1062 Magnolia Ave
23,046 SF 100% Leased Industrial Building Elizabeth, NJ 07201 $4,500,000 ($195/SF)
EXECUTIVE SUMMARY
Discover a prime investment or owner occupied opportunity with this industrial property located on Magnolia Ave in Elizabeth, NJ. Spanning 22,000 square feet and situated on a .786 acre of land, this vacant building is offered at $4,500,000. The property is equipped with three 20-foot-high loading docks and two additional garages, ensuring excellent logistics and storage functionality for a variety of industrial uses.Adding to its appeal, the property includes an ample parking lot currently generating $7,000 per month in rental income on a month-to-month basis, offering immediate cash flow potential. Its strategic location near Newark Liberty International Airport and the Elizabeth Port Authority further enhances its value, making it an ideal choice for businesses reliant on transportation and shipping.Zoned C2, this property offers flexible use opportunities. Buyers are encouraged to consult with the local municipality to explore permitted uses and maximize the property's potential. Don't miss this chance to invest in a high-growth, sought-after area. .Possibility to build an apartment complex. However, not approved by the town and the sale it's not contingent on being that being approved.
PROPERTY FACTS
| Price | $4,500,000 |
| Price Per SF | $195 |
| Sale Type | Investment |
| Property Type | Industrial |
| Property Subtype | Food Processing |
| Building Class | B |
| Lot Size | 0.74 AC |
| Rentable Building Area | 23,046 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 1.3/1,000 SF |
| Clear Ceiling Height | 26’ |
| No. Dock-High Doors/Loading | 3 |
| No. Drive In / Grade-Level Doors | 1 |
| Opportunity Zone |
Yes |
AMENITIES
- Cooler
- Fenced Lot
- Freezer (Space)
- Property Manager on Site
- USDA/FDA
- Storage Space
UTILITIES
- Water - City
- Sewer - City
- Heating - Gas
1 of 1
Walk Score®
Very Walkable (88)
ZONING
| Zoning Code | Commercial |
