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2261 South Ave 1,400 SF Retail Building Scotch Plains, NJ 07076 $1,792,280 CAD ($1,280.20 CAD/SF) 4.61% Cap Rate
Investment Highlights
- Free Standing Building
- High Visibility
- Ample Parking
Executive Summary
Business is run as a drop store only. Free standing building. 17 parking spots. Great visibility with 15,000 vehicles per day. Located in an affluent neighborhood and along the bus/train line. Apartment build outs have doubled the towns residence. Organic growth for any establishment. New roof parking lot and ac unit has been added to the property. Potential uses include: Restaurant, Hair Salon, Nail Salon, Medical Office ,Gym, Physical Therapy...Zoned B2..May be leased at $37.00 per sf NNN
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,400 SF
Building Class
C
Year Built
1962
Price
$1,792,280 CAD
Price Per SF
$1,280.20 CAD
Cap Rate
4.61%
NOI
$82,625 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.24 AC
Zoning
B2 retail - Zoned B2 retail ,office, residential
Parking
17 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
55’ on South Ave
Amenities
- 24 Hour Access
- Banking
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 16-08201-0000-00013 | Improvements Assessment | $57,049 CAD |
| Land Assessment | $73,861 CAD | Total Assessment | $130,910 CAD |
Property Taxes
Parcel Number
16-08201-0000-00013
Land Assessment
$73,861 CAD
Improvements Assessment
$57,049 CAD
Total Assessment
$130,910 CAD
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Starlight Cleaners
2261 South Ave
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