50 River Rd - Prime Morris County Development Site
12.37 Acres of Commercial Land Offered at $1,395,000 in East Hanover, NJ 07936
INVESTMENT HIGHLIGHTS
- Located just off Rt 10, surrounded by premium brand retail stores. Traffic count is about 12,000 cars per day. Located between TD BANK and VERIZON.
EXECUTIVE SUMMARY
Vacant Land, great location for professional offices or residential development. The front lot is 1.88 acres, zoned PB-1 and the back lot (10.49 acres) is primarily Wetlands. Adjacent Retailers: Best Buy, Capital Lighting, Pier 1, Party City, Verizon, Golf Galaxy, Dollar Tree
Adjacent Restaurants: Panera, Boston Market, TGI Fridays
Adjacent Restaurants: Panera, Boston Market, TGI Fridays
PROPERTY FACTS
1 LOT AVAILABLE
Lot 49 & 49.10
| Price | $1,395,000 |
| Price Per AC | $112,772.84 |
| Lot Size | 12.37 AC |
Lot 49.01 is 1.88 Acres, Zoned PB-1. Lot 49 is 10.49 Acres, Zoned R-40, 90% of this lot is Wetlands.
DESCRIPTION
Prime development site just of Rt 10. The 1.88 acre front lot would permit building banks, office buildings for business, medical, professional or administrative, and Single Family Residences (similar to R-20 Zoning). The property consists of two lots: 1.88 acres on River Rd zoned PB-1 and 10.49 acres in the rear zoned RAH-4. There is about 2-3 acres of usable property facing River Rd, the remaining portion is wetlands. See attached Zoning Ordinances.
PROPERTY TAXES
| Parcel Number | 10-00096-0000-00049-01 | Improvements Assessment | $0 |
| Land Assessment | $280,000 | Total Assessment | $280,000 |
ZONING
| Zoning Code | PB-1 and R-40 (1. Single Family Residences 2. Professional Office Buildings) |
