ADDRESS
62 E Park Place
Morristown, NJ 07960
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$1,599,000
77 Days On Site
895-897 Mayor GibsonNewark City, NJ 07102
For Sale|Mixed Use|Active
0
Beds
0
Total Baths
5,000
SqFt
$320
/SqFt
County:
Essex
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LOCATION, LOCATION, LOCATION!Located directly across from Newark Town Hall, this rare investment opportunity is perfect for builders and investors looking to capitalize on one of the city?s most sought-after commercial streets. The property currently operates as a Crown Fried Chicken (owned by the seller) and a nail salon generating $4,000/month in rental income. The property can be delivered fully vacant, offering flexibility for the buyer to reimagine its use. Development Opportunity: Per seller (buyer to conduct due diligence), zoning allows for the construction of up to 4 floors plus a ground floor, accommodating 12 residential units and 2 commercial spaces. This property is a true gem for investors and developers seeking to expand their portfolio. With unmatched location and versatile development potential, it?s a chance to create a significant asset in Newark?s bustling urban landscape.
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Listing Snapshot
Price
$1,599,000
Days On Site
77 Days
Bedrooms
N/A
Inside Area (SqFt)
5,000 sqft
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.11 Acres
Year Built
N/A
MLS® Number
3969074
Status
Active
Property Tax
$26,621
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
| 3 months ago | Listing updated with changes from the MLS® | |
| 3 months ago | Listing first seen on site |
General Features
Acres
0.11
Number Of Stories
3
Parking
On Street
Property Sub Type
Mixed Use
Security
Smoke Detector(s)
Sewer
Public Sewer
SqFt Total
5000
Utilities
Underground Utilities
Water Source
Public
Zoning
COMMERCIAL
Interior Features
Basement
FullWalk-Out Access
Flooring
Laminate
Heating
Natural Gas
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Exterior Features
Construction Details
Aluminum SidingFrameMetal Siding
Listing courtesy of REAL
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Neighborhood & Commute
Source: Walkscore
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