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540 Central AveEast Orange, NJ 07018

High-traffic, 87% occupied retail strip

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 15,202 square foot retail shopping center in East Orange, New Jersey, boasts a prime location on Central Avenue, experiencing over 18,000 vehicles daily. The property features six units, currently 87% occupied by strong national tenants including T-Mobile, Snipes, and Santander Bank (which also leases rear drive-thru space). All leases are NNN with built-in rent increases, generating a strong NOI of $320,829. Built in 1937, this one-story building sits on a 0.48-acre lot and includes 26 rear parking spaces. Recent improvements include a complete sprinkler system and new electrical work in 2013. An additional 2,000 square feet of office space with rear access is available for lease. The property benefits from excellent highway access via I-78, I-280, and the Garden State Parkway, serving a dense population of over 781,000 people within a 5-mile radius. Nearby national retailers include AutoZone, Dunkin' Donuts, KFC, Wells Fargo, Boston Market, McDonald's, Dollar Tree, and Popeye's. This is a rare opportunity to acquire a well-located, income-producing retail property in a thriving urban market.

Highlights

  • 87% occupied retail center in downtown East Orange, NJ.
  • Anchored by T-Mobile, Snipes, and Santander Bank (including rear drive-thru).
  • All NNN leases with built-in rent increases.
  • 26 rear parking spaces.
  • 100% sprinklered building with new electrical work completed in 2013.
  • 2,000 SF of office space available for lease with rear access.

Property Details for 540 Central Ave

Property type
Lifestyle centers, Power centers
Square Feet
15,202 SF
Year Built
1937
Stories
1
Lot Size (sq. ft)
20,909 SF
Units
6

Location Insight

City
East Orange
County
Essex
State
New Jersey
Latitude
40.7603824
Longitude
-74.2224034
540 Central Ave, East Orange, New Jersey

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540 Central Ave
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