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475 S Jefferson St
Orange, NJ 07050

Hat City Lofts · Multifamily Property For Sale · 32 Units

Investment Highlights

  • 15+ Years left on TAX ABATEMENT THAT IS TRANFERRABLE!
  • All equipment and branding can be included in sale for no extra fee.
  • Unit was built new in 2021 with no expenses spared.

Executive Summary

Beautiful 2,750 sq ft commercial unit inside the Berg Hat Factory Condos located in the ARTS District in Orange! The condo building's renovation was completed in 2018. This unit was completely converted from raw space in early-2021, and retains its large factory-like windows, high ceilings, and industrial feel. Currently, the space is configured and used as a fitness/wellness studio. The space could be left as is or configured for use as professional offices, photographer/artist studios, or even a live/work space. Current configuration features: an open, airy loft-like area with a large reception area,a large lounge/meeting area, and a coffee bar; two sound-proofed fitness studios (including one with a heating system for hot yoga); a separate office/workroom; 2 restrooms and a shower room; two storage closets. Wired for mesh network and professional sound system throughout. Space has it’s own separate entrance with permitted signage and an additional entrance through the building’s common area. The unit overlooks the lovely private courtyard. Ideal location with the Highland Train Station 3 blocks away and Mountain Station in South Orange less than a mile away. Easy access to route 280. Monthly HOA is approximately $500. Low utility bills (water included in HOA). Transferable 15+ year tax abatement/reduction. Owner’s taxes were less than $2000 for 2020 and 2021. Space is also for lease for $4500/month. Existing fitness business and all furnishings can be negotiated into the sale or lease. Opportunities like this are like shooting stars, DON'T MISS YOUR CHANCE!

PROPERTY FACTS

No. Units 32
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Building Size 40,000 SF
Average Occupancy 95%
No. Stories 7
Year Built 2017
Parking Ratio 21.82/1,000 SF
APN / Parcel ID 17-05004-0000-00027-01

zoning

Zoning Code Commercial
Commercial
  • Listing ID: 27248108

  • Date on Market: 12/5/2022

  • Last Updated:

  • Address: 475 S Jefferson St, Orange, NJ 07050

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