75-79 Park Ave - Storefront Retail/Residential FOR SALE


Park Ridge, NJ 07656
$1,899,000 USD
201-657-6084
75-79 Park Ave, Park Ridge, NJ for Sale
$1,899,000 USD
Storefront Retail/Residential - FOR SALE
1/37
null | 4.59% Cap Rate

75-79 Park Ave
Park Ridge, NJ 07656


HIGHLIGHTS

  • This turnkey investment provides a 5-unit mixed-use residential and retail facility with multiple lucrative options for growth or reuse.
  • A prime location places tenants within walking distance of the Park Ridge Train Station, and just minutes from top shopping/dining amenities.
  • Value-add potential to revert the building back to six smaller retail spaces or build an additional residential unit to generate additional income.
  • The exceptional corner location receives terrific brand exposure, with great foot traffic and visibility to more than 11,000 cars each day.

OVERVIEW

Discover a one-of-a-kind turnkey mixed-use investment with a phenomenal location at the heart of Park Ridge, New Jersey. Located at 75-81 Park Avenue, this exceptional retail and residential asset offers performing investment with a ±5% cap rate with significant growth potential. This rare offer provides optionality for use as a pure investment, a live-in business, an owner/user space with existing income, or a redevelopment or adaptive reuse project. 75-81 Park Avenue comprises a total of 6,850 square feet across three stories, currently demised into two (2) one-bedroom apartments, a two-story retail store, a retail café, and two (2) commercial office spaces, currently combined and leased to a chiropractor. The building has been expertly maintained, and boasts modern interiors with recessed lighting, high ceilings, plank flooring, exposed brick, and more. A new owner also has the value-add upside to revert units back to six smaller retail storefronts or build an additional residential unit atop the property to generate elevated revenue. 75-81 Park Avenue’s premier corner location sits on the most desirable, eye-catching lot in downtown Park Ridge, with robust foot traffic and prominent visibility to over 11,000 daily vehicles delivering unmatched brand exposure to businesses. The building is surrounded by new residential and commercial developments, reinforcing the area’s desirability and growth potential. The staller location is adjacent to the iconic Park Ridge train station, providing direct service to New York City’s Penn Station. This beautiful, peaceful setting is juxtaposed by fantastic access to shopping and dining amenities, including a Wegman’s grocery, top-rated local restaurants, and numerous household name retail locations. Empower a growing investment portfolio with a highly versatile mixed-use residential and retail space offering exceptional growth potential at 75-81 Park Avenue.

FOR SALE DETAILS

PRICE

$1,899,000 USD

PRICE/SF

$237 USD /SF

CAP RATE

4.59%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mixed-Use

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Restaurant, Storefront, Medical

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,116 SF

ZONING

NB

APN/PARCEL ID

47-01513-0000-00005

ASK ABOUT THIS PROPERTY

Angela CucinielloANGELA CUCINIELLOMore Info
201-657-6084

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

Angela CucinielloANGELA CUCINIELLOMore Info
201-657-6084

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