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945-949 Clinton Ave 9,999 SF 100% Leased Retail Building Irvington, NJ 07111 $3,140,820 CAD ($314.11 CAD/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Fully renovated in 2023 with modern systems and finishes
- Proximity to Garden State Parkway, I-78 and Irvington Bus Terminal
- Property is 100% Occupied with Waiting List for Apartment Rentals.
EXECUTIVE SUMMARY
Positioned in the heart of Irvington’s revitalizing commercial corridor, 945–949 Clinton Avenue presents a turnkey investment opportunity in one of New Jersey’s most densely populated municipalities. This fully renovated mixed-use asset features six modern apartments above three ground-floor retail units, all 100% leased with market-rate tenants. The 2023 gut renovation ensures minimal maintenance and long-term operational efficiency, with each unit separately metered and retail tenants contributing to real estate taxes.
The residential mix includes three 3-bedroom, 2-bath units and three 2-bedroom, 2-bath units, appealing to both families and professionals seeking quality housing with proximity to Newark and New York City. The retail storefronts are home to established neighborhood businesses, enhancing the property’s stability and community integration.
The residential mix includes three 3-bedroom, 2-bath units and three 2-bedroom, 2-bath units, appealing to both families and professionals seeking quality housing with proximity to Newark and New York City. The retail storefronts are home to established neighborhood businesses, enhancing the property’s stability and community integration.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
9,999 SF
Building Class
C
Year Built/Renovated
1960/2023
Price
$3,140,820 CAD
Price Per SF
$314.11 CAD
Cap Rate
6.50%
NOI
$204,153 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
2.09
Lot Size
0.11 AC
Opportunity Zone
Yes
Zoning
B-C - Urban Enterprise Zone
Frontage
55’ on Clinton Ave
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 09-00205-0000-00031 | Improvements Assessment | $1,234,884 CAD |
| Land Assessment | $331,724 CAD | Total Assessment | $1,566,609 CAD |
PROPERTY TAXES
Parcel Number
09-00205-0000-00031
Land Assessment
$331,724 CAD
Improvements Assessment
$1,234,884 CAD
Total Assessment
$1,566,609 CAD
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945-949 Clinton Ave
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