501 Wood AveLinden, NJ 07036

This exceptional investment opportunity presents a fee-simple, Class A, 5,569 square foot retail property currently occupied by Northfield Bank under a Net Lease agreement. The property boasts a prime location at 501 N Wood Ave, Linden, NJ 07036, situated on a 0.33-acre lot with 11 parking spaces and a convenient drive-thru. The building features excellent visibility from a signalized intersection. The current lease with Northfield Bank, a strong and stable tenant, expires on February 28, 2029, providing a remaining lease term of approximately 4.3 years. The property generates a substantial Net Operating Income (NOI) of $246,395, resulting in a compelling 7.00% cap rate. The asking price is $3,519,000, translating to a price per square foot of $631.89. The property is 100% occupied and benefits from a single tenancy. Northfield Bank recently renewed its lease for an additional 5 years. The property's strategic location is just 13 miles from Manhattan and is conveniently located just north of Linden's central business district. This is a rare opportunity to acquire a high-quality, net-leased investment property with a strong tenant and significant upside potential. There are no rent bumps included in the lease. The property is suitable for a 1031 exchange. Northfield Bank reported $127,211,000 in deposits as of June 30, 2023.