NJ > Belleville Twp.
Belleville Twp., NJ 07109,46 Franklin St
Belleville Twp., NJ 07109,46 Franklin St
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Steven Pagan

Steven Pagan

+1(609) 631-5668
$1,400,000
Est. payment /mo
10,018 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3978065

HOA Y/N No

Annual Tax Amount $20,491

Tax Year 2024

Lot Size 10,018 Sqft

Property Description

Prime Development Opportunity ? Mixed-Use Site with Approved PlansAn exceptional investment opportunity awaits with this approved development site in a thriving urban location. This property is fully entitled for the construction of a mixed-use apartment building, featuring 24 residential units and one ground-floor commercial space?perfectly suited for today?s demand for walkable, community-focused living. The current structure on the lot is generating a Gross Operating Income (GOI) of approximately $100,000 annually, offering income potential during pre-construction planning. However, the building will need to be demolished to make way for the approved project.Investors and developers will benefit from a 5-year tax abatement, significantly reducing carrying costs and enhancing ROI. Importantly, this project is not designated as affordable housing, allowing for full market-rate rental opportunities. With plans in place, income-producing status, and development-ready approvals, this is a rare turnkey opportunity in a high-growth area.

Location

State NJ

County Essex

Zoning B-G

Interior

Inclusions Commercial/Industrial, Garage

Building

Lot Description Level Lot

Sewer Public Sewer on Property

Water Public Water on Property

Others

Senior Community No

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Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by SIGNATURE REALTY NJ
Steven Pagan

Our passion for real estate and love for New Jersey are a perfect match. We have made it our mission to help local residents sell their homes quickly and at the best possible prices, and  homebuyers in finding their perfect piece of paradise in New Jersey. 

+1(609) 631-5668

steven.pagan@thepagangroup.com

90 Tanner St, Haddonfield, NJ, 08033-2419, USA

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