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51 Central Ave 6,080 SF 13% Leased Retail Building Passaic, NJ 07055 $1,350,000 ($222.04/SF)
Investment Highlights
- Value add opportunity
- Mixed use building
- Updated HVAC
- Downtown location
- Updated Roof
Executive Summary
The property features two approx. 1,140 sq./ft ground floor retail storefronts and seven second-floor office suites ranging from approx. 170 sq./ft. to 505 sq./ft. with flexible layouts that can be combined for larger professional users.
Both retail storefronts are occupied, with leases approaching renewal, creating an opportunity to reposition rents to current market levels. The second floor offers significant lease up potential, providing a clear path to increasing occupancy and cash flow.
The property has been well maintained and includes an updated flat roof (2019), updated HVAC systems, updated thermostats, a full basement.
A great value add investment with immediate income and substantial upside through lease up and future rent growth.
Property Facts
Amenities
- 24 Hour Access
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Feer Dental Lab
- Health Care and Social Assistance
- -
- -
- -
- Marco Sanchez
- -
- -
- -
- -
- Pilys Fashion
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Feer Dental Lab | Health Care and Social Assistance | - | - | - | ||
| Marco Sanchez | - | - | - | - | ||
| Pilys Fashion | - | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Two highly visible ground-floor retail storefronts available, each approx. 1,140 sq./ft. located along one of Downtown Passaic’s busiest commercial areas. The spaces offer excellent storefront exposure, strong pedestrian traffic and outstanding signage opportunities. Surrounded by established retailers, restaurants, banks, municipal buildings, and neighborhood businesses, this is an excellent location for a wide variety of retail and service-oriented businesses.
Second-floor walk-up office suites in the heart of Downtown Passaic. Available suites range from approx. 176 sq./ft. to 506 sq./ft. and may be leased individually or combined to accommodate larger space requirements. Each suite includes a private restroom. Conveniently located in the active downtown of Passaic with excellent access to restaurants, banks, municipal buildings, public transportation, and street parking.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,140-2,280 SF | Retail | In-Line | Now |
| 2nd Floor | 176-506 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 1,140-2,280 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
2nd Floor
| Size |
| 176-506 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1st Floor
| Size | 1,140-2,280 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Two highly visible ground-floor retail storefronts available, each approx. 1,140 sq./ft. located along one of Downtown Passaic’s busiest commercial areas. The spaces offer excellent storefront exposure, strong pedestrian traffic and outstanding signage opportunities. Surrounded by established retailers, restaurants, banks, municipal buildings, and neighborhood businesses, this is an excellent location for a wide variety of retail and service-oriented businesses.
2nd Floor
| Size | 176-506 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
Second-floor walk-up office suites in the heart of Downtown Passaic. Available suites range from approx. 176 sq./ft. to 506 sq./ft. and may be leased individually or combined to accommodate larger space requirements. Each suite includes a private restroom. Conveniently located in the active downtown of Passaic with excellent access to restaurants, banks, municipal buildings, public transportation, and street parking.
Nearby Major Retailers
Property Taxes
| Parcel Number | 07-04111-01-00043 | Improvements Assessment | $421,100 |
| Land Assessment | $118,900 | Total Assessment | $540,000 |
Property Taxes
Contact the Sale Advisor
51 Central Ave