184 Elm St - Storefront Retail/Office FOR SALE


Westfield, NJ 07090
$5,000,000 USD
201-988-6498
184 Elm St, Westfield, NJ for Sale
$5,000,000 USD
Storefront Retail/Office - FOR SALE
1/10
null | 9% Cap Rate

184 Elm St
Westfield, NJ 07090


HIGHLIGHTS

  • Property fully leased at an excellent CAP rate. Approvals to add 2 stories of residential units (10 apartments), valid through 2028.

OVERVIEW

12,000 SF existing building with full approvals to add 2 floors of residential units (10 total apartments: 4 (2 Bedroom) 6 (one bedroom)). 3,600 SF of the retail is leased to a bank and the other 2,400 SF is currently leased to a gym. 3-year terms remaining on leases with 5-year extension options (options must be mutual). Each residential unit will have a dedicated parking space, dedicated storage in the basement, two common areas (one basement, one rooftop), and each unit will have a separate dedicated "home office". Basement space (storage, common area and dedicated offices) can be left open or rented at purchaser's option.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$417 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Bank, Health Club, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

Retail/ Office/Resid

APN/PARCEL ID

20-02405-0000-00030

ASK ABOUT THIS PROPERTY

Robert BenacchioCommercial Realty PartnersMore Info
201-988-6498

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Robert BenacchioCommercial Realty PartnersMore Info
201-988-6498

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.