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1638-1642 Schlosser St
Fort Lee, NJ 07024

$24,900,000

General Retail For Sale  •  64,716 Sq Ft

Property Details

  • Property Type General Retail
  • Total Building Size 64,716 Sq Ft
  • Lot Size 2.6 ac
  • Building Class A
  • Year Built 2002
  • Cap Rate 8.01 %
  • Tenancy Multiple
  • Zoning C2
56 Transit Score
85 Walk Score

Description

100% leased prime retail "downtown" shopping center at an approximate 8% cap rate.   Estimated NOI of $1,990,000.  Approximately 41 years remaining on ground lease.

Highlights

Covered parking
Located in "heart" of Fort Lee

Financial Summary (Proforma)

Net Operating Income: $1,989,269 (2019)
Cap Rate: 8.01 %
Total Expenses: $1,230,331

Major Tenants

Tenant SF Occupied Lease End Date
Above All Fitness 12,864 SF
Cosmos 4,950 SF
Hudson Wine Market 4,000 SF
K-Pot 5,643 SF
Sprint 2,964 SF
The Meat Bros 8,476 SF

Public Transportation

Commuter RailDriveWalkDistance
Morris Heights Station Commuter Rail (Hudson Line) 8 min - 4.2 mi
Yankees-E 153rd Street Station Commuter Rail (Hudson Line) 10 min - 6.0 mi
AirportDriveWalkDistance
La Guardia Airport 19 min - 11.3 mi
Newark Liberty International Airport 35 min - 20.6 mi
John F. Kennedy International Airport 31 min - 22.6 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 150
Type: Surface
Included in Rent: Yes
Marc Legman 201-461-0400 Legacy Property Group LLC
Marc Legman 201-461-0400 Legacy Property Group LLC