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Prime location on busy corner of Lexington Ave Passaic, Bordering Clifton in the heart of the business, retail and residential neighborhood . Commercial zone, mixed use retail and light industrial. Great cash flow from existing tenants: carpet wholesaler, deli mart, printing company, plus value-add to lease additional 2nd floor units. Some parking on site. Property consists of 5,702sf. Concrete 2 story building, 11,312 sf, with high ceilings, separate entrances/utilities, overhead door, canopy/awning signage and small front parking area for 6+ vehicles, plus street parking. Great investment opportunity and possible redevelopment. Current income over $75K per year, plus ability to improve to over $100K. Great property for development !
THIS SOLID FOUR LEVEL BUIDING IS ONLY PARTIALLY OCCUPIED, THERE IS A STORE BEEN RENOVATED ON THE GROUND FLOOR WITH A 5 YEAR LEASE, 2ND FLOOR IS BEEN LEASED BY TEH P.A.L. OF PASSAIC, 3RD & 4TH FLOORS ARE VACANT RIGHT NOW. THERE IS A HUGE WORKING FREIGHT ELEVATOR ON THIS BUILDING. MAJOR ELECTRICAL WORK HAS JUST BEEN DONE TO UPDATE IT.
successful carwash on my own land for almost 30 years. 2 carwash building with 4 vaccum machines. inventory separate in sale. low expenses. contact Jvalencia@vanguardfunding.net for commercial loan info. lowest 30% downpayment
Sale leaseback or partial sale leaseback optional.
14% CAP RATE. $86,017 Net Operating Income (NOI). Tenants have NET LEASES and pay their own utilities. Owner pays only water, sewer, and snow removal. 14% CAP RATE with $86,017 Net Operating Income (NOI). 3 RESIDENTIAL APARTMENTS, 1 RETAIL STORE, 1 COMMERCIAL SPACE/STORE. Street-level storefront/retail space rents for $1,200/month. Second floor 1-bedroom residential apartment (above retail store) rents for $1,000/month. First floor 3-bedroom residential apartment rents for $1,350/month. Second floor 5-BEDROOM residential apartment rents for $1,785/month. Store/factory in the rear building rents for $1800/month. PHASE 1 ENVIRONMENTAL completed in 2008. Taxes are $9,303/year.