1601 Arctic

Description

Asking Price $4,500,000 (4.5M) - Package Deal! Four lots | Blk 326 Lots 2, 5, 6 & 7 |complete block in the HIGHLY desirable CBD district! Likely THE LAST full block available in the CBD zone. Get in now, owner has priced to sell. No gamble here; just a fantastic opportunity to develop your next success story. On the corner of ML King Jr. Blvd., major thoroughfare in/out of the city, and historical Kentucky Ave. - across from ACCC's city campus. Key Aspects of the CBD Zone: Purpose: To promote and support core commercial, financial, retail, and entertainment functions vital to the city. Location: Primarily along major corridors like Atlantic and Pacific Avenues, within the broader CRDA (Casino Reinvestment Development Authority) Tourism District. Permitted Uses: Includes a wide range of activities like home occupations, multiple-family dwellings (upper floors), antique shops, bookstores, various retail stores, and potentially cannabis-related businesses as part of redevelopment efforts. https://www.acnj.gov/_Content/pdf/GREEN-ZONE-REDEVELOPMENT-FINAL-w-Exhibit-082222.pdf Redevelopment Focus: Part of the "Green Zone" redevelopment plan, aiming to address vacant properties and diversify offerings, attracting new businesses and revenue. Intensive Use: High land values and public convenience justify a greater intensity of development and activity compared to other commercial zones. *Tax & Assesment is the total for all lots