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BANK OF AMERICA-MOUNTAINSIDE 855 Mountain Ave

7,440 SF Retail Building Mountainside, NJ 07092 $7,108,578 CAD ($955 CAD/SF)

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Investment Highlights

RESIDENTIAL AND COMMERCIAL DEVELOPMENT PROJECT

Executive Summary

Redevelopment project consists of 3 very large lots. The southernmost lot is a residential piece of land that is a 1/2 acre in The Gardens of Westfield. The Gardens is a highly sought after residential neighborhood in Westfield. The middle and northernmost lots consists of a very large parking lot and a 12,000 square foot commercial building that was formerly the Bank of America. This is a very rare opportunity to build a residential home in one of Westfield's most desirable sections and redevelop the most visible property in Downtown Mountainside.

Property Facts

Sale Type

Investment

Sale Condition

Redevelopment Project

Property Type

Retail

Property Subtype

Bank

Building Size

7,440 SF

Building Class

Year Built

1960

Price

$7,108,578 CAD

Price Per SF

$955 CAD

Tenancy

Single

Building Height

2 Stories

Building FAR

0.14

Lot Size

1.24 AC

Zoning

B & RS-12 - 0.5 ACRE RESIDENTIAL LOT IN THE GARDENS OF WESTFIELD. 2 COMMERCIAL LOTS IN MOUNTAINSIDE CONSISTING OF A 12,000 COMMERCIAL BUILDING

Parking

53 Spaces (7.12 Spaces per 1,000 SF Leased)

Frontage

274 ft on Mountain Avenue

PROPERTY TAXES

Parcel Numbers	Multiple 10-00013-0000-00006 10-00013-0000-00007	Improvements Assessment	$1,633,252 CAD
Land Assessment	$1,012,186 CAD	Total Assessment	$2,645,438 CAD