144 Main St
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144 Main St
5,226 SF Retail Building Fort Lee, NJ 07024 $4,800,000 ($918/SF) 4% 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
5,226 SF
Building Class
C
Year Built
1984
Price
$4,800,000
Price Per SF
$918
Cap Rate
4%
NOI
$192,000
Tenancy
Single
Building Height
2 Stories
Building FAR
1.00
Lot Size
0.12 AC
Zoning
C1
Parking
4 Spaces (0.77 Spaces per 1,000 SF Leased)
Frontage
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 |
PROPERTY TAXES
Parcel Number
19-04351-0000-00001
Land Assessment
$612,000
Improvements Assessment
$596,200
Total Assessment
$1,208,200
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NYC Modern Realty
144 Main St
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