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721-731 Chancellor ave
Irvington, NJ 07111
Retail Property For Sale
Investment Highlights
- Heavy Traffic Area
- Near Schools
- Pedestrian Crossing
Executive Summary
Opportunity to acquire a well-positioned six-storefront retail investment located on the corner of Chancellor Avenue in Irvington, NJ. This prominent corner property offers outstanding visibility, excellent signage exposure, and steady vehicle and pedestrian traffic, making it an attractive location for a variety of neighborhood businesses.
The property consists of six retail storefronts with diversified income and long-term investment potential. Its corner location provides maximum exposure from multiple directions, enhancing tenant visibility and customer accessibility. Situated along one of Irvington's established commercial corridors, the property benefits from a dense surrounding residential population, nearby public transportation, and convenient access to the Garden State Parkway, I-78, Newark, and New York City.
The property consists of six retail storefronts with diversified income and long-term investment potential. Its corner location provides maximum exposure from multiple directions, enhancing tenant visibility and customer accessibility. Situated along one of Irvington's established commercial corridors, the property benefits from a dense surrounding residential population, nearby public transportation, and convenient access to the Garden State Parkway, I-78, Newark, and New York City.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,625 SF
Building Class
C
Year Built
1960
Price
$953,000
Price Per SF
$124.98
Cap Rate
8.09%
NOI
$77,135
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.80
Lot Size
0.22 AC
Zoning
B-1 - Zoning: B-1 Neighborhood Business District, permitting a variety of neighborhood retail, service, office, and commercial uses (subject to approvals)
Parking
9 Spaces (1.18 Spaces per 1,000 SF Leased)
Frontage
155’ on Chancellor Avenue
Property Taxes
| Parcel Number | 09-00298-0000-00010 | Improvements Assessment | $695,900 |
| Land Assessment | $340,200 | Total Assessment | $1,036,100 |
Property Taxes
Parcel Number
09-00298-0000-00010
Land Assessment
$340,200
Improvements Assessment
$695,900
Total Assessment
$1,036,100
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