326-328 Kearny Ave
Kearny, NJ 07032
Retail Property For Sale
Executive Summary
Located on a high foot traffic location in the center of Kearny NJ. Commercial zoned 4A mixed use three-story brick building consisting of 2 store fronts plus 5 residential 2-bedroom rental units. Rental income can be much higher than current rentals. One second floor residential unit has been renovated projected mo. rental 2,200-2,500 per mo. Each unit includes 1 refrigerator and 1 gas stove that will convey. Lot size is 37.5 X 100. The property being offered includes the building the land the appliances. Current tenants on a mo. to mo. on the residential. One storefront is on an escalation lease. Both storefronts have been renovated as well. $20,000 roof repair and new skylight, $35,000 in upgrades on residential units and $7,000 improvements in common area.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,654 SF
Building Class
C
Year Built
1915
Price
£1,590,960
Price Per SF
£184
Percent Leased
94%
Tenancy
Multiple
Number of Floors
3
Slab to Slab
10 ft
Building FAR
2.21
Lot Size
0.09 AC
Zoning
C-3
Frontage
40 ft on Kearny Ave
Amenities
- Freeway Visibility
PROPERTY TAXES
Parcel Number | 07-00230-0000-00003 | Improvements Assessment | £91,246 |
Land Assessment | £29,832 | Total Assessment | £121,078 |