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    712 Nj-17 Paramus, NJ 07652

    Sponsored
    For Sale
    $5,714,000

    Paramus, NJ Retail Opportunity: Strong Tenant, High Traffic

    Property size:
    4,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a 4,000-square-foot LensCrafters storefront in Paramus, New Jersey, situated on a 0.28-acre lot. The property, fully renovated in 2022, boasts a prime location on Route 17, a major commercial artery with high daily traffic volume (94,127 vehicles per day), and enjoys close proximity to the Garden State Parkway (156,930 vehicles daily). The property benefits from its position as an outparcel to the Fashion Center Paramus, sharing a location with prominent retailers such as Amazon Fresh, Best Buy, and TJ Maxx. This single-tenant, net lease property features a 10-year lease (commencing November 15, 2022, and expiring November 15, 2032) with a corporate guarantee from Luxottica of America, Inc., ensuring financial stability. The lease includes rent bumps and offers a strong net operating income (NOI) of $300,000, resulting in a 5.25% cap rate. The asking price is $5,714,000. The property's 17 dedicated parking spaces provide a convenient 4.25 parking spaces per 1,000 square feet. The high-income demographics within a 3-mile radius ($230,124 average household income) further enhance the investment's appeal. This is a 1031 exchange eligible property. The property is less than 18 miles from Downtown NYC. This is a rare opportunity to acquire a high-performing, low-management retail investment with a strong tenant and excellent location.

    Property Features for 712 Nj-17

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,000 SF
    Lot Size
    12,197 SF

    Building Details

    Year Built
    2022

    HighLights

    • Recently renovated 4,000 SF retail space, fully remodeled in 2022, designed for LensCrafters.
    • 4,000 SF space with 17 dedicated parking spaces (4.25/1,000 SF ratio).
    • High‑traffic Route 17 location (96,600 VPD) in Paramus retail corridor.
    • Outparcel to Fashion Center, near TJ Maxx, Best Buy, and Amazon Fresh.
    • Strong customer base driven by nearby healthcare, schools, and retail.
    • High‑income demographics ($230,124 avg. household income within 3 miles).
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Paramus
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0783941
    Latitude
    40.9687526

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    FAQs

    What type of property is this?
    Individual retail property - Paramus, NJ Retail Opportunity: Strong Tenant, High Traffic
    Where is this individual retail property located?
    The property is located at 712 Nj-17 Paramus, NJ.
    What is the asking price?
    The asking price for this property is $5,714,000.
    What are key features of this property?
    This property features: Recently renovated 4,000 SF retail space, fully remodeled in 2022, designed for LensCrafters.; 4,000 SF space with 17 dedicated parking spaces (4.25/1,000 SF ratio).; High-traffic Route 17 location (96,600 VPD) in Paramus retail corridor.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    712 Nj-17 Paramus, NJ 07652
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