144 Main St 6,000 SF Retail Building Fort Lee, NJ 07024 $4,500,000 ($750/SF) 4.27% Cap Rate
INVESTMENT HIGHLIGHTS
- Busy commercial district
- Open plan with exposed brick walls
- Investment opportunity with current restaurant, or ready-made for new restaurant
EXECUTIVE SUMMARY
The building is currently leased to JJ DAK, a chic and sophisticated Korean BBQ restaurant in the heart of Fort Lee, NJ. The lease includes a 5% annual increase in rent, which is currently $16,000/month. The lease extends for another approximately 12 years.
The sale of the restaurant business, including a liquor license, can be negotiated separately.
The sale of the restaurant business, including a liquor license, can be negotiated separately.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,000 SF
Building Class
C
Year Built
1984
Price
$4,500,000
Price Per SF
$750
Cap Rate
4.27%
NOI
$192,000
Tenancy
Single
Building Height
2 Stories
Building FAR
1.15
Lot Size
0.12 AC
Zoning
C1 - Commercial district predominantly residential in character
Parking
4 Spaces (0.77 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- 24 Hour Access
Walk Score®
Walker's Paradise (94)
Bike Score®
Very Bikeable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 19-04351-0000-00001 | Improvements Assessment | $596,200 |
| Land Assessment | $612,000 | Total Assessment | $1,208,200 |
CONTACT
-
Helen Lin - NYC Modern Realty
