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65 River Rd 13,361 sq ft Retail Property Edgewater, NJ 07020 £6,879,533 (£514.90/sq ft) 6.58% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Along Hudson River Across from New York City in a Dense and Affluent Area with Over 50,000 People Living Within a Mile Radius of the Property Making a
- Rent Escalates 25% at the Start of the First Option, Rent Escalates 15% at the Start of Each Option Thereafter
- Shadow Anchored by HomeGoods
- 9 Years Remaining in the Base Term with Four 5-Year Options Thereafter
- Immediately Surrounded by The View West, The View South, The View @ Edgewater, The Pearl & The Oyster Combining for 280 Residential Units and Ground F
- Steps From 115 River Rd, A Massive Current Development of 4 Buildings Ranging From 595 to 714 Feet Tall, Housing 1,919 Residential Units
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Standalone
Property Size
13,361 sq ft
Costar Property Class
B
Year Built
2010
Price
£6,879,533
Price per sq ft
£514.90
Yield
6.58%
NOI
£452,404
Tenancy
Single
Number of Floors
1
Plot ratio
0.29
Total Plot Size
1.04 ac
Use Class
OR-1 - Recent zoning updates, past zoning decisions and Edgewater's Master Plan indicate a likelihood of securing a variance for alternative uses.
Parking
56 Spaces (4.19 Spaces per 1,000 sq ft Leased)
Frontage
86 ft on River Rd
AMENITIES
- Tenant Controlled HVAC
- Drive Thru
- Air Conditioning
Walk Score®
Easily Walkable (77)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 13-00099-0000-00001-08 | Improvements Assessment | £2,310,850 |
| Land Assessment | £1,949,675 | Total Assessment | £4,260,525 |
PROPERTY TAXES
Parcel Number
13-00099-0000-00001-08
Land Assessment
£1,949,675
Improvements Assessment
£2,310,850
Total Assessment
£4,260,525
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65 River Rd
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