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Downtown Millburn Mixed-Use 321 Millburn Ave 14,626 SF 89% Leased Retail Building Millburn, NJ 07041 $4,444,000 ($303.84/SF) 6.53% Cap Rate
Investment Highlights
- All retail leases (5) are NNN while all second floor office suites (11) are gross
- All retail leases have annual rent increases and renewal options
- Several retail leases are below market rent
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
14,626 SF
Building Class
C
Year Built/Renovated
1940/2014
Price
$4,444,000
Price Per SF
$303.84
Cap Rate
6.53%
NOI
$290,367
Percent Leased
89%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.96
Lot Size
0.35 AC
Frontage
97’ on Millburn Ave
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 1,671 SF
- Retail
- -
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,671 SF | Retail | - | Now |
1st Floor
| Size |
| 1,671 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
Walk Score®
Very Walkable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-00702-0000-00013 | Improvements Assessment | $1,790,700 |
| Land Assessment | $629,000 | Total Assessment | $2,419,700 |
Property Taxes
Parcel Number
12-00702-0000-00013
Land Assessment
$629,000
Improvements Assessment
$1,790,700
Total Assessment
$2,419,700
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Downtown Millburn Mixed-Use | 321 Millburn Ave
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