For Sale
$875,000

198 Market StElmwood Park, NJ 07407

Three-unit retail center, high NOI.

Overview

Added:
Dec 11, 2024
Days on market:
116
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
198 Market St, Elmwood Park, New Jersey

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198 Market St
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