491 Bloomfield Ave - Storefront Retail/Office FOR SALE


Caldwell, NJ 07006
$2,400,000 USD
201-215-1811
491 Bloomfield Ave, Caldwell, NJ for Sale
$2,400,000 USD
Storefront Retail/Office - FOR SALE
1/8
null | 6.45% Cap Rate

491 Bloomfield Ave
Caldwell, NJ 07006


HIGHLIGHTS

  • Convenient Location
  • Diverse Rent Roll
  • Attractive Rent Increases
  • Value-Add Potential
  • Strong School System
  • Proximity to Higher Education

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the investment property located at 485-491 Bloomfield Ave, New Jersey (“the Property”). The Property consists of two adjacent commercial buildings containing a total of eight (8) units within 14,300 square feet on a combined 0.53-acres of land. The Property is 93.71% leased to a complimentary mix of tenants and has one vacant 900 square foot unit, offering upside via lease up. includes on-site parking at the rear of the Property. The current rents are below market offering significant upside by achieving market rates upon lease renewal or re-tenanting. The Property is well located along Bloomfield Avenue (NJ Route 506), the area’s primary commercial and commuter corridor. Positioned in the center of Caldwell, the Property is surrounded by schools, municipal offices, and local and national retailers that drive traffic to the area. Additionally, Bloomfield Avenue is flanked by densely populated residential neighborhoods providing a captive customer base for the Property’s tenants. The Property is located along the municipal bus line and offers convenient access to US Highway 46, Interstates 80 and 280 and the Walnut Street Train Station with service to Manhattan’s Penn Station. Located in Essex County, Caldwell is an affluent suburb of Manhattan and is positioned 22 miles west of the city.

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$649 USD /SF

CAP RATE

6.45%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

23,087 SF

ZONING

B

APN/PARCEL ID

03-00036-01-00096

ASK ABOUT THIS PROPERTY

Mike AgrifolioHorvath & TremblayMore Info
201-215-1811

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Mike AgrifolioHorvath & TremblayMore Info
201-215-1811

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