221 Broad St
Summit, NJ 07901
Retail Property For Sale

CBRE is pleased to present 221 Broad Street, Summit, Union County, New Jersey. The property consists of a 1,595-square foot, single-tenant, retail building located at the signalized intersection with Ashwood Avenue. Summit Avenue is a primary corridor. The subject is just two miles from Interstate 78 and approximately one mile from Summits prestigious downtown. Summit is consistently ranked in the top 20 places to live in New Jersey and is conveniently situated just 20 miles from Manhattan. The subject property has continuously operated as a retail store since it was constructed by the current owner, over 50 years ago. The tenant’s retirement creates a rare opportunity for a new operator to enter this market. The property has been well maintained, including recent upgrades, and pride of ownership is evident. In addition to the front parking lot with ingress/egress from both, Broad Street and Ashwood Avenue, there is a rear driveway accessible from Park Avenue. The property has 129 feet of corner frontage offering businesses excellent visibility. The property is easily accessible to both vehicular and pedestrian traffic. A limited number of properties transact in this market, and the demographics combined with the location should appeal to a variety of businesses. Both users and investors with tenants in tow, should consider adding 221 Broad Street to their portfolio. *Property is vacant. Gross Rent, NOI and Cap Rate are pro forma based on market rent of $35/square foot.