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321 Millburn Ave 14,626 SF 100% Leased Retail Building Millburn, NJ 07041 $6,211,844 CAD ($424.71 CAD/SF) 6.65% Cap Rate



INVESTMENT HIGHLIGHTS
- Strong Tenant Mix
- Affluent NYC Suburb
- Strategic Retail Location
EXECUTIVE SUMMARY
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase 321 Millburn Avenue in Millburn, New Jersey (“the Property”). The mixed-use investment Property contains a two-story building with 14,626 square feet of space on a 0.35-acre parcel. 321 Millburn Avenue is currently leased to fifteen (15) tenants and has only one vacancy, which will be master leased upon closing. The tenant-mix offers a wide area of retail businesses and services that cater to the needs of the area residents. The Property is located along Millburn Avenue in the center of Millburn. The Property is a short walk (0.1 miles) from the Millburn Train Station and is within just ½ mile of several national retailers and a variety of local shops and restaurants. The surrounding area features densely populated residential neighborhoods that support consistent traffic, while the Property also benefits from proximity to the area’s primary roadways, the Mall at Short Hills, and nearby office and professional complexes. Positioned in the heart of one of New Jersey’s most affluent and desirable suburban communities, the Property captures both local residents and commuters, offering excellent exposure and access. Its location within a vibrant commercial and residential hub makes it a highly attractive retail destination with strong long-term appeal. Millburn is an affluent residential suburb of New York City. Located in Essex County, Millburn is approximately 20-miles west of Manhattan.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
14,626 SF
Building Class
C
Year Built
1940
Price
$6,211,844 CAD
Price Per SF
$424.71 CAD
Cap Rate
6.65%
NOI
$413,032 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.96
Lot Size
0.35 AC
Frontage
97’ on Millburn Ave
Walk Score®
Very Walkable (86)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-00702-0000-00013 | Improvements Assessment | $2,516,489 CAD |
| Land Assessment | $883,940 CAD | Total Assessment | $3,400,429 CAD |
PROPERTY TAXES
Parcel Number
12-00702-0000-00013
Land Assessment
$883,940 CAD
Improvements Assessment
$2,516,489 CAD
Total Assessment
$3,400,429 CAD
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321 Millburn Ave
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