1149 Main Ave
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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.
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)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 02-00012-04-00010 | Total Assessment | $195,400 |
Land Assessment | $58,500 | Annual Taxes | $11,321 ($4.72/SF) |
Improvements Assessment | $136,900 | Tax Year | 2024 |
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
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1149 Main Ave
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