679 Bloomfield Ave - Storefront Retail/Residential FOR SALE


Verona, NJ 07044
$825,000 USD
973-638-2902
679 Bloomfield Ave, Verona, NJ for Sale
$825,000 USD
Storefront Retail/Residential - FOR SALE
1/8
null | 6.45% Cap Rate

679 Bloomfield Ave
Verona, NJ 07044


HIGHLIGHTS

  • Convenient Location
  • Transit Oriented Location
  • Desirable Residential Units
  • 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 679 Bloomfield Ave, in Verona New Jersey (“the Property”). The Property consists of a two-story mixed-use building containing a total of three (3) units comprised of one (1) commercial unit and two (2) residential units in 2,942 square feet on 0.2-acres of land. The Property is fully occupied and includes a detached garage and on-site parking at the rear of the Property. The current residential 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 Verona, the Property is surrounded by schools, municipal offices, and local retailers and restaurants 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 commercial tenant. The Property is located along the municipal bus line and offers convenient access to US Highway 46, Interstates 80 and 280, the Garden State Parkway and the Walnut Street Train Station with service to Manhattan’s Penn Station. Located in Essex County, Verona is an affluent suburb of Manhattan and is positioned 20 miles west of the city.

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$328 USD /SF

CAP RATE

6.45%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

9,895 SF

ZONING

-

APN/PARCEL ID

20-01607-0000-00043

ASK ABOUT THIS PROPERTY

Marc PrestaHorvath & TremblayMore Info
973-638-2902

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Marc PrestaHorvath & TremblayMore Info
973-638-2902

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