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Listed by Jose Estrada Mr. Sold Realty Group, LLC
$1,475,000
Est. payment /mo
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26032931
Style Retail
Property Sub-Type Retail
Property Description
The property is subject to a 20-year lease with 19 years remaining. The restaurant operates under a triple-net (NNN) lease structure, with the tenant responsible for water, repairs, and 33% of the property taxes. The restaurant tenant has operated a highly successful restaurant business for more than 10 years across multiple locations, providing a strong and established tenancy. The property consists of four well-maintained 2-bedroom apartments in good condition, in addition to the restaurant space + basement. The residential units are rent-controlled, with annual rent increases of 3% or the maximum increase approved by the municipality, as applicable. The restaurant lease also provides for a 3% annual rent increase. This property offers a combination of long-term commercial tenancy, established restaurant operations, four residential units, and built-in annual rent growth.
Location
State NJ
County Hudson
Interior
Heating Gas
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