1508 Front St, Scotch Plains Twp., NJ

About 1508 Front St

This property was previously used as a construction and overhead garage company for many years. The lot behind the main building is approximately 70' x 140'. In addition, there is a second building on the property facing 111 Terrill Road, currently leased to Rita's Ice and Subway, providing steady rental income. The Front Street building offers approximately 1,200 sq. ft. of office space, along with a 600 sq. ft. garage ideal for running your own business while benefiting from two existing income-producing tenants to help offset the mortgage. The property is zoned B-2, and the owner may assist in pursuing a variance for alternative uses if desired. Located in an X Flood Zone, no flood insurance is required. . If approved, the lot could generate an estimated $5,000 per month in additional income. The owner may be willing to contribute toward the cost of obtaining such a variance, depending on the variance. Potential cap rate of 10%

Listing Map