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15.43 Acres of Land - NW Bergen County - 68 Spruce Street, Oakland, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $6,400,000

  • 0

  • N/A

  • NOI :

  • Acres :

  • N/A

  • 15.43

  • Property Type :

  • Property Status :

  • Other

  • Under Agreement

Investment Highlights

  • The subject property is a parcel of land comprised of a total of 15.43 Acres of unimproved land, approximately 10 Acres is usable with the balance impacted by proximity to Ramapo River
  • Property is currently being used by several contractors primarily for outside storage, tenants will be vacated prior to a sale 
  • Located in the I-3 Zoning District, approximately 3.43 Acres is classified as commercial land and 12 Acres is classified as qualified farmland but is not preserved farmland 
  • Current Property Taxes are $10,021 for the 3.43 Acres and $273 for the qualified farmland
  • The property can be redeveloped into a low-coverage IOS site subject to the town's approval
  • Alternate development options may be possible; Site/Location also suitable for Cannabis development