Commercial space For Sale in Palisades Park, NJ
MLS# : 23028842
PROPERTY DETAILS
PROPERTY DESCRIPTION
Location! Location! Phenomenal opportunity to OWN your very own commercial space in a PRIME location currently serving as a reputable and long standing mechanic shop staple on Route 5 in Palisades Park in a dynamic and very busy location. Sale includes the entire building sitting on approximately 1700+ square feet on a larger lot. Building includes a bright & airy office space, bathroom, storage room and utility room with 3 large bay doors with tons of parking on the lot. Fantastic opportunity and major potential to convert into another commercial space of the new owners choosing and build accordingly with township approval as needed or leave simply as is for additional passive income with the current tenant. Location is truly unbeatable- A MUST SEE.
Amenities
This listing is a courtesy of Prominent Properties Sotheby's International Realty-Jersey City
(201) 333-7717 office, listing agent Antonio M. Henriques
About Palisades Park, NJ Real Estate Market
The foundation of Palisades Park as a modern borough got laid in 1899 under an act of the New Jersey Legislature. A few portions of Ridgefield Township got included for the formation of Palisades Park, which seeks inspiration from its location, which is at the top of New Jersey Palisades.
As said above, it is densely inhabited by Koreans, which form around 65 per cent of the total population of the borough. The borough is also known as ‘Little Korea’ and ‘Koreatown on the Hudson’ by the American natives. Even the central business district located around Broad Avenue is known as Koreatown due to the rich ethnicity of Koreans in the area. In 2015, a proposal for changing the name of Broad Avenue to ‘Korea Way’ was introduced by the Korean-American Association of Palisades Park to the mayor of the town. The influence of Korean culture is evident in this part of New Jersey real estate too.
| Population: | 19,622 |
| Total Housing Units: | 7,362 |
| Single Family Homes: | 3,547 |
| General Tax Rate (2021): | 1.584% |
| Effective Tax Rate (2021): | 1.357% |
| Compare To Other Towns |
Palisades Park Market Indicators
PRICE INDEX
| Average Price* (12mo): | $724,916 |
| Homes Sold* (12mo): | 12 |
SINGLE FAMILY HOME SALES
Palisades Park, NJ
REAL ESTATE TAXES
| General Tax Rate (2021): | 1.584% |
| Effective Tax Rate (2021): | 1.357% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $599,000 - 1,730,000 | 2 avail |
| Condos : | $370,000 - 1,488,000 | 14 avail |
| Co-ops : | - | |
| Twnhs : | $469,500 - 2,250,000 | 20 avail |
| 2-4 Fam : | $849,000 - 2,700,000 | 13 avail |
| 5+ Fam : | - | |
| Land : | $1,650,000 - 4,000,000 | 2 avail |
| Rentals : | $1,650 - 8,250 | 50 avail |
| Mixd Use : | - | |
| Com S : | - | |
| Com L : | - | |
| Biz : | $20,000 - 1,850,000 | 10 avail |
