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260 North Ave E - Availability Details

260 North Ave E, Westfield, NJ 07090

  • For Lease Contact for pricing
  • City Westfield
  • Neighborhood Downtown Westfield
  • Zip Code 07090
  • Market New Jersey
  • Property Type Retail
  • Property Size 23,260 Sqft
  • Lot Size 1.44 Acre
  • Property Tenancy Multi-Tenant
  • Date Updated 08 Mar, 2021

100% OCCUPIED, NO NEGATIVE COVID ISSUES, CURRENT NOI: $1,084,315


2 Free standing retail buildings with a large shared parking lot (parking lots very rare for this area). 1 Building is fully occupied by Walgreens with 23,424 SF and a corporate guarantee expiring in 2030 and paying below market rent for such a strong store.
Building 2 has 7,800 Sq. Feet with 5 stores with local retailers including National store Supercuts. All leases including Walgreens are NNN. Property was repainted with new awnings, and lot being blacktopped and re-striped after winter.

Prime Westfield, New Jersey, right in the middle of town. Very high average household income and strong demographics. Property has very large frontage. HUGE DEVELOPMENT OPPORTUNITY when Walgreens expires in 2030.

PRICE REDUCED TO 19.875 MILLION -- 5.5% CAP RATE !!!

Please inquire for more info

Josh Goldflam at 646-546-5880 or Jg@highcapgroup.com

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Contacts

broker

Lynn Granger

Highcap Group

Contact Listing Broker

broker

Lynn Granger

Highcap Group

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