1027 Pompton Ave - Bank FOR SALE


Cedar Grove, NJ 07009
$2,780,000 USD
201-917-5884
1027 Pompton Ave, Cedar Grove, NJ for Sale
$2,780,000 USD
Bank - FOR SALE
1/19
null | 6.99% Cap Rate

1027 Pompton Ave
Cedar Grove, NJ 07009


HIGHLIGHTS

  • Freestanding 7,500 SF commercial asset on a 40,696 SF lot | Price Reduced From $3.5M!
  • Traffic Count of 32,000 Daily | Neighborhood of Cedar Grove ($183,793 Household Income)
  • Upstairs currently for lease | Excellent owner-user opportunity
  • 3,500 SF vacant suite creates immediate value-add potential
  • 25 on-site parking spaces with strong Route 23 visibility
  • Lease includes 3% annual escalations and a 5-year renewal option

OVERVIEW

This investment opportunity offers the chance to acquire a partially leased property with stable income already in place and additional upside through the vacant 3,500 square foot space. The property is currently anchored by Columbia Bank, which is in year 2 of a 5- year lease and pays $16,198.25 per month. The lease includes 3% annual rent increases and a 5-year renewal option, giving the next owner steady cash flow and long-term tenant stability. The bank has a well built out space and a drive through around back making it a strong tenant. The vacant 3,500 square foot space gives a new owner the opportunity to increase income by leasing it to a new tenant or using it for their own business. This makes the property attractive to both investors looking for income with upside and owner-users who want to occupy part of the building while benefiting from the existing bank lease. Overall, this is a strong opportunity with current income, future growth potential, and flexibility.

FOR SALE DETAILS

PRICE

$2,780,000 USD

PRICE/SF

$371 USD /SF

CAP RATE

6.99%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

PRIME Retail Columbia Bank (NNN) | Medical

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,946 SF

ZONING

RC, Cedar Grove Twp.

APN/PARCEL ID

04-00300-0000-00083

ASK ABOUT THIS PROPERTY

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