36 E Midland Ave
Paramus, NJ 07652
Chase Bank · Office Property For Sale

This Chase Bank is located at 36 East Midland Avenue in Paramus, New Jersey and located just eleven miles from New York City, the most populous city in the United States. Located at the southern tip of the state of New York, the city is the center of the New York metropolitan area, the largest metropolitan area in the world by urban landmass and one of the world's most populous megacities, with an estimated 19,979,477 people in its 2018 Metropolitan Statistical Area and 22,679,948 residents in its Combined Statistical Area. The subject property is well-positioned in an extremely dense commercial corridor, benefitting from its proximity to major national retailers, massive shopping centers, dozens of hotels, and various points of interest. Major national retailers in the area include: Ikea, The Home Depot, T.J Maxx, Macy’s, Burlington, HomeGoods, Ashely Home Store, Bed Bath & Beyond, Dick’s Sporting Goods, AMC Theaters, Best Buy, The GAP, Apple, L.L. Bean, Hollister, and so many more. Hospitality accommodations within immediate proximity to this investment property include Courtyard by Marriott, Hampton Inn, Fairfield Inn & Suites, Hyatt Place, Holiday Inn Express, and many more. The subject investment property greatly benefits from its location in the zip code with the highest retail spending annually. New York City residents are willing to travel the short distance into the suburbs to save money because there’s no sales tax on clothing in New Jersey like there is in New York state. But even without them, Bergen County is home to nearly 1 million people who have a median household income of $94,000, which is 20 percent higher than the state’s median income of $80,000 and a 22 percent higher than the country’s median income of $61,000. Plus, there are about 30,000 students who attend various public and private schools in Paramus. The subject investment property benefits greatly from its robust demographics. There are more than 117,000 people within a three-mile radius of this property, 429,000 within a five-mile radius, and a whopping 1,700,000 people within a ten-mile radius. Additionally, the subject property is located in an extremely affluent area. The average income within a one-mile radius of this property is greater than $160,000. The property is situated between Highway 17 and the Garden State Parkway. These two road boast significant traffic counts of 148,500 and 160,000 vehicles on average, daily. A suburb of New York City, Paramus is located approximately 8 miles west of Upper Manhattan. The Wall Street Journal describes Paramus as "quintessentially suburban". The borough is one of the largest shopping destinations in the country, generating over US $6 billion in annual retail sales, more than any other ZIP Code in the United States.