Restaurant Building - Popular Area Eatery | 285 Glenwood Ave
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Restaurant Building - Popular Area Eatery 285 Glenwood Ave
6,959 SF Retail Building Bloomfield, NJ 07003 £1,482,531 (£213/SF) 5.90% Net Initial Yield
Investment Highlights
- Heavy Foot Traffic
- Adjacent to NYC Train & Bus Access
- Redevelopment Area
- Popular Restaurant in Business for 5+ years
Executive Summary
283 285 Glenwood Avenue, Bloomfield NJ is a two story, commercial zoned building, with a total area of 6,569 square, and a lot size of 0.24 acres. This property was last renovated in 2017 and offers on-site 10+ parking spaces, with additional parking across the street in a secure municipal parking garage. The property has been occupied for the past 5 years by the current tenant under a Triple/Net lease and provides an excellent investment opportunity. Conveniently located in the heart of a redeveloped area of downtown Bloomfield, with 350 apartments across the street and an additional 600 apartments currently under construction within a 2-block radius. It is located one block away from the NJ Transit Bloomfield Avenue Station providing direct access to Midtown NYC in just 20 minutes. The property has been well maintained and is in good condition. This listing is directly by owner.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
£87,491
|
£12.57
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | £87,491 |
| Annual Per SF | £12.57 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,959 SF
Building Class
B
Year Built/Renovated
1900/2017
Price
£1,482,531
Price Per SF
£213
Net Initial Yield
5.90%
NOI
£87,491
Tenancy
Single
Number of Floors
2
Loading Docks
1 Exterior
Building FAR
0.67
Land Acres
0.24 AC
Zoning
B2 - Central Business District
Parking
10 Spaces (1.44 Spaces per 1,000 SF Leased)
Frontage
68 ft on Glenwood Ave
Amenities
- Restaurant
- Signage
- Tenant Controlled HVAC
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Blue Steel Pizza Company
- Retailer
- 6,959 SF
- £12.25
- Triple Net
- Dec 2027
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Blue Steel Pizza Company | Retailer | 6,959 SF | £12.25 | Triple Net | Dec 2027 |
Walk Score ®
Walker's Paradise (92)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 02-00153-0000-00005 | Improvements Assessment | £957,925 |
| Land Assessment | £283,567 | Total Assessment | £1,241,491 |
PROPERTY TAXES
Parcel Number
02-00153-0000-00005
Land Assessment
£283,567
Improvements Assessment
£957,925
Total Assessment
£1,241,491
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Restaurant Building - Popular Area Eatery | 285 Glenwood Ave
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