20 Acres For Sale Monroe NJ

Monroe, Gloucester County, NJ

$1,200,000

Price

20 acres

Lot Area

 
Overview
Lot Area
20 acres
Description

20 acres for sale or JV PRICE WAS $1.5 M now $1.2M

PROPOSAL FOR MONROE Gloucester county NJ 20 ACRES

FOR SALE this parcel is ready to submit for preliminary approval for 55 single family 55’/100’ age restricted. Or 90- 94 town homes it is currently age restricted but the town will allow no restriction, there is one house on this property, also this land it can be change to rental apartments up to 140 -200 units, with more affordable need to talk to township first. This parcel can be serve by swear and water and all utilities that is on site it may take about $250,000 to finish The approval and about 4- 6- months. The asking price was $2,000,000 to sale these 20 acres with one house on this land as is Asking Price Now $ 1,500,000 reduce again to $1,200,000

FOR PARTENRSHIP we need deposit of $250,000 to pay expenses and tax and engineering and the rest to finish the approval the partner will need to have all this money the price for partner to get 50% equity will be set at $1,200,000 for 50 % equity from total value, and the partners will need to pay for expenses from start of this partnership about $250,000 as we need to spend to get the final approval. We talk with 3-4 companies that like to buy the site with approved plans for about $ 26,000 per town home or $ 37,000 per single lot only with approval not improve or $22,000 for apt rental Or we can develop lots and sell improved lot for $ 60,000-$70,000 per town home. We also have 270 acres more next to the 20 acres to develop up to 1400 units mix residential + 200,000 sf shopping mall for JV or sale with all utilities. Investor can see profit of $500k-$600K on investment of $200k in -12 months. Only with the 20 acres, without building any houses.

Please call me if you need more detail Thank you Ralph 718 205- 6459 or 917 -653- 0272


Location
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