Lee & Associates New Jersey on Tuesday said it has been retained to market for sale an office property and adjacent land site at 37 N. Day St. and 42 N. Essex Ave. in the city of Orange.
The commercial real estate firm’s Tarang Ramani and Beth Chezmar are handling the assignment.
Located between Main and White streets next to Orange City Hall, 37 N. Day St. includes a 17,250-square-foot, three-story elevator building. The first and second floors are currently fit-out as an adult day care center with open-plan day rooms, food prep/cafeteria areas, offices, multiple restrooms and a convenient drop-off location.
The third floor is leased to Newark Community Health Center, providing an in-place income source for potential buyers. The offering’s 9,000-square-foot vacant lot is located behind the building. Its frontage on North Essex Street can provide convenient additional parking, a recreational area or a building opportunity.
“The location and superior accessibility of this asset make it suitable for a variety of uses, from child day care and education to medical or professional office,” Ramani said. “A buyer will benefit from being in the heart of a public transit-served neighborhood within a densely populated community.”
Orange is home to a robust highway and public transportation infrastructure that includes two New Jersey Transit train stations — Orange and Highland Avenue — offering service into Manhattan in just under 30 minutes. The township also has an NJ Transit bus station and is served by several major thoroughfares including Interstate 280, Route 21 and the Garden State Parkway.
“Orange’s Main Street district is undergoing a notable transformation,” added Ramani, who specializes in the urban Essex County marketplace. “This includes several new large-scale multifamily communities designed to attract individuals and families that commute to NYC. Further, our team’s listings in the area are seeing active investor interest, underscoring the viability and desirability of Essex County’s urban downtowns.”
The 37 N. Day St./42 N. Essex Ave. offering provides demographic advantages including a residential population of more than 310,000 people within a three-mile radius. The property is proximate to retailers, restaurants and service providers, as well as local schools including the Rosa Parks Community School.