Log In/Sign Up
Your email has been sent.
LensCrafters 712 N State Rt 17 6,262 SF Retail Building Paramus, NJ 07652 $5,455,000 ($871.13/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- LensCrafters’ net lease covers taxes, insurance, and most property expenses, minimizing landlord responsibilities.
- Corporate Lease Guarantee: The lease is corporately guaranteed by Luxottica of America, Inc., which is owned by EssilorLuxottica
- 10-Year Lease Term: Includes a 10-year initial lease and a 5-year renewal option, offering steady, long-term incom
- EssilorLuxottica demonstrates solid profitability and a diverse portfolio, with LensCrafters serving as one of its flagship brands in North America.
EXECUTIVE SUMMARY
Paramus, New Jersey, located in Bergen County just a few miles from New York City, is one of the highest-grossing retail markets in the United States. Its strategic location near major highways such as the Garden State Parkway and Route 17 ensures accessibility for millions of residents and visitors from both New Jersey and New York. These thoroughfares generate high daily traffic, making Paramus a prime destination for shopping.
Despite Bergen County’s blue laws, which require most retailers to close on Sundays, Paramus consistently ranks among the top retail markets in the country. Retailers adapt by concentrating business on Fridays and Saturdays, resulting in some of the highest retail sales per square foot nationally.
The city’s retail landscape is anchored by four major shopping centers: Westfield Garden State Plaza, Bergen Town Center, Paramus Park Mall, and The Shops at Riverside. Together, they offer a diverse mix of retail—from luxury boutiques to value-oriented outlets—catering to a broad range of consumers.
Paramus benefits from its proximity to affluent suburban communities with high median household incomes. This strong demographic base drives elevated spending across categories such as fashion, electronics, home furnishings, and luxury goods. Bergen County consistently ranks among the highest in disposable income in the state.
Retailers in Paramus remain competitive by embracing innovation, integrating dining, entertainment, and curated experiences to attract and retain shoppers. As a result, the market achieves exceptionally high sales per square foot, particularly at premier destinations like Westfield Garden State Plaza.
Despite Bergen County’s blue laws, which require most retailers to close on Sundays, Paramus consistently ranks among the top retail markets in the country. Retailers adapt by concentrating business on Fridays and Saturdays, resulting in some of the highest retail sales per square foot nationally.
The city’s retail landscape is anchored by four major shopping centers: Westfield Garden State Plaza, Bergen Town Center, Paramus Park Mall, and The Shops at Riverside. Together, they offer a diverse mix of retail—from luxury boutiques to value-oriented outlets—catering to a broad range of consumers.
Paramus benefits from its proximity to affluent suburban communities with high median household incomes. This strong demographic base drives elevated spending across categories such as fashion, electronics, home furnishings, and luxury goods. Bergen County consistently ranks among the highest in disposable income in the state.
Retailers in Paramus remain competitive by embracing innovation, integrating dining, entertainment, and curated experiences to attract and retain shoppers. As a result, the market achieves exceptionally high sales per square foot, particularly at premier destinations like Westfield Garden State Plaza.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,262 SF
Building Class
C
Year Built/Renovated
1948/2022
Price
$5,455,000
Price Per SF
$871.13
Cap Rate
5.50%
NOI
$300,025
Tenancy
Single
Building Height
1 Story
Building FAR
0.40
Lot Size
0.36 AC
Zoning
HCC - Highway Commercial Corridor
Parking
15 Spaces (2.4 Spaces per 1,000 SF Leased)
Frontage
64’ on Rt-17
AMENITIES
- Freeway Visibility
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 46-06101-0000-00001 | Improvements Assessment | $3,617,100 |
| Land Assessment | $566,000 | Total Assessment | $4,183,100 |
PROPERTY TAXES
Parcel Number
46-06101-0000-00001
Land Assessment
$566,000
Improvements Assessment
$3,617,100
Total Assessment
$4,183,100
1 of 13
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
LensCrafters | 712 N State Rt 17
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.