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Lakeland Auto Parts 1884 Union Valley Rd 9,000 SF 100% Leased Retail Building West Milford, NJ 07480 $1,589,486 ($176.61/SF) 7% Cap Rate
Investment Highlights
- Single-tenant retail investment leased to NAPA Auto Parts.
- Lot size of over 2 acres supports parking and operational efficiency.
Executive Summary
This NAPA Auto Parts property offers a stable, income-generating investment in the heart of West Milford, New Jersey. Currently operating under a net lease structure, the asset provides predictable returns with a 7.0% cap rate. The building encompasses approximately 9,000 square feet on a 2.319-acre parcel, ensuring ample parking and ease of access for customers.
The tenant, NAPA Auto Parts, is an established national automotive parts retailer, providing consistent demand and long-term viability. The original lease term spans seven years, with approximately 3.5 years remaining, and includes two renewal options of five years each, ensuring potential for extended income continuity.
The tenant, NAPA Auto Parts, is an established national automotive parts retailer, providing consistent demand and long-term viability. The original lease term spans seven years, with approximately 3.5 years remaining, and includes two renewal options of five years each, ensuring potential for extended income continuity.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,000 SF
Building Class
C
Year Built
1970
Price
$1,589,486
Price Per SF
$176.61
Cap Rate
7%
NOI
$111,264
Percent Leased
100%
Building Height
1 Story
Building FAR
0.09
Lot Size
2.39 AC
Zoning
N/Av
Parking
35 Spaces (3.89 Spaces per 1,000 SF Leased)
Frontage
292’ on Union Vallley
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 15-06701-0000-00004 | Improvements Assessment | $487,500 |
| Land Assessment | $246,000 | Total Assessment | $733,500 |
Property Taxes
Parcel Number
15-06701-0000-00004
Land Assessment
$246,000
Improvements Assessment
$487,500
Total Assessment
$733,500
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Lakeland Auto Parts | 1884 Union Valley Rd
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