513-300-0763
521-523 Washington St
Newark, NJ 07102
South Broad Street
HIGHLIGHTS
- Please contact Michael Sherman at (631)235-9741 or email at Michael@baselinerealestate.com for any questions in regard to the offering.
- NNN single tenant Guaranteed lease with government backing for this 38-bed multifamily asset operating as a VA rehabilitation facility.
- Excellent location 1 mile to Downtown Newark, Penn Station, and I-95 accessibility and 4.3 miles from the East Orange VA Hospital.
- Strong investment with a NNN lease through October 2028 with annual in-place increases, allowing for high NOIs.
- Tenant is on their second five year term, the VA contract is for 5 years and tenant can only sign lease for duration of VA contract.
- Extremely high probability of renewal as it is very hard to get sites approved by the VA.
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
NNN-Leased MF Building | Strong VA Tenancy
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1915
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.09 AC
LAND SF
3,746 SF
ZONING
-
APN/PARCEL ID
14-00122-0000-00043
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513-300-0763
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513-300-0763
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