For Sale
$875,000

198 Market St Elmwood Park, NJ 07407

Three-unit retail center, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
138
Exceptional investment opportunity: This three-unit strip mall, totaling 3,800 square feet, is situated on a 7,500 square foot lot (51x150) in Elmwood Park, New Jersey's vibrant downtown area at 198 Market St, 07407. Built in 1940 and renovated in 2021, the property boasts 100% occupancy with three retail units, each approximately 1,000 square feet. The property features 12 convenient rear parking spaces, ensuring easy customer access. Its prime location on a high-traffic road provides excellent visibility and accessibility to major roadways including Route 80, Route 46, and the Garden State Parkway. The strong rental history contributes to a stable net operating income (NOI) of $56,104, based on a gross income of $73,800 and expenses of $17,696. This single-story building is zoned for commercial use and presents a compelling opportunity for investors seeking a well-maintained, high-traffic retail property in a thriving New Jersey market. The asking price is $875,000.

Highlights

  • Three 1,000 SF retail units.
  • Gross annual income: $73,800.
  • Annual operating expenses: $17,696.
  • Net annual income: $56,104.
  • Downtown Elmwood Park location.

Property Details for 198 Market St

Property type
Lifestyle centers, Power centers
Square Feet
3,800 SF
Year Built/Renovated
1940/2021
Buildings
1
Stories
1
Units
3

Location Insight

City
Elmwood Park
County
Bergen
State
New Jersey
Latitude
40.900848503209
Longitude
-74.123142068781

FAQs

What type of property is this?
Lifestyle center - Three-unit retail center, high NOI.
Where is the lifestyle center located?
The property is located at 198 Market St Elmwood Park, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three 1,000 SF retail units.; Gross annual income: $73,800.; Annual operating expenses: $17,696.
How can I contact the broker?
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198 Market St
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