Description
The offering at 45 Tichenor Street offers a truly unique opportunity for development in South IronBound. The lot measures approximately 12,000 square feet, zoned R4 - allowing for low-rise multifamily development up to 4 stories high, as-of-right. Coupled in with this development potential is a current tenant paying $7,500/month. There is an active lease in place, but the lease does contain a cancellation clause, which a new buyer can exercise once shovels are ready. Its rare to find a development site with current cash flow that can act as a hedge to your investment. Buyers are responsible for independently verifying the maximum development potential.
Location
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