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  5. ›Sale of Township Property - Locust Avenue

Township of Lawrence·New Jersey

Sale of Township Property - Locust Avenue

Closes 2/17/2021$10k – $30kInvitation for Bid
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Description

The Township of Lawrence is offering a vacant, residential‑zoned parcel (Block 2324, Lots 1‑3) on Locust Avenue for sale. Interested parties must submit a sealed bid meeting the minimum price of $45,000 and include a 10 % deposit. The bid package is free, can be obtained starting Jan 26 2021, and bids will be publicly opened on Feb 17 2021. The award is anticipated at the Council meeting on Mar 2 2021, after which the successful bidder has a 30‑day due‑diligence window for inspections and title work. • Minimum purchase price: $45,000 (10 % deposit required). • Property: vacant land, R‑4 residential zoning, utilities on‑site, viewable from the street. • Timeline: Bid package available Jan 26 2021 → Bid opening Feb 17 2021 → Award Mar 2 2021 → 30‑day inspection period. • No warranties on wetlands or environmental conditions; “as‑is” sale. • All bids must be sealed and addressed to the Engineering Department per the supplied form.

Attached files

Contact

Kevin P. Nerwinski(Municipal Manager)

[email protected]

(609) 844-7087

Key dates

Opened
1/26/2021
Closes
2/17/2021
Projected award
3/2/2021

Last updated

Details

Type
Invitation for Bid
Industry
Property Development
NAICS
531311
Solicitation №
21-01

Budget estimate

$10,000 – $30,000

As a buyer‑developer, expected profit depends on construction costs, market resale values, and any site‑improvement expenses. Assuming modest development (single‑family home) with purchase at $45 K, construction costs around $150‑$200 K, and a resale price of $250‑$300 K, the net profit could range from roughly $10 K to $30 K after accounting for permitting, inspections, and a 10 % deposit.

AI estimate from the solicitation

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