Packanack Lake, NJ Commercial Investment Properties for Sale
Explore commercial real estate investment properties for sale in Packanack Lake, New Jersey Market population: 277K. Explore income-producing properties with verified cap rates...
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12 properties found
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⭐ Featured
Strategic Oakland Investment: 5476 Vicente Way in High-Demand 94609 Zip Code
$1,200,000
Oakland
Multifamily
Cap Rate
2.70%
NOI
$32,400
Size
1,800 SF
📊 Avg Property Tax Rate For Packanack Lake NJ Properties: 2.2480%
⭐ Featured
High-Cap-Rate Value-Add Multifamily Investment in Oakland
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,323
Size
6,104 SF
Investor Questions For Packanack Lake NJ
Common questions from investors exploring commercial real estate in Packanack Lake NJ.
What's the overall investment potential of Newark, NJ, considering its demographics and economy?
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Newark's diverse population, with top ethnicities including Black (33.2%), Hispanic (25.2%), and White (15.4%), combined with a median household income of $33,960 and a poverty rate of 27.1%, suggests a market with potential for growth, especially given the strong presence of industries like Information and Public Administration, which can drive demand for housing.
How does the commute time and health insurance coverage impact the quality of life for renters in Newark?
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The average commute time of 32.3 minutes, with a significant portion of residents using public transit, indicates a relatively stable and accessible environment for renters, which is further reinforced by the 79.2% health insurance coverage rate, suggesting a population with access to necessary healthcare services.
What are the implications of the poverty rate and income inequality on the rental market in Newark?
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The 27.1% poverty rate and a GINI coefficient of 0.471 indicate significant income inequality, which may impact the rental market's stability, but the fact that 79.2% of the population has health insurance coverage and the median household income is $33,960, suggests that there is still a sizable working-class population that could support a rental market, especially with the right property management strategies.
How do the top industries in Newark influence the demand for real estate investments?
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The presence of top industries like Information, Public Administration, and Finance & Insurance, & Real Estate & Rental & Leasing, suggests a strong and diverse economic base, which can drive demand for housing, particularly for professionals and families working in these sectors, and thus, presents opportunities for real estate investors to cater to this demand with appropriate housing solutions.
What does the combination of median property value, property taxes, and homeownership rate indicate about the real estate investment landscape in Newark?
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The median property value of $243,200, combined with median property taxes of $21,002 and a homeownership rate of 23.0%, indicates a relatively high-cost environment for homeowners, which could make renting more attractive for many residents, thus potentially increasing demand for rental properties and presenting opportunities for investors, especially those who can navigate the tax landscape effectively.
Packanack Lake NJ Real Estate & City Facts
Key facts and real estate information about Packanack Lake NJ.
What are some of the best neighborhoods to live in Packanack Lake?
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Some of the best neighborhoods to live in Packanack Lake, NJ are Packanack Estates, Packanack Lake, Packanack Manor, Packanack Ridge, and Packanack Woods. These neighborhoods offer a range of housing options, from single-family homes to condos and townhouses, and are known for their beautiful lake views, tree-lined streets, and strong sense of community.
What are some fun things to do in Packanack Lake?
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There are plenty of fun things to do in Packanack Lake, NJ. You can hike or walk around the lake, visit the nearby Van Riper State Park, or explore the many trails and nature preserves in the area. If you're looking for something more low-key, you can grab a bite to eat at one of the local restaurants, such as Lake Drive Tavern, or shop at one of the many stores in the area.
What is the food scene like in Packanack Lake?
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The food scene in Packanack Lake, NJ is thriving, with a range of restaurants serving everything from classic American cuisine to international dishes. Some popular spots include Lake Drive Tavern, which offers a modern take on a neighborhood tavern, and The Craftsman, an upscale American restaurant with exceptional craft cocktails. There are also plenty of great food trucks and casual eateries in the area, so you're sure to find something that suits your taste and budget.
What are the pros and cons of living in Packanack Lake?
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The pros of living in Packanack Lake, NJ include its beautiful lake views, strong sense of community, and range of outdoor recreational activities. However, some cons include the potential for flooding in certain areas, as well as the fact that the area can be quite crowded during peak season. Additionally, some residents have noted that the area can be a bit pricey, with high property values and taxes. Overall, though, Packanack Lake is a wonderful place to live, with a unique blend of natural beauty, community spirit, and convenience.
Is Packanack Lake a good place to live?
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Yes, Packanack Lake, NJ is a great place to live, offering a unique blend of natural beauty, community spirit, and convenience. With its beautiful lake views, range of outdoor recreational activities, and strong sense of community, Packanack Lake is an ideal choice for families, retirees, and anyone looking for a peaceful and scenic place to call home. While there may be some drawbacks to living in the area, such as the potential for flooding and high property values, overall Packanack Lake is a wonderful place to live, work, and play.
⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Apartment Building with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Apartment Building
Cap Rate
7.97%
NOI
$183,300
Size
0 SF
📊 Average Income For Packanack Lake NJ Commercial Property: $33,960
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⭐ Featured
Prime Oakland Multifamily Investment: 6-Unit Property with 7.97% Cap Rate in Temescal
$2,299,999
Oakland
Multifamily
Cap Rate
7.97%
NOI
$183,324
Size
0 SF
⭐ Featured
Prime 18-Unit Multifamily Investment in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
⭐ Featured
New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
$5,800,000
Central City
Multifamily
Cap Rate
5.70%
NOI
$330,380
Size
13,454 SF
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⭐ Featured
Prime Value-Add Opportunity: 8-Unit Multifamily Asset in San Fernando, CA
$1,750,000
San Fernando
Multifamily
Cap Rate
6.66%
NOI
$116,550
Size
5,040 SF
⭐ Featured
Prime Valley Village Multifamily: 48-Unit Modern Apartment Complex with 3.39% Cap Rate
$30,000,000
Valley Village
Multifamily
Cap Rate
3.39%
NOI
$1,017,000
Size
52,393 SF
⭐ Featured
Prime San Fernando Multifamily: 5-Unit Value-Add Opportunity with 7.76% Cap Rate
$1,275,000
San Fernando
Multifamily
Cap Rate
7.76%
NOI
$98,945
Size
10,888 SF
⭐ Featured
Prime Turnkey Investment: Modern 2022 Multifamily Condo in Miami's High-Growth 33127
$2,450,000
Miami
Multifamily (Condo)
Cap Rate
%
NOI
$0
Size
30,000 SF
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⭐ Featured
Prime Investment Opportunity: 1531 Green St, Philadelphia, PA - Value-Add Multifamily Asset
$1,375,000
Philadelphia
Multifamily
Cap Rate
%
NOI
$0
Size
6,624 SF
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