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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
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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