2024 Center AveFort Lee, NJ 07024

Property Details for 2024 Center Ave

Year built

1982

Construction

TYPE NOT SPECIFIED

Lot size

0.46 AC

Property size (Sq ft)

25,674 SF

Zone code

C1

Property type

Retail properties

Property subtype

Banks

APN

19 04751-0000-00030

APU

1904751000000030

Description

This exceptional restaurant opportunity is located at 2024 Center Ave, Fort Lee, NJ 07024, in Bergen County. The property boasts a substantial 1,391 square feet of space, perfect for a variety of culinary concepts. Situated on a generous 12.5-acre lot, this single-tenant building offers ample room for expansion or outdoor seating. The property's prime location in Fort Lee ensures high visibility and accessibility for customers. The address is easily identifiable and convenient for patrons. This is a single-tenant building, providing the owner with complete control and operational flexibility. The property is currently available for lease and presents a unique chance to establish or relocate a thriving restaurant business in a highly desirable area of New Jersey. The building's size and the expansive lot size offer significant potential for growth and development. The commercial nature of the property makes it suitable for a wide range of restaurant types. This is an excellent opportunity for an established restaurant looking to expand or a new venture seeking a strong foothold in a vibrant market. The property's location in Bergen County provides access to a large and diverse customer base. The property is ready for immediate occupancy, allowing for a swift and efficient transition for the new tenant. This is a rare opportunity to acquire a substantial restaurant property in a prime location.

• CAP approach

  CAP return

  Valuation

  6%

  $6,239,678

  6.5%

  $5,759,703

  7%

  $5,348,296

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,453,503

  Geo Method

  $8,453,503

• Alternative Use

  Use

  Valuation

  Residential

  $4,858,525

  Hospitality

  $4,450,383

  Educational

  $3,702,666

  Medical

  $3,830,006

  Retail

  $5,759,703

Location Insight

City

Fort Lee

County

Bergen

State

New Jersey

Latitude

40.8527

Longitude

-73.9714

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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