8,745 SF Gross Leasable | 29,808 SF Lot Size 21-25 Grove Ave 8,745 SF 100% Leased Retail Building Verona, NJ 07044 $2,422,228 CAD ($276.98 CAD/SF) 8.57% Cap Rate
INVESTMENT HIGHLIGHTS
- Two Free Standing Retail / Office Buildings
- 10-12 Townhouse Development Opportunity
- Walking Distance to Downtown Verona
- Top Notch Suburban Location Great for Local Owner-users to Invest
- 40+ Car Surface Grade Parking in Rear
EXECUTIVE SUMMARY
Introducing a prime investment or owner-user equity building opportunity in the heart of Verona, NJ. This two building 8,745 SF of space, featuring 2-4 retail or office suite units, presents a compelling proposition for retail and street retail investors. Built in 1906, the property exudes character and charm while offering the advantages of modern zoning, classified under C-2. Situated in the vibrant Northern NJ area, this versatile space is poised for a range of retail endeavors, from boutique storefronts to flagship retail establishments. With its rich history and strategic location, this property is an exceptional prospect for forward-thinking investors seeking a foothold in a dynamic market.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
8,745 SF
Building Class
B
Year Built/Renovated
1906/2018
Price
$2,422,228 CAD
Price Per SF
$276.98 CAD
Cap Rate
8.57%
NOI
$207,650 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
0.30
Lot Size
0.68 AC
Zoning
C-2 - • Zoning C-2 -Professional & medical offices, commercial schools: dance, music & fine art, service businesses, wellness center, spas, salon, day care.
Parking
36 Spaces (4.12 Spaces per 1,000 SF Leased)
Frontage
33’ on Grove Ave
AMENITIES
- 24 Hour Access
- Bus Line
- Signage
- Accent Lighting
- Storage Space
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Introducing a prime investment opportunity in the heart of Verona, NJ. This two building 8,745 SF of space, featuring 2 units, presents a compelling proposition for retail and street retail investors. Built in 1906, the property exudes character and charm while offering the advantages of modern zoning, classified under C-2. Situated in the vibrant Northern NJ area, this versatile space is poised for a range of retail endeavors, from boutique storefronts to flagship retail establishments. With its rich history and strategic location, this property is an exceptional prospect for forward-thinking investors seeking a foothold in a dynamic market.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,000-8,745 SF | Retail | - | 30 Days |
1st Floor
| Size |
| 1,000-8,745 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| 30 Days |
Walk Score®
Very Walkable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 20-01702-0000-00022 | Total Assessment | $1,121,140 CAD (2024) |
| Land Assessment | $719,008 CAD (2024) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $402,131 CAD (2024) | Tax Year | 2023 |
