(14) Unit | Mixed-use | Investment Sale | Fair Lawn, NJ

Highlights

• (14) Unit Investment Property - (4) Retail Store Fronts & (10) Residential Apartments
• Building Size is approx. 13,469 Sqft on (3) Total Floors (2 Residential; 1 Retail Commercial)
• Lot Size is approx. 8,477 Sqft (survey included w/ 25 deeded parking spaces)
• Cap Rate = 6.71% (w/ parking and storage monetized)
• Value add opportunity to upgrade units and increase rents as they turn over
• Located in an A+ area of Bergen County in a blue ribbon school system
• Located near all Major NJ Highways and just miles from NYC.

Description

The Elia Realty Group (ERG) powered by KW Commercial, are proud to present an exciting new investment sale opportunity in Fair Lawn, NJ. Located just miles from NYC, this mixed-use retail / residential investment is prime for a savvy or novice investor. The property consists of 14 total units, with a breakdown of 4 retail storefront spaces and 10 residential apartments. The building is all brick consisting of approx. 13,469 sqft on three floors and was built in 2007 and has been maintained in excellent condition throughout its ownership lifetime. With ability to consistently escalate rents in an attractive Northern, NJ town, this investment is ready for a buyer looking to purchase on a 1031 exchange, or to park money and watch it grow year over year.

Fair Lawn is a borough in Bergen County, in the U.S. state of New Jersey, and a bedroom suburb located 12 miles (19 km) northwest of New York City. As of the 2020 United States census, the borough's population was 34,927, an increase of 2,470 (+7.6%) from the 2010 census count of 32,457, which in turn reflected an increase of 820 (+2.6%) from the 31,637 counted in the 2000 census.

Fair Lawn was incorporated as a borough by an act of the New Jersey Legislature on March 6, 1924, as "Fairlawn", from portions of Saddle River Township. The name was taken from Fairlawn, David Acker's estate home, that was built in 1865 and later became the Fair Lawn Municipal Building. In 1933, the official spelling of the borough's name was split into its present two-word form as "Fair Lawn" Borough.

Radburn, one of the first planned communities in the United States, is an unincorporated community located within Fair Lawn and was founded in 1929 as "a town for the motor age." Fair Lawn is home to a large number of commuters to New York City, to which it is connected by train from two railroad stations on NJ Transit's Bergen County Line, the Radburn and Broadway stations.

Fair Lawn's motto is "A great place to visit and a better place to live." Fair Lawn has been rated as one of the top 10 best places to live in New Jersey.

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