46 Franklin St, Belleville Twp., NJ

About 46 Franklin St

Prime Development Opportunity ? Mixed-Use Site with Approved PlansAn exceptional investment opportunity awaits with this approved development site in a thriving urban location. This property is fully entitled for the construction of a mixed-use apartment building, featuring 24 residential units and one ground-floor commercial space?perfectly suited for today?s demand for walkable, community-focused living. The current structure on the lot is generating a Gross Operating Income (GOI) of approximately $100,000 annually, offering income potential during pre-construction planning. However, the building will need to be demolished to make way for the approved project.Investors and developers will benefit from a 5-year tax abatement, significantly reducing carrying costs and enhancing ROI. Importantly, this project is not designated as affordable housing, allowing for full market-rate rental opportunities. With plans in place, income-producing status, and development-ready approvals, this is a rare turnkey opportunity in a high-growth area.

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