245 Main StRidgefield Park, NJ 07660

Property Details for 245 Main St

Year built

1975

Lot size

0.31 AC

Zone code

C1H

Property type

Retail properties

Property subtype

Banks

APN

50 00075-0000-00005- 01

APU

500007500000000501

Description

This exceptional three-story, 22,479-square-foot office building in Ridgefield Park, NJ, presents a unique investment opportunity. Located at 245 Main Street, this single-tenant property sits on a 0.75-acre lot and boasts 28 parking spaces. The building's former use as a bank branch offers distinctive features including a secure vault and two drive-through lanes, ideal for various businesses. Two floors of vacant office space are available, with a potential sale/leaseback option from the owner. The property is zoned B-2 and benefits from a highly desirable location within a thriving retail area, surrounded by high-density residential buildings and a diverse mix of retail establishments, including CVS and 7-Eleven. Main Street's vibrant commercial activity provides excellent visibility and accessibility. The property's proximity to State Highway 46, a major commercial artery, further enhances its strategic value. The Borough Hall is conveniently located within a block, and the nearby Overpeck Park offers recreational amenities. Annual property taxes are $24,068.82. The asking price for this remarkable property is $2,299,000. This is an excellent opportunity to acquire a well-situated commercial property with significant potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,232,121

  6.5%

  $2,983,496

  7%

  $2,770,390

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,378,872

  Geo Method

  $4,378,872

• Alternative Use

  Use

  Valuation

  Residential

  $2,516,691

  Hospitality

  $2,305,276

  Educational

  $1,917,962

  Medical

  $1,983,924

  Retail

  $2,983,496

Location Insight

City

Ridgefield Park

County

Bergen

State

New Jersey

Latitude

40.8586

Longitude

-74.0243

CBSA code

35620

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].