354 State St, Hackensack, NJ 07601

This commercial property, located at 354 State Street in Hackensack, New Jersey, presents a significant investment opportunity within a designated redevelopment zone. Originally constructed in 1950 and updated in 2008, the building encompasses 8,700 square feet across three stories. The property is zoned B-2, offering flexibility for office use and redevelopment potential. It is currently structured with multiple tenancies, contributing to its appeal as an investment asset.

The building boasts a notable cap rate of 7.75%, indicating strong potential for return on investment. Situated in the heart of downtown Hackensack, a city with a rich history dating back to 1665, the location benefits from ongoing revitalization efforts. These include the development of luxury apartment buildings, an expanding array of restaurants and retail establishments, new parks and recreation areas, and a performing arts center. This dynamic environment enhances the property's long-term value and desirability.

Accessibility is a key feature of this property. It offers convenient parking with 25 spaces, equating to approximately 2.87 spaces per 1,000 square feet of leased area. Furthermore, its proximity to major transportation hubs, including a bus terminal on River Street and nearby train stations, facilitates easy commutes to New York City and other urban centers. This strategic positioning makes it an attractive location for businesses and professionals seeking efficient connectivity.

The property's location also caters to the growing trend of remote work, providing a quiet and professional environment for those requiring dedicated office space. Its presence in a thriving downtown area, coupled with its investment metrics and redevelopment potential, positions 354 State Street as a compelling acquisition for owner-users or investors looking to capitalize on Hackensack's ongoing growth and development. Further details regarding additional features and specific offerings are available upon inquiry.