114 Central Ave 10,600 SF 100% Leased Flex Building Westfield, NJ 07090 $6,102,316 CAD ($575.69 CAD/SF)
EXECUTIVE SUMMARY
Prominent 94% leased and occupied, professionally managed and well maintained two-story mixed-use retail & office building totaling 10,600 SF. Prime corner location which affords outstanding visibility to pedestrians and vehicular traffic within the highly regarded downtown Westfield. The building has achieved long term stabilization and serves a densely populated area with a substantial daytime population. Existing retail tenants include N&C Jewelers, Learning Express Toy, Reves Smoothie Bar, and T-Mobile, while also being situated adjacent Warby Parker, Starbucks, Athleta and Banana Republic along other prominent retailers and restaurants. This acquisition is a prime 1031 Exchange and value add opportunity.
PROPERTY FACTS
| Price | $6,102,316 CAD |
| Price Per SF | $575.69 CAD |
| Sale Type | Investment |
| Property Type | Flex |
| Building Class | C |
| Lot Size | 0.15 AC |
| Rentable Building Area | 10,600 SF |
| No. Stories | 2 |
| Year Built | 1952 |
| Zoning | CBD - Allows for retail sales of goods and personal services. |
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Walk Score®
Walker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 20-03106-0000-00013 | Improvements Assessment | $1,141,350 CAD |
| Land Assessment | $2,660,102 CAD | Total Assessment | $3,801,453 CAD |
