flood Zone, no flood insurance is required. The lot behind the building offers potential rental income with a use variance.. Rita rent is 2995 and subway 2950 per month . The vacant office and garage has a potential of 3000 per month.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
2,000 SF
Building Class
C
Year Built/Renovated
1960/1995
Price
$1,670,040 CAD
Price Per SF
$835.02 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.06 AC
Zoning
B-2
Parking
40 Spaces (20 Spaces per 1,000 SF Leased)
Frontage
116’ on Front St
Property Taxes
| Parcel Number | 16-00201-0000-00023-01 | Improvements Assessment | $160,232 CAD |
| Land Assessment | $107,007 CAD | Total Assessment | $267,239 CAD |
Property Taxes
Parcel Number
16-00201-0000-00023-01
Land Assessment
$107,007 CAD
Improvements Assessment
$160,232 CAD
Total Assessment
$267,239 CAD
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