402 Broad Avenue
Palisades Park , NJ 07650
MLS#: 26001935
$1,749,888
Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
None
Sq.Footage
N/A
Ideally positioned on the corner of the town’s main commercial corridor with exceptional foot and vehicular traffic, this well maintained Broad Avenue mixed use building offers a rare investment opportunity. The property is anchored by a Banner Deli & Liquors, a long standing ground floor commercial tenant with over 50 years of continuous operating history (business also available for purchase), providing stable income and strong visibility. The street level commercial space features a full kitchen, customer bathroom, dinning area, retail space and a full basement with dedicated office space, dry and cold storage. (Fixtures/appliances are the property of the tenant). The second floor of the building includes two, 2 bedroom residential apartments with separate entrances. Additional income generation opportunity comes from two static billboard advertising placements, with upside potential through conversion to a digital billboard (subject to municipal approvals and permits). The property delivers a 6.98% cap rate, with a current monthly rent roll of approximately $12,800, annual gross income of $153,000 and an annual NOI of approximately $139,600 per year. (excluding any billboard income) An amazing opportunity, don't miss out.
Features & Amenities
Interior
-
Total Bedrooms
N/A
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Bathrooms
N/A
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Pet friendly
N/A
Exterior
-
Garage
No
-
Pool
No
Area & Lot
-
Property Type
Residential Income
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Property Sub Type
Mixed Use
Price
-
Sales Price
$1,749,888
-
Sq. Footage
N/A
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Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
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Middle School
N/A
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High School
N/A
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Location
County
BERGEN
Elementary School
Middle School
High School
Listing Courtesy of Christian C. Di Stasio , Prominent Properties Sotheby's International Realty-Tenafly
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