46-48 Franklin St Local commercial 716 m² 100 % Loué À vendre Belleville, NJ 07109 1 203 608 € (1 681,88 €/m²)

Prime Development Opportunity " Mixed-Use Site with Approved Plans". An 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 consists of one store front and 5 apartments and it 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.