Property

Hope Twp., NJ 07844 2 Walnut Ln

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Presented By: RE/MAX TOWN & VALLEY II; 908-343-5328
  • MLS# 3881460
  • 01/14/2024
  • Request Tour
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  • Full/Half Baths • 0 / 4
  • SQFT • 4,352
  • Garage • 4

Home Details

Introducing the Hope Long House, a remarkable investment in the heart of the historic Village of Hope! This fully rented 4-unit commercial building boasts a substantial gross annual income of $58,608. Steeped in history, the Long House has roots dating back to the 1770s when it was originally inhabited by the Moravians. Throughout the years, it has served various purposes, from a confectionary shop to a tinsmith, stove store, post office, residential units, antique stores, and a furniture store. Today, it proudly hosts a retail operation, a health/wellness center, and two commercial offices. Recent renovations, backed by grants totaling over $500,000, have revitalized the building. Upgrades include newer roofing, siding, and interiors, ensuring a modern and appealing space. The property is equipped with a modern septic system and features convenient off-street parking. Strategically located just minutes from Route 80 at Exit 12 and a mere hour from NYC, this investment opportunity offers both historical charm and practical convenience. With potential for a solid 9% ROI, you can capitalize on this chance to own a piece of history. The Long House is not just a lucrative property; it's a significant part of the community in a charming town that hosts events throughout the year. This sale includes the building and property, excluding the businesses currently operating within. Don't miss out on the chance to be the proud owner of the Long House, where history meets profitability!
Presented By: RE/MAX TOWN & VALLEY II; 908-343-5328

Interior Features for 2 Walnut Ln

Bathrooms

Half Baths4

Other Interior Features

Price Per Sq Ft97.65
Available Sq Ft4352
BasementPartial, Storage
FlooringVinyl-Linoleum, Wood
Fuel TypeElectric, GasPropO
Total Stories2

General for 2 Walnut Ln

ConstructionSee Remarks, Wood
Cooling4+ Units, Central Air
CountyWarren
Days on Market101
DirectionsRt 80 to Exit 12. Take 521 South to the center of Hope (blinking light). Left onto High Street, building on left on the corner of High and Walnut.
Documents AvailableIncome & Expenses, Leases, Survey
Drive2 Car Width, Off-Street Parking, On-Street Parking, Parking Lot-Exclusive
EasementYes
Equipment AvailableRestrooms - Private, Smoke Detector, Storage Area(s)
Farm AssessmentNo
Garage Spaces4
Gross Income58608
Heating4+ Units
Leasable Area4352
LocationResidential Area, See Remarks
Net Operating Income99999
Operating Expense99999
OwnerPaysSnow Removal, Water
Percent OwnershipFee Simple
PossessionPOT
Property TypeOffice/Retail
Property TypeOffcRetl
RoofSlate, Wood Shingle
ServicesCable TV Available, Internet Available
SewerSeptic
Standard StatusActive
StatusActive
Street NameWalnut Ln
Tax Annual Amount9939
Tax Assessed Value311200
Tax Lot400
Tax Year2023
Tenant PaysElectric
Total Units4
Town #3011
TownshipHope Twp.
UtilitiesElectric, Gas-Propane
Utilities Paid ByTenant
Year Built1775
ZoningHMH

Exterior for 2 Walnut Ln

Building Area Total4352
Exterior DescriptionWood
Lot Dimensions195 FF IRR 0.37 AC
Lot FeaturesCorner, Open Lot
Lot Size Acres0.37
Max Ceiling Height0
Max Door Height0
Number of Bays0
Number of Docks0
Total Parking4
Water SourceShared Well

Additional Details

Price History

Karina Gil

Associate
Price $399,000
MLS#3881460
List Date 01/14/2024
Property Type Commercial
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