37 North Day St. and 42 North Essex Ave. in Orange — Courtesy: Lee & Associates New Jersey
By Joshua Burd
The owner of an office building and adjacent land in Orange is seeking a buyer for the properties, in a newly announced offering by Lee & Associates New Jersey.
According to the brokerage team, the 17,250-square-foot commercial structure at 37 North Day St. has three floors with existing uses in place. They include an adult day care center on the first and second floors with open-plan day rooms, food prep and cafeteria areas, offices, multiple restrooms and a drop-off location, as well as a third floor that is leased to Newark Community Health Center, providing an in-place income source for potential buyers.
The vacant parcel, at 42 North Essex Ave., is behind the building and spans 9,000 square feet, Lee & Associates said. The firm noted that the site’s frontage on North Essex Street can provide additional parking, a recreational area or a building opportunity.
Tarang Ramani and Beth Chezmar are leading the assignment for Lee & Associates New Jersey.
“The location and superior accessibility of this asset make it suitable for a variety of uses, from child daycare 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.”
In a news release, the team noted that Orange is home to NJ Transit’s Orange and Highland Avenue train stations, offering service to Manhattan in just under 30 minutes, as well as an NJ Transit bus station. It’s also served by several major thoroughfares including Interstate 280, Route 21 and the Garden State Parkway.
The Day Street and North Essex Avenue properties have a residential population of more than 310,000 within a three-mile radius, the news release said. They’re also near retailers, restaurants and service providers, as well as local schools including the Rosa Parks Community School.
“Orange’s Main Street district is undergoing a notable transformation,” Ramani said. “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.”
