Subject is a Vacant Retail/Office Condo Totaling 2,450 Square Feet Along High Traffic Route 4, Paramus New Jersey, Located on the First Floor of a Four Story Mixed Use Office Building. Perfect for an Owner Occupant or Investor with Large Pylon Signage on Route 4 | Comps at a 7.27% Cap with an Pro Forma NOI of $69,066. Robust, Year-Round Foot Traffic Market | Subject Also Sees Considerable Traffic Counts Along Route 4 (136,191 VPD), New Jersey I-17 (141,271 VPD), and Nearby Garden State Parkway (158,029 VPD) (Source: CoStar, 2022 Estimates). Nearby National Tenants Include Gucci, Zara, Burberry, Nordstrom Rack, Blaze Pizza, AT&T, Starbucks, Target, CVS, GameStop, Qdoba, Whole Foods, Old Navy, Burlington, IKEA, Gap, Nike, Sketchers, GUESS, T-Mobile, Adidas, Red Robin, Abercrombie & Fitch, Macy’s, and Many More. Subject is Located Less Than Three Miles (Five Minutes) From Paramus Park Shopping Mall, Westfield Garden State Plaza, and Bergen Town Center Mall With Over 375 National and Local Retailers Combined.
Subject is 28 Miles Northwest of John F. Kennedy International Airport, The Sixth Busiest Airport in the United States, Serving Over 62 Million Passengers Annually as of 2019 Estimates | 25 Miles North of Newark Liberty International Airport Which Saw 46 Million Passengers in 2019, The Most in it’s History. Subject is Less Than 15 Miles From Manhattan New York Via Car, a 30 Minute Drive or Via Public Transportation, a 35 Minute Commute with a Metro Population of 18.8 Million | The City’s Population Grew by 629,057 Residents (7.7%) Between 2010 and 2020. Affluent New York City Metropolitan Area Community with an Average Household Income of Over $161K within One Mile of the Subject Asset, and a Daytime Population of Over 184K People within 5 Miles.
