51 Central Ave - Storefront Retail/Office FOR SALE


Passaic, NJ 07055
$1,350,000 USD
973-809-6274
51 Central Ave, Passaic, NJ for Sale
$1,350,000 USD
Storefront Retail/Office - FOR SALE
1/2
null | Request Cap Rate

51 Central Ave
Passaic, NJ 07055


HIGHLIGHTS

  • Value add opportunity
  • Downtown location
  • Mixed use building
  • Updated Roof
  • Updated HVAC

OVERVIEW

Located in the heart of Downtown Passaic, this mixed use building offers an excellent value add investment opportunity along one of the city’s busiest corridors, providing outstanding visibility, strong pedestrian traffic, and excellent vehicle exposure. The property features two approx. 1,140 sq./ft ground floor retail storefronts and seven second-floor office suites ranging from approx. 170 sq./ft. to 505 sq./ft. with flexible layouts that can be combined for larger professional users. Both retail storefronts are occupied, with leases approaching renewal, creating an opportunity to reposition rents to current market levels. The second floor offers significant lease up potential, providing a clear path to increasing occupancy and cash flow. The property has been well maintained and includes an updated flat roof (2019), updated HVAC systems, updated thermostats, a full basement. A great value add investment with immediate income and substantial upside through lease up and future rent growth.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$222 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Restaurant, Loft/Creative Space, Department Store

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,100 SF

ZONING

Commercial

APN/PARCEL ID

07-04111-01-00043

ASK ABOUT THIS PROPERTY

Paul SkiadasKW Town LifeMore Info
973-809-6274

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Paul SkiadasKW Town LifeMore Info
973-809-6274

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.