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1172 Hamburg Tpke Wayne, NJ 07470

100% Leased Medical Office Complex

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a fully leased, mixed-use property ideally situated at 1172 Hamburg Turnpike in Wayne, New Jersey. The Hamburg Pavilion encompasses 30,810 square feet across two single-story buildings on a 3.23-acre lot, boasting approximately 270 feet of frontage along a high-traffic commercial corridor (23,740 vehicles per day). The property features six tenants, including a strong mix of medical offices (CityMD, Trinity Rehab, Wayne Surgical Center), and service-oriented businesses (pizzeria, laundromat, salon). With a 100% occupancy rate and a weighted average remaining lease term of 4.5 years, this asset offers stable and predictable cash flow. The property benefits from ample surface parking (nearly 6 spaces per 1,000 square feet), recent renovations including façade updates, roof repairs, parking area improvements, and updated lighting and sidewalks. The location within Wayne, NJ, is highly desirable, characterized by a dense and affluent population (average household income nearing $200,000) and proximity to numerous national retailers such as ShopRite, Trader Joe's, Starbucks, and Chipotle. The property's Business District zoning (B) further enhances its long-term value and potential. Built in 1970, this property offers a compelling combination of established tenancy, strong location, and recent capital improvements, making it an attractive investment opportunity.

Highlights

  • 100% leased, mixed-use property with a strong tenant mix including medical offices and service-oriented businesses; 4.5-year weighted average remaining lease term.
  • High-traffic location on Hamburg Turnpike (23,740 VPD) with approximately 270 feet of frontage; nearby national retailers including ShopRite, Trader Joe's, Starbucks, and Chipotle.
  • Recently renovated with updated façade, roof, parking areas, lighting, and sidewalks; ample parking (nearly 6 spaces per 1,000 square feet).

Property Details for 1172 Hamburg Tpke

Property type
Retail properties, Office properties
Square Feet
30,810 SF
Year Built
1970
Buildings
2
Stories
1
Lot Size (sq. ft)
140,699 SF
Units
6

Location Insight

City
Wayne
County
Passaic
State
New Jersey
Latitude
40.961165964171
Longitude
-74.24270419024

FAQs

What type of property is this?
Retail property - 100% Leased Medical Office Complex
Where is the retail property located?
The property is located at 1172 Hamburg Tpke Wayne, NJ.
What are key features of this property?
This property features: 100% leased, mixed-use property with a strong tenant mix including medical offices and service-oriented businesses; 4.5-year weighted average remaining lease term.; High-traffic location on Hamburg Turnpike (23,740 VPD) with approximately 270 feet of frontage; nearby national retailers including ShopRite, Trader Joe's, Starbucks, and Chipotle.; Recently renovated with updated façade, roof, parking areas, lighting, and sidewalks; ample parking (nearly 6 spaces per 1,000 square feet).
How can I contact the broker?
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1172 Hamburg Tpke
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