1 W Columbia Ave, Palisades Park, NJ 07650
1 W Columbia Ave, Palisades Park, NJ 07650Basic Details
- Date added: Added 1 month ago
- Type: Commercial
- Category: For Sale
- Status: Open
Description
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Description:
7,374 SF 100% Leased Retail Building Palisades Park, NJ 07650 $3,499,000 ($474.51/SF) 5.23% Cap Rate
LOCATION! LOCATION! LOCATION! This is a highly visible 6 UNIT (3 retails & 3 residentials) building in a TRIPLE A+ location on the BUSIEST corner of Broad Avenue and Route 46 ramp (Columbia Ave). Very well maintained and great condition building with an attached parking lot with 12 parking spaces. Gas meters and electric meters are all separate and updated. Great shops, restaurants and NYC/NJ bus stop are within short walking distance. Yearly NET income is already great with current modest rent rates, BUT potential for MUCH MORE with current market rent rates. This building is priced extremely well. Come & see!!
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Property Details
- Parking: 12 Spaces (1.63 Spaces per 1,000 SF Leased)
- Area: 7,374 sq ft
- Year built: 1970/2024
- Sale Type: Investment
- Cap Rate: 5.23%
- Building Size: 7,374 SF
- Building Class: C
- Tenancy: Multiple
- Percent Leased: 100%
- Building Height: 2 Stories
- Building Far: 0.89
- Zoning: B-2 - 3 commercial/retail units on 1st floor and 3 residential apartment units on 2nd floor, TOTAL 6 units mixed.
Highlights
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- 6 Units Mixed Property (3 commercial & 3 residential) on Highly Visiable/Heavy Traffic Area
- Great Cap Ratio
- Very Well Maintenied/Great Condition
Property Taxes
- Parcel Number: 45-00617-0000-00019
- Land Assessment: $904,700 (2025)
- Improvements Assessment: $747,500 (2025)
- Total Assessment: $1,652,200 (2025)
Agent
Justin Kang
Good Neighbor Realty
Location
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