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Mixed-Use

138 North Central Ave Ramsey, New Jersey

138 N Central Ave, Ramsey, NJ 07446

Listing Price: $2,450,000

Cap Rate
5.21%
Gross SF
7,400
Rentable SF
7,400
Price/Gross SF
$331.08
Lot Size
0.48 acres
Year Built
1969

Investment Overview

Marcus & Millichap is proud to exclusively offer for sale a unique approved retail auto wholesale/resale lot located at 138 North Central Avenue in Ramsey, New Jersey. The property is comprised of a 6,000 square-foot mixed-use building situated on .48 acres of land offering seventy-five parking spots. Facility includes a 2,000 square foot mechanic shop, 1,800 square foot of office space, and a 1,200 square foot retail showroom. Mechanic shop includes 14’3” ceiling heights, three 10’ tall bay doors, and three 11’7” hydraulic lifts. Property is currently, occupied by two tenants renting out separate spaces in the building on a modified gross lease and sharing the parking lot. The showroom space is currently rented along with fifty parking spaces to an auto wholesaler for $10,000 a month until April 9, 2022. The mechanic shop and fifteen parking spaces on the lot is currently rented out for $4,500 a month until April 28, 2023. All leases include a clause allowing the owner to terminate the lease with a 60-day prior written notice. The building is currently fitted with an indoor and outdoor camera security system. Property features also include four utility meters, 400-amp power, two gas heaters, a waste oil heater, and a 2019 silver paint coating on the roof. 138 North Central is located less than a mile from downtown Ramsey, two Miles from Mahwah, and five miles from Suffern, New York. Property demographics are excellent being in Northern Bergen County with over 145,298 people with an average household income of $135,940 within a 5-miles radius of the property. Located one mile off Route 17 home to national auto retailers such as McLaren, BMW, Alfa Romeo, Mini Cooper, Mazda, Infiniti, and Lexis. Property is a strong investment opportunity with ability to renovate and re-tenant or rent out as is. This property can also be delivered partially or fully vacant for an owner user looking to be in a highly demanded Bergen County suburb.

Investment Highlights

  • Offers a Mechanic Shop with an Auto Retailer License
  • Comes Complete with a Retail Showroom, Upstairs Offices, and Spacious Mechanic Shop with Three Overhead Bay Doors
  • Will be Delivered Vacant Upon Sale or can be Delivered Partially Tenanted
  • Offer Includes a 50-Car Parking Lot Attached to the Property

Exclusively Listed By

Mixed-Use

138 North Central Ave Ramsey, New Jersey

Listing Price: $2,450,000

Cap Rate
5.21%
Gross SF
7,400
Rentable SF
7,400
Price/Gross SF
$331.08
Lot Size
0.48 acres
Year Built
1969

Investment Highlights

  • Offers a Mechanic Shop with an Auto Retailer License
  • Comes Complete with a Retail Showroom, Upstairs Offices, and Spacious Mechanic Shop with Three Overhead Bay Doors
  • Will be Delivered Vacant Upon Sale or can be Delivered Partially Tenanted
  • Offer Includes a 50-Car Parking Lot Attached to the Property

Investment Overview

Marcus & Millichap is proud to exclusively offer for sale a unique approved retail auto wholesale/resale lot located at 138 North Central Avenue in Ramsey, New Jersey. The property is comprised of a 6,000 square-foot mixed-use building situated on .48 acres of land offering seventy-five parking spots. Facility includes a 2,000 square foot mechanic shop, 1,800 square foot of office space, and a 1,200 square foot retail showroom. Mechanic shop includes 14’3” ceiling heights, three 10’ tall bay doors, and three 11’7” hydraulic lifts. Property is currently, occupied by two tenants renting out separate spaces in the building on a modified gross lease and sharing the parking lot. The showroom space is currently rented along with fifty parking spaces to an auto wholesaler for $10,000 a month until April 9, 2022. The mechanic shop and fifteen parking spaces on the lot is currently rented out for $4,500 a month until April 28, 2023. All leases include a clause allowing the owner to terminate the lease with a 60-day prior written notice. The building is currently fitted with an indoor and outdoor camera security system. Property features also include four utility meters, 400-amp power, two gas heaters, a waste oil heater, and a 2019 silver paint coating on the roof. 138 North Central is located less than a mile from downtown Ramsey, two Miles from Mahwah, and five miles from Suffern, New York. Property demographics are excellent being in Northern Bergen County with over 145,298 people with an average household income of $135,940 within a 5-miles radius of the property. Located one mile off Route 17 home to national auto retailers such as McLaren, BMW, Alfa Romeo, Mini Cooper, Mazda, Infiniti, and Lexis. Property is a strong investment opportunity with ability to renovate and re-tenant or rent out as is. This property can also be delivered partially or fully vacant for an owner user looking to be in a highly demanded Bergen County suburb.

Exclusively Listed By

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