147 Avenue EBayonne, NJ 07002

An exceptional opportunity in the heart of bayonne 147 avenue e is a fully vacant mixed use corner property located at avenue e and east 17th street this well maintained two story building offers versatility and income potential with three total units a spacious commercial space on the ground floor and two residential apartments above with the cco already passed and all units delivered vacant this property is ready for immediate occupancy or tenant placement in today s fast moving market the commercial space spans approximately 2 400 square feet and is completely white boxed with nearly 11 foot ceilings two ada compliant bathrooms and three separate entrances allowing it to be easily subdivided into multiple storefronts this setup is ideal for a caf lounge restaurant grocery boutique or office use it has brand new plywood flooring throughout offering a blank slate for a buyer s custom buildout upstairs are two well maintained residential units the front apartment is newly renovated and accessed via a private outdoor staircase it features two spacious bedrooms along with two bonus rooms that can be used as a home office den or playroom the unit also includes a full bathroom with a washer and dryer hookup a bright living room a formal dining room and a modern eat in kitchen with quartz countertops and stainless steel appliances the rear unit facing east 17th street offers two bedrooms an eat in kitchen and a comfortable living space both units are fully vacant and benefit from key upgrades including a new water heater and new furnace the property also includes two full basements offering ample storage or expansion possibilities located just a short walk from the 22nd street light rail station with direct access to manhattan this building is positioned in one of bayonne s most connected and high visibility corridors it falls within the nicholas oresko school p s 14 district one of the city s most sought after school zones what truly sets this property apart is what s happening directly across the street a major mixed use redevelopment project designed by mhs architecture and approved by the city of bayonne the development includes two buildings one six stories and one eighteen stories containing a combined 286 residential units 3 505 square feet of retail and 409 parking spaces this transformative project is expected to drive significant foot traffic and long term demand to the immediate area adding tremendous upside to any business operating at 147 avenue e financially the pro forma rent roll projects 105 600 in gross annual income with estimated yearly expenses of 25 368 resulting in a projected net operating income of 80 232 and a strong cap rate of 7 29 in a market shaped by constant change 147 avenue e offers rare value flexibility and prime positioning for both investors and end users