About 253-255 Degraw Ave
Seize the opportunity to own two side-by-side mixed-use properties in the heart of Teaneck, New Jersey. These well-positioned buildings present a rare chance to acquire significant real estate assets in a bustling commercial district. Currently yielding a 6.81% cap rate, these properties offer substantial upside potential with projected rents that could increase the cap rate to approximately 9.85%.Both properties feature a blend of retail and residential units, creating a balanced income stream that leverages Teaneck's dynamic market dynamics. The commercial spaces are ideally suited for high-traffic businesses seeking visibility and accessibility, while the residential units appeal to a steady rental market, ensuring continuous occupancy.Invest in a location that stands the test of time, offering both immediate returns and long-term growth potential. These legacy buildings represent more than just an investment; they are a cornerstone for future generations to build upon.Ideal for savvy investors looking to expand their portfolio with stable, high-yield assets, these properties promise not only financial rewards but also the opportunity to own a part of Teaneck's vibrant community. Don't miss out on this incredible investment opportunity to buy into a location and legacy that will deliver returns for years to come.
Features of 253-255 Degraw Ave
MLS® # | 3896884 |
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Price | $899,999 |
Square Footage | 4,000 |
Acres | 0.09 |
Year Built | 1925 |
Type | Commercial |
Status | Active |
Community Information
Address | 253-255 Degraw Ave |
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City | Teaneck Twp. |
County | Bergen |
State | NJ |
Zip Code | 07666-3205 |
Amenities
Utilities | Gas In Street |
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Parking Spaces | 4 |
Parking | None |
Interior
Heating | Gas-Natural |
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# of Stories | 2 |
Has Basement | Yes |
Basement | Full, Unfinished |
Exterior
Exterior | Brick |
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Roof | Rubberized |
Additional Information
Date Listed | April 18th, 2024 |
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Days on Market | 15 |
Zoning | B1 |
Listing Details
Office | REALTY ONE GROUP PARAMOUNT |
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Office Contact | 201-347-3255 |