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43 South Ave 3,877 SF Retail Building Fanwood, NJ 07023 $975,000 ($251.48/SF) 10.68% Cap Rate
INVESTMENT HIGHLIGHTS
- Located in flexible zoning area, permitting office, retail, restaurant, light manufacturing and industrial, arts/creative and live-work uses.
- Ideal for owner-occupants. Owner-investors enjoy significant CAP Rate with minimal expenses. Business-friendly municipality.
EXECUTIVE SUMMARY
Former corporate headquarters for K-9 Resorts. Property ideal for owner-user in medical, retail, creative or co-working space. Located near redevelopment area slated for residential development. Zoning presents multiple included uses. Ample parking in rear for customers and employees, with ample additional street parking.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$135,695
|
$35.00
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$135,695
|
$35.00
|
| Taxes |
$17,530
|
$4.52
|
| Operating Expenses |
$13,995
|
$3.61
|
| Total Expenses |
$31,525
|
$8.13
|
| Net Operating Income |
$104,170
|
$26.87
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $135,695 |
| Annual Per SF | $35.00 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $135,695 |
| Annual Per SF | $35.00 |
| Taxes | |
|---|---|
| Annual | $17,530 |
| Annual Per SF | $4.52 |
| Operating Expenses | |
|---|---|
| Annual | $13,995 |
| Annual Per SF | $3.61 |
| Total Expenses | |
|---|---|
| Annual | $31,525 |
| Annual Per SF | $8.13 |
| Net Operating Income | |
|---|---|
| Annual | $104,170 |
| Annual Per SF | $26.87 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
3,877 SF
Building Class
C
Year Built
2005
Price
$975,000
Price Per SF
$251.48
Cap Rate
10.68%
NOI
$104,170
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.26 AC
Zoning
CC-W - Zoned Light Industrial and located in Fanwood's Commercial Corridor; a mix of personal services, artisan, light industrial, and small manufacturing.
Parking
10 Spaces (2.58 Spaces per 1,000 SF Leased)
Frontage
62’ on South Ave
AMENITIES
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Air Conditioning
- Fiber Optic Internet
Walk Score®
Very Walkable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 05-00055-0000-00007-01 | Total Assessment | $616,400 |
| Land Assessment | $367,300 | Annual Taxes | $17,530 ($4.52/SF) |
| Improvements Assessment | $249,100 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
05-00055-0000-00007-01
Land Assessment
$367,300
Improvements Assessment
$249,100
Total Assessment
$616,400
Annual Taxes
$17,530 ($4.52/SF)
Tax Year
2025
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