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65 River Rd 13,361 SF Retail Building Edgewater, NJ 07020 $9,200,000 ($688.57/SF) 6.58% Cap Rate
Investment Highlights
- Along Hudson River Across from New York City in a Dense and Affluent Area with Over 50,000 People Living Within a Mile Radius of the Property Making a
- Rent Escalates 25% at the Start of the First Option, Rent Escalates 15% at the Start of Each Option Thereafter
- Shadow Anchored by HomeGoods
- 9 Years Remaining in the Base Term with Four 5-Year Options Thereafter
- Immediately Surrounded by The View West, The View South, The View @ Edgewater, The Pearl & The Oyster Combining for 280 Residential Units and Ground F
- Steps From 115 River Rd, A Massive Current Development of 4 Buildings Ranging From 595 to 714 Feet Tall, Housing 1,919 Residential Units
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,361 SF
Building Class
B
Year Built
2010
Price
$9,200,000
Price Per SF
$688.57
Cap Rate
6.58%
NOI
$605,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
1.04 AC
Zoning
OR-1 - Recent zoning updates, past zoning decisions and Edgewater's Master Plan indicate a likelihood of securing a variance for alternative uses.
Parking
56 Spaces (4.19 Spaces per 1,000 SF Leased)
Frontage
86’ on River Rd
Amenities
- Tenant Controlled HVAC
- Drive Thru
- Air Conditioning
Walk Score®
Very Walkable (77)
Nearby Major Retailers
Property Taxes
| Parcel Number | 13-00099-0000-00001-08 | Improvements Assessment | $3,090,300 |
| Land Assessment | $2,607,300 | Total Assessment | $5,697,600 |
Property Taxes
Parcel Number
13-00099-0000-00001-08
Land Assessment
$2,607,300
Improvements Assessment
$3,090,300
Total Assessment
$5,697,600
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65 River Rd
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