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Mixed Use Retail and Residential Opportunity 357 16th Ave 2,293 SF 100% Leased Retail Building Irvington, NJ 07111 $546,935 CAD ($238.52 CAD/SF)



Investment Highlights
- Mixed Use Investment or Owner User Opportunity Featuring Retail Storefront and Three Bedroom Apartment
- Full Basement for Storage or Operational Use with Easy Access to Major Commuter Routes
- Ground Floor Commercial Space Delivered as Open Shell Ready for Custom Buildout
Executive Summary
Here is what I came up with. I have to shorten to for the MLS. I think I want to add it as a residential multi-family as well. Thoughts? I think we should also revise the order of the pictures and start with the apartment pictures, then the downstairs, followed by the exterior / storefront pictures.
357 16th Avenue presents a flexible residential opportunity in Irvington’s R-2 zone, offering multiple paths for both end-users and investors.
Currently configured with a second-floor residential apartment and a street-level space previously used for commercial purposes, the property is well positioned for repositioning.
Based on guidance from the Township of Irvington zoning office, the lower level may be converted to residential use with the addition of garage parking, including replacing the existing steel gate with a traditional garage door, subject to buyer due diligence and approvals.
This creates several potential use cases:
• Owner-occupant seeking a live/work setup or future two-unit configuration
• Investor looking to create a 2-family income-producing property
• Value-add buyer seeking to reposition and increase long-term returns
The current layout includes:
• Second-floor three-bedroom apartment with updated finishes
• Ground-level open space with basement storage
• Separate utilities, allowing for flexible use and income potential
For those exploring further upside, there may also be the potential to expand vertically or reconfigure the layout to increase residential density, subject to township approvals.
Located just off Grove Street with convenient access to major transportation routes and neighborhood amenities, the property is well positioned for both immediate use and long-term value creation.
Buyers are responsible for verifying all zoning, use, and conversion requirements with the Township of Irvington.
357 16th Avenue presents a flexible residential opportunity in Irvington’s R-2 zone, offering multiple paths for both end-users and investors.
Currently configured with a second-floor residential apartment and a street-level space previously used for commercial purposes, the property is well positioned for repositioning.
Based on guidance from the Township of Irvington zoning office, the lower level may be converted to residential use with the addition of garage parking, including replacing the existing steel gate with a traditional garage door, subject to buyer due diligence and approvals.
This creates several potential use cases:
• Owner-occupant seeking a live/work setup or future two-unit configuration
• Investor looking to create a 2-family income-producing property
• Value-add buyer seeking to reposition and increase long-term returns
The current layout includes:
• Second-floor three-bedroom apartment with updated finishes
• Ground-level open space with basement storage
• Separate utilities, allowing for flexible use and income potential
For those exploring further upside, there may also be the potential to expand vertically or reconfigure the layout to increase residential density, subject to township approvals.
Located just off Grove Street with convenient access to major transportation routes and neighborhood amenities, the property is well positioned for both immediate use and long-term value creation.
Buyers are responsible for verifying all zoning, use, and conversion requirements with the Township of Irvington.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,293 SF
Year Built
1915
Price
$546,935 CAD
Price Per SF
$238.52 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.05
Lot Size
0.05 AC
Opportunity Zone
Yes
Zoning
B3 - B3 Limited Business District permitting retail, services, offices, and mixed use. Buyer to verify zoning with Irvington Township.
Exceptionally walkable
90/100
Fairly drivable
50/100
Strong public transit
80/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-00155-0000-00017 | Improvements Assessment | $254,957 CAD |
| Land Assessment | $174,675 CAD | Total Assessment | $429,632 CAD |
Property Taxes
Parcel Number
09-00155-0000-00017
Land Assessment
$174,675 CAD
Improvements Assessment
$254,957 CAD
Total Assessment
$429,632 CAD
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Mixed Use Retail and Residential Opportunity | 357 16th Ave
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