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8,745 SF Gross Leasable | 29,808 SF Lot Size 21-25 Grove Ave 8,745 SF 100% Leased Retail Building Verona, NJ 07044 $1,750,000 ($200.11/SF) 8.57% Cap Rate
INVESTMENT HIGHLIGHTS
- Two Free Standing Retail / Office Buildings
- 10-12 Townhouse Development Opportunity
- Walking Distance to Downtown Verona
- Top Notch Suburban Location Great for Local Owner-users to Invest
- 40+ Car Surface Grade Parking in Rear
EXECUTIVE SUMMARY
Introducing a prime investment or owner-user equity building opportunity in the heart of Verona, NJ. This two building 8,745 SF of space, featuring 2-4 retail or office suite units, presents a compelling proposition for retail and street retail investors. Built in 1906, the property exudes character and charm while offering the advantages of modern zoning, classified under C-2. Situated in the vibrant Northern NJ area, this versatile space is poised for a range of retail endeavors, from boutique storefronts to flagship retail establishments. With its rich history and strategic location, this property is an exceptional prospect for forward-thinking investors seeking a foothold in a dynamic market.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,745 SF
Building Class
B
Year Built/Renovated
1906/2018
Price
$1,750,000
Price Per SF
$200.11
Cap Rate
8.57%
NOI
$150,022
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.30
Lot Size
0.68 AC
Zoning
C-2 - • Zoning C-2 -Professional & medical offices, commercial schools: dance, music & fine art, service businesses, wellness center, spas, salon, day care.
Parking
36 Spaces (4.12 Spaces per 1,000 SF Leased)
Frontage
33’ on Grove Ave
AMENITIES
- 24 Hour Access
- Bus Line
- Signage
- Accent Lighting
- Storage Space
- Air Conditioning
Walk Score®
Very Walkable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 20-01702-0000-00022 | Total Assessment | $803,500 (2025) |
| Land Assessment | $515,300 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $288,200 (2025) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
20-01702-0000-00022
Land Assessment
$515,300 (2025)
Improvements Assessment
$288,200 (2025)
Total Assessment
$803,500 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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8,745 SF Gross Leasable | 29,808 SF Lot Size | 21-25 Grove Ave
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