12-56 River Rd, Fair Lawn, NJ 07410
12-56 River Rd, Fair Lawn, NJ 07410Basic Details
- Date added: Added 4 months ago
- Type: Commercial
- Category: For Sale
- Status: Closed
Description
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Description:
14 Unit Apartment Building $4,500,000 ($321,429/Unit) 6.15% Cap Rate Fair Lawn, NJ 07410
The Elia Realty Group (ERG) powered by KW Commercial, are proud to present an exciting new investment sale opportunity in Fair Lawn, NJ. Located just miles from New York City, this mixed-use retail and residential investment is prime for a savvy or novice investor. The property consists of 15 total units, with a breakdown of four (4) retail storefront spaces, an office suite, and ten (10) residential apartments. The building is all brick consisting of approximately 13,469 square feet on three floors and was built in 2007. The property has been maintained in excellent condition throughout its ownership lifetime. With ability to consistently escalate rents in an attractive Northern, NJ town, this investment is ready for a buyer looking to purchase on a 1031 exchange, or to park money and watch it grow year over year.
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Property Details
- Area: 13,469 sq ft
- Year built: 2007/2015
- Sale Type: Investment
- Cap Rate: 6.15%
- No. Units: 14
- Apartment Style: Low-Rise
- Lot Size: 0.19 AC
- Average Occupancy: 100%
- Building Size: 13,469 SF
- Building Class: B
- Property Subtype: Office Office Residential, Apartment, General Retail Storefront Retail/Residential
- Parking Ratio: 1.32/1,000 SF
- Zoning: B-4 - Business
Highlights
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- This exceptional investment provides 15 units of income-producing potential, with 4 retail storefronts, an office suite, and 10 apartments.
- Increased rents now show a 6.32% cap rate, with easy escalations year over year providing a cash-flowing investment with growth potential.
- Positioned on the main thoroughfare of Fair Lawn, the storefronts enjoy heavy retail foot traffic.
- 25 parking spaces are included, providing a convenient option for both residents and retail customers.
Property Taxes
- Parcel Number: 17-05613-0000-00010
- Land Assessment: $742,500
- Improvements Assessment: $1,280,400
- Total Assessment: $2,022,900
Agent
Bruce Elia
KW Commercial Fort Lee
Elvis Durakovic
KW Commercial Fort Lee
Location
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