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$ 1,100,000
Est. payment | /mo
2,400 SqFt
$ 1,100,000
Est. payment | /mo
2,400 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $458
MLS Listing ID 2600288R
Year Built 1902
Annual Tax Amount $14,510
Tax Year 2023
Lot Size 2,482 Sqft
Acres 0.057
Lot Dimensions 99.00 x 25.00
Property Sub-Type Investment
Source CJMLS API
Property Description
An exceptional opportunity in the heart of Bayonne, 147 Avenue E is a fully vacant, mixed-use corner property located at Avenue E and East 17th Street. This well-maintained, two-story building offers versatility and income potential with three total units: a spacious commercial space on the ground floor and two residential apartments above. With the CCO already passed and all units delivered vacant, this property is ready for immediate occupancy or tenant placement in today's fast-moving market. The commercial space spans approximately 2,400 square feet and is completely boxed with nearly 11-foot ceilings, two ADA-compliant bathrooms, and three separate entrances, allowing it to be easily subdivided into multiple storefronts. This setup is ideal for a caf, lounge, restaurant, grocery, boutique, or office use. It has brand-new plywood flooring throughout, offering a blank slate for a buyer's custom buildout. Upstairs are two well-maintained residential units. The front apartment is newly renovated and accessed via a private outdoor staircase. It features two spacious bedrooms along with two bonus rooms that can be used as a home office, den, or playroom. The unit also includes a full bathroom with a washer and dryer hookup, a bright living room, a formal dining room, and a modern eat-in kitchen with quartz countertops and stainless steel appliances. The rear unit, facing East 17th Street, offers two bedrooms, an eat-in kitchen, and a comfortable living space. Both units are fully vacant and benefit from key upgrades including a new water heater and new furnace. The property also includes two full basements, offering ample storage or expansion possibilities. Located just 2 blocks from the 22nd Street Light Rail Station with direct access to Manhattan, this building is positioned in one of Bayonne's most connected and high-visibility corridors. It falls within the Nicholas Oresko School P.S. 14 district, one of the city's most sought-after school zones. What truly sets this property apart is what's happening directly across the street: a major mixed-use redevelopment project, designed by MHS Architecture and approved by the City of Bayonne. The development includes two buildingsone six stories and one eighteen storiescontaining a combined 286 residential units, 3,505 square feet of retail, and 409 parking spaces. This transformative project is expected to drive significant foot traffic and long-term demand to the immediate area, adding tremendous upside to any business operating at 147 Avenue E. Financially, the pro forma rent roll projects $105,600 in gross annual income, with estimated yearly expenses of $25,368, resulting in a projected net operating income of $80,232 and a strong cap rate of 7.29%. In a market shaped by constant change, 147 Avenue E offers rare value, flexibility, and prime positioning for both investors and end-users.
Location
State NJ
County Hudson
Zoning Commercial
Interior
Flooring Laminate, Tile, Wood
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, See Remarks
Roof Type See Remarks
Building
Story 2
Sewer Public Sewer
Water Public
Others
Senior Community no
Tax ID 0100242000000021
Listed by PROVIDENT LEGACY REAL ESTATE
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