46 Franklin St, Belleville Twp., NJ 07109
Land 
Built in —— 
10,019sqft lot
—— car garage 
$——/sqft 
Listed 3 days ago
Property Description
Prime Development Opportunity ? Mixed-Use Site with Approved PlansAn exceptional investment opportunity awaits with this approved development site in a thriving urban location. This property is fully entitled for the construction of a mixed-use apartment building, featuring 24 residential units and one ground-floor commercial space?perfectly suited for today?s demand for walkable, community-focused living. The current structure on the lot is generating a Gross Operating Income (GOI) of approximately $100,000 annually, offering income potential during pre-construction planning. However, the building will need to be demolished to make way for the approved project.Investors and developers will benefit from a 5-year tax abatement, significantly reducing carrying costs and enhancing ROI. Importantly, this project is not designated as affordable housing, allowing for full market-rate rental opportunities. With plans in place, income-producing status, and development-ready approvals, this is a rare turnkey opportunity in a high-growth area.
- Listing Status:
- Active
- Listing Office:
- SIGNATURE REALTY NJ : 973-921-1111
- MLS ID:
- 3978065
- County: Essex
This listing courtesy of SIGNATURE REALTY NJ
Monthly Payment
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
Location
Schools Nearby
Belleville Ps4
30 Magnolia St, Belleville, NJ, 07109
Grades PK-6
0.18 miles away
Belleville Middle School
279 Washington Ave, Belleville, NJ, 07109
Grades 7-8
1.58 miles away
Belleville High School
100 Passaic Ave, Belleville, NJ, 07109
Grades 9-12
1.85 miles away
