5515 Bergenline Ave
West New York, NJ 07093
Retail Property For Sale

Marcus and Millichap is pleased to present the following investment opportunity in West New York New Jersey with in Hudson County. The offering encompasses a seven-unit mixed used building containing six multifamily units over a single restaurant. The residential units area all box style with five, three-bedroom units and one, two-bedroom unit. All apartments have had their bathrooms renovated with the top unit (unit6) being completely gut renovated. The unit renovations include granite counter-tops, stainless steel appliances and hard wood floors. In addition, the interior hallways have received new flooring and fixtures. Tenants are responsible for their own cooking gas, heating (baseboard) and electricity. Landlord is responsible for cold water and sewer. The Retail tenant, El Farolito, occupies 2,400 square feet on the ground floor. The restaurant has a lease in place until November of 2020 with annual base rents bumps of $150. In addition, the tenant has a five-year renewal option at the end of their lease. Located on Bergenline Avenue, the most active avenue of Hudson County, the property offers investors the opportunity to own a turn key asset in a desirable Hudson County sub-market. Tenants benefit from being within walking distance to many dining and retail options including both local and national retailers. Tenants enjoy easy access to New York City and other destinations in Hudson County via NJ transit Transportation Services. The property is seven blocks from the NJ Light Rail Station allowing tenants to be in Midtown Manhattan within 30 thirty minutes. Furthermore, NJ transit runs six different local and express bus lines along Bergenline Avenue including the 22, 84, 89, 156, 159 & 181.