I am thrilled to present an exclusive acquisition and development opportunity in the heart of the Ironbound Section of Newark. This off-market property is strategically located in the center of the Ironbound, within a vibrant and diverse community. With its rich cultural heritage, renowned dining scene, and proximity to major transportation hubs, this area is a magnet for both locals and visitors.
Currently, this property is vacant and features a full-scale commercial restaurant on the first floor, providing customers with the option of indoor and outdoor seating. Upstairs, there is a spacious 1–2-bedroom apartment, offering a versatile mix of commercial and residential spaces to suit various investment strategies.
In addition to delivering a robust and consistent return on investment, this site holds significant potential for further development.
C2 Zoning allows Investors the opportunity to construct a five-story building. Moreover, there is future potential for an eight-story building. This expansion potential significantly enhances the value and flexibility of this investment opportunity.
Situated in what is often referred to as the crown jewel of Newark, this highly sought-after location is perfect for developers and restaurateurs eager to make their mark in a thriving neighborhood. The existing amenities, coupled with the potential for growth, create an ideal environment for success.
Whether you choose to revive the restaurant with a fresh concept or explore the potential for future development, this property offers endless opportunities for growth and success.
Don't miss out on this exceptional chance to capitalize on the growth and prosperity of this bustling area.
Financial information is Available Upon Request.
