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1149 Main Ave

2,400 SF 46% Leased Retail Building Clifton, NJ 07011 $825,000 ($344/SF) 5.09% Cap Rate

Executive Summary

Newly renovated and centrally located at the highly visible four-corner intersection of Clifton Ave and Main Ave, this commercial building is a gem in the heart of Downtown Clifton. The ground level currently houses an established nail salon, featuring a spacious service room, a private room, a utility room, a half bath, and convenient access to the basement. The just-renovated second level is vacant and offers flexible leasing options. It can be divided for multiple tenants or leased by a single tenant, featuring four brand-new office rooms, brand new full bath, and an additional brand new half bath. The entire interior has been upgraded including new lighting, flooring, HVAC system, and more, ensuring a modern and comfortable environment. Each level has separate utilities, providing ease for multiple tenants. Free municipal parking is available directly across the street, and a bus stop is conveniently located right outside the building. Surrounded by shops, restaurants, and businesses, this property offers unmatched accessibility and visibility. A MUST SEE for anyone looking to establish or expand their business in a thriving location or simply own as an investment property.
Ground Floor Nail Salon tenant approx. 1,300 SF and basement, has 5 year rental agreement: First year as of Oct 1, 2023 rent $2,700, then 5% increase and any increase in common area expenses each year.

Financial Summary (Pro forma - 2024)

Annual Annual Per SF
Gross Rental Income $60,000 $25.00
Other Income - -
Vacancy Loss - -
Effective Gross Income $60,000 $25.00
Taxes $11,321 $4.72
Operating Expenses $7,500 $3.13
Total Expenses $18,821 $7.84
Net Operating Income $41,179 $17.16

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual $60,000
Annual Per SF $25.00
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $60,000
Annual Per SF $25.00
Taxes
Annual $11,321
Annual Per SF $4.72
Operating Expenses
Annual $7,500
Annual Per SF $3.13
Total Expenses
Annual $18,821
Annual Per SF $7.84
Net Operating Income
Annual $41,179
Annual Per SF $17.16

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
2,400 SF
Building Class
C
Year Built
1870
Price
$825,000
Price Per SF
$344
Cap Rate
5.09%
NOI
$42,000
Percent Leased
46%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.84
Lot Size
0.03 AC
Zoning
B-C - Central Retail business district
Frontage
74 FT on Clifton Ave & Main Ave

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Choice Nail
  • Retailer
  • 1,300 SF
  • $25.00
  • Plus All Utilities
  • -
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Choice Nail Retailer 1,300 SF $25.00 Plus All Utilities -
Walk Score ®
Walker's Paradise (92)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Crown Bank
PNC Bank
SuperFresh
TD Bank
Rent-A-Center
ALDI
Surf City Squeeze
Blimpie
Sunbelt Rentals
ShopRite

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
02-00012-04-00010
Land Assessment
$58,500
Improvements Assessment
$136,900
Total Assessment
$195,400
Annual Taxes
$11,321 ($4.72/SF)
Tax Year
2024
  • Listing ID: 32962549

  • Date on Market: 8/26/2024

  • Last Updated:

  • Address: 1149 Main Ave, Clifton, NJ 07011

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