742 Lyons Ave Active Save Request In-Person Tour Request Virtual Tour
Irvington Twp.,NJ 07111
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 7,800 sqft
Price per Sqft $166
Subdivision South Ward
MLS Listing ID 3952551
Year Built 1960
Annual Tax Amount $29,249
Tax Year 2024
Lot Size 6,969 Sqft
Property Sub-Type Mixed Use
Property Description
Introducing 742 Lyons Ave Mixed Use, a 3-story masonry construction offering +7,800 sf inclusive of 7 separately metered income producing units; four 3-Bed/1-Bathapartment dwellings and three retail storefronts anchored by national pizza brand. Current 100% occupancy serves as basis for in-place cash flow and apartment rental income upside ranging -52% below the area's median market rate. Built around 1960, this corner lot asset benefits from high corner lot visibility at a signalized 4-way traffic intersection adjacent to the Garden State Parkway and close proximity to I78/Irvington Park. The property is zoned B-1 "Neighborhood Business" offering versatile potential for businesses. Amenities include on-site driveway parking for 5-6 vehicles and immediate access to public bus transportation. With scalable rental improvement and excellent location, this property presents a compelling opportunity for Core Plus/Value Add investors seeking long-term growth potential in the commercial real estate space.
Location
State NJ
County Essex
Zoning B-1
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling See Remarks, Window A/C(s)
Equipment See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Garage Spaces 5.0
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Lot Description Corner, Level Lot
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple