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Lakewood School District·New Jersey

ReBid - Sale of MLK Property

Closes 3/24/2026$200k – $500kInvitation for Bid
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Description

This solicitation is a public rebid sale of a vacant residential‑zoned parcel located at 133 Martin Luther King Drive, Lakewood, NJ. The Lakewood Board of Education is offering the 0.17‑acre lot (Block 765, Lot 1.04) “as‑is, where‑is” with a portable building on site. Bidders must submit a sealed envelope with a $50,000 security deposit, meet a minimum bid of $750,000, and cannot withdraw their bid for 60 days after opening. The Board will award the highest responsible bid at its second regular meeting after the March 24, 2026 opening, with closing required within 60 days of award.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Diane Piasentini(Purchasing Manager)

[email protected]

(732) 905-3574

Key dates

Opened
10/12/2026
Pre-bid meeting
3/16/2026
Closes
3/24/2026

Last updated

Details

Type
Invitation for Bid
Industry
Real Estate
NAICS
531390
Solicitation №
BID 06-2526

Budget estimate

$200,000 – $500,000

While the solicitation does not specify a contractor fee, a developer/buyer would typically aim for a profit margin of 20‑30% on a $750k+ acquisition after accounting for land‑prep, permitting, and construction costs. Assuming a modest development scenario, the net earnings could range from roughly $200,000 to $500,000, depending on market conditions, financing costs, and the scope of any subsequent construction or resale activities.

AI estimate from the solicitation

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