Investment Property Realty Group’s New Jersey team was selected to exclusively market for sale The Station at Netherwood, a new, fully leased mixed-use property at 1008-1014 South Ave. in Plainfield.
The five-story property was completed in 2024 and occupies a nearly 1-acre lot and features 42 residential units and 1,456 square feet of ground-floor retail. The residential component has 31Â one-bedroom and 11 two-bedroom units, with average unit sizes of 757 and 1,002 square feet, respectively.Â
Amenities include a gym, lounge, bike storage, roof deck, and secure tenant storage. There are 48 parking spaces — 12 in a covered garage and 36 in a surface lot.
“The Station at Netherwood is a newly constructed, fully stabilized asset in one of Union County’s most dynamic and transit-accessible corridors,” said Yanni Marmarou, Managing Director of IPRG. “With direct across the street access to NJ Transit, this is an exceptional opportunity for investors seeking stability, growth and connectivity.”
Anchored by a long-term retail lease and 100% residential occupancy, the building is fully stabilized and benefits from a 30-year PILOT (Payment In Lieu of Taxes) program issued by the City of Plainfield—delivering predictable cash flow.
The property is across from the Netherwood Train Station on NJ Transit’s Raritan Valley Line with direct commuter access to New York City.Â
South Avenue has emerged as a focal point for urban revitalization and development in Plainfield, with more than 10 multifamily projects completed, under construction, or planned since 2020. Last November, the New Jersey Department of Community Affairs added Plainfield to its roster of communities in the Main Street New Jersey Program, an initiative aimed at encouraging and supporting the revitalization of downtown business districts throughout the state. With the designation, the city can receive technical assistance and training in how to strengthen its main streets as centers of community and economic activity.Â
