345 Essex StHackensack, NJ 07601

This exceptional investment opportunity presents a fee-simple, 4,000 square foot retail property located at 345 Essex St, Hackensack, NJ 07601. The property boasts a 5.50% cap rate and a strong net operating income (NOI) of $198,490. Currently 100% occupied by two tenants, Popeyes and InfiniHealth Medical Group, this multi-tenant retail center offers a diversified income stream. The property features a triple-net (NNN) lease structure, meaning tenants are responsible for property taxes, insurance, and common area maintenance (CAM) expenses, minimizing landlord responsibilities. Built in 1986, this 0.34-acre lot is strategically located on a hard signalized corner in a vibrant retail corridor, benefiting from high visibility and accessibility. The property benefits from built-in rent increases, with Popeyes' rent increasing by 2% annually and InfiniHealth Medical Group's rent increasing by 3% annually, providing a hedge against inflation. The location is highly desirable, situated approximately 12 miles from Manhattan, within a densely populated area with an average household income of approximately $113,000 within a 3-mile radius. The property's proximity to Hackensack University Medical Center and easy access to public transportation further enhance its appeal. This is a rare opportunity to acquire a well-performing, multi-tenant retail property in a prime Hackensack location.