High Density Retail Near NYC 540-548 Central Ave

540-548 Central Avenue is a strategically located retail center offering 15,202 rentable square feet along one of East Orange's busiest commercial corridors. This single-story retail asset is currently 87% occupied, presenting an attractive value-add opportunity for investors or a prime location for owner use. Anchored by T-Mobile, the property benefits from triple-net NNN leases with built-in rental increases for all tenants. Additionally, Santander Bank, the adjacent tenant, pays for the use of a bank drive-thru at the rear of the property. Positioned within an Opportunity Zone, this asset provides substantial tax incentives, enhancing its appeal to investors and owners/users. The property also features prominent building signage, off-street parking, new electrical systems, and more, making it a cash-flowing asset with significant potential for lease-ups and rate increases.

540-548 Central Avenue is a densely populated area with 791,884 residents within a 5-mile radius, contributing to a robust annual consumer spending of $8 billion. The property is also located within a major daytime employment hub, with 313,042 working professionals in the surrounding area. This prime location offers high foot traffic and visibility, which is crucial for retail and office tenants looking to tap into the area's vibrant commercial activity. Central Avenue's location, right off the Garden State Parkway and Interstate 280, ensures easy accessibility, with nearly 20,000 vehicles passing daily through the signalized intersection of Sanford Street and Central Avenue. The property is surrounded by nationally recognized retailers, including AutoZone, Dunkin', KFC, Wells Fargo, Boston Market, McDonald's, Dollar Tree, and Popeye's, further enhancing its commercial appeal.

Located in East Orange, a city known for blending urban and suburban living, this property benefits from excellent transit access, major commercial corridors, and historic green spaces. Dubbed The Crossroads of New Jersey, East Orange is strategically positioned just outside Newark, at the intersection of the Garden State Parkway and Interstate 280. It is only 7 miles from Newark Liberty International Airport and about 30 minutes from New York City, making it a prime location for businesses and commuters. The Urban Essex retail submarket, where this property is located, boasts a low vacancy rate of 3.4%, down 0.4% from the previous year. Rents in this submarket have increased by 6.4% over the past three years, outperforming the Northern New Jersey market average of 6.3%. This offering presents a unique opportunity to invest in a thriving market with strong growth prospects, making 540-548 Central Avenue a valuable addition to any investment portfolio.