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3115 State Route 35 3,229 sq ft Retail Property Hazlet, NJ 07730 £1,202,928 (£372.54/sq ft) 6% Net Initial Yield
Executive Summary
Excellent highway property across from Shop-rite and McDonalds. Very good restaurant tenant who has invested very much into the business, offering stability for years to come. Tenant had a preexisting business that moved here so has an established clientele. Long term lease with renewal options with very good annual rent increases. NNN lease with no landlord responsibilities. New photos to be uploaded soon. DO NOT disturb the tenant. Call for viewing.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Property Size
3,229 sq ft
Costar Property Class
C
Year Built/Renovated
1935/2000
Price
£1,202,928
Price per sq ft
£372.54
Yield
6%
NOI
£72,176
Tenancy
Single
Number of Floors
1
Plot ratio
0.12
Total Plot Size
0.64 ac
Use Class
BH - Highway business, all business uses permitted, current use is a Mexican restaurant with outdoor seating.
Parking
24 Spaces (7.43 Spaces per 1,000 sq ft Leased)
Frontage
100 ft on State Route 35
Amenities
- Drive Thru
- Storage Space
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 18-00182-0000-00010 | Improvements Assessment | £120,293 |
| Land Assessment | £444,557 | Total Assessment | £564,850 |
Property Taxes
Parcel Number
18-00182-0000-00010
Land Assessment
£444,557
Improvements Assessment
£120,293
Total Assessment
£564,850
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Presented by
Kal Ganesan
3115 State Route 35
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