For more information regarding the value of a property, please contact us for a free consultation.
420 MADISON AVE Plainfield, NJ 07060
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Key Details
Sold Price $500,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 2,220 sqft
Price per Sqft $225
MLS Listing ID NJUN2000258
Sold Date 08/09/23
Originating Board BRIGHT
Year Built 1900
Annual Tax Amount $14,803
Tax Year 2022
Lot Size 5,306 Sqft
Acres 0.12
Lot Dimensions 45.00 x 117.95
Property Description
Commercial investment opportunity. Storefront with two apartments. Storefront presently used as check cashing business. Storefront has its own basement and HVAC - $2,985.13/month. Starting in June/July 2023 rent for commercial space will increase another 3% to $3,074.68/month. 10 year lease (exp 5/31/2026 with perpetuity clause). 1st Floor Apartment - 3 bedrooms, 1 bath, large updated eat-in kitchen, living room with beautiful coffered ceilings - $1,550/month. Hardwood floors throughout. 2nd Floor Apartment - 3 bedrooms, 1 bath, laminate flooring (1 year old) - $1,625/month. Access to large attic with great potential to finish into additional living space. Garage rented at $500/month. Close proximity to Plainfield Train Station and downtown. Property expense report available upon request. 24 hours notice required for showings.
Location
State NJ
County Union
Area Plainfield City (22012)
Zoning MU
Interior
Hot Water Natural Gas
Heating Radiator, Steam
Cooling None
Heat Source Natural Gas
Exterior
Garage Spaces 2.0
Waterfront N
Water Access N
Accessibility None
Parking Type Driveway, Private Garage
Total Parking Spaces 2
Garage N
Building
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Plainfield Public Schools District
Others
Tax ID 12-00702-00007
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
Read Less
Bought with Michele Gomez • Keller Williams Premier
GET MORE INFORMATION