117-121 Qumby Street 117 Quimby St
7,020 SF 100% Leased Retail Building Westfield, NJ 07090 $3,750,000 ($534.19/SF)
INVESTMENT HIGHLIGHTS
- Located within Westfield’s Central Business District, and well known for its attractive small-town environment and vibrant downtown shopping
- Westfield NJ Transit Rail Station located two blocks east and within immediate proximity to major highways including RT 22 & 28, GSP, & I-78
EXECUTIVE SUMMARY
BACK ON MARKET - Silbert Realty & Management Company Inc., (“SRM”) has been retained on an exclusive basis by the fee simple owner, to market for disposition the 7,020 SF two story building. The building has achieved long term stabilization and serves a densely populated area with a substantial daytime population. Existing retail tenants include Jos A. Bank Clothiers, The Brick Oven Restaurant. This acquisition is a prime 1031 Exchange and value-added opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
7,020 SF
Year Built/Renovated
1940/2010
Price
$3,750,000
Price Per SF
$534.19
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.88
Lot Size
0.18 AC
Zoning
CBD - Central Business District with permitted uses including retail, personal services, professional services, offices and residential dwellings.
Frontage
76’ on Elm Street
Walk Score®
Walker's Paradise (97)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 20-03116-0000-00006 | Improvements Assessment | $248,400 |
| Land Assessment | $1,937,500 | Total Assessment | $2,185,900 |
