114 Central Ave
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114 Central Ave
10,600 SF 100% Leased Flex Building Westfield, NJ 07090 $4,400,000 ($415/SF)
Executive Summary
Prominent fully leased and occupied, professionally managed and well maintained two-story mixed-use retail & office building totaling 10,600 SF. Prime corner location which affords outstanding visibility to pedestrians and vehicular traffic within the highly regarded downtown Westfield. The building has achieved long term stabilization and serves a densely populated area with a substantial daytime population. Existing retail tenants include N&C Jewelers, Learning Express Toy, Reves Smoothie Bar, and T-Mobile, while also being situated adjacent Warby Parker, Starbucks, Athleta and Banana Republic along other prominent retailers and restaurants. This acquisition is a prime 1031 Exchange and value add opportunity.
Property Facts
| Price | $4,400,000 | Lot Size | 0.15 AC |
| Price Per SF | $415 | Rentable Building Area | 10,600 SF |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Flex | Year Built | 1952 |
| Building Class | C |
| Price | $4,400,000 |
| Price Per SF | $415 |
| Sale Type | Investment |
| Property Type | Flex |
| Building Class | C |
| Lot Size | 0.15 AC |
| Rentable Building Area | 10,600 SF |
| No. Stories | 2 |
| Year Built | 1952 |
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Walk Score ®
Walker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 20-03106-0000-00013 | Improvements Assessment | $823,800 |
| Land Assessment | $1,920,000 | Total Assessment | $2,743,800 |
PROPERTY TAXES
Parcel Number
20-03106-0000-00013
Land Assessment
$1,920,000
Improvements Assessment
$823,800
Total Assessment
$2,743,800
zoning
| Zoning Code | CBD (Allows for retail sales of goods and personal services.) |
| CBD (Allows for retail sales of goods and personal services.) |
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Christian Harrington -
Joel Tomlinson -
Silbert Realty & Management Co., Inc.
(908) 604-6900
x119
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114 Central Ave
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