Current Use by Public Records
- Retail properties & Spaces
Property Details for 10 Metro Blvd
- Year built
- 2024
- Lot size
- 1.05 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 2,828 square foot retail property located at 10 Metro Blvd, Clifton, NJ 07011. The property boasts a 15-year net lease with three, 5-year options, commencing October 31, 2024, and features a triple-net (NNN) lease structure with a corporate guarantee. The building, completed in 2024, sits on a 1.048-acre lot and includes 53 parking spaces. Currently 100% occupied by Starbucks, Dunkin', and Dutch Bros. Coffee, this property generates a strong net operating income (NOI) of $250,000, resulting in a 5.00% cap rate. The asking price is $5,000,000. This prime location along the Route 3 corridor in the Clifton-Nutley border area sees over 100,000 vehicles daily, serving a highly affluent market with average household incomes exceeding $166,000 within a one-mile radius. The property benefits from its strategic placement within the ON3 redevelopment project, one of New Jersey's largest, and is designed to attract consumers from the surrounding local market, future residents, and employees working on campus. The unique, bespoke design of the Starbucks location is architecturally distinct and represents the only Starbucks for 27 miles eastbound on Route 3 from the Lincoln Tunnel. The surrounding community is densely populated, with residents spending an aggregate $1.7 billion annually on food and alcohol within a three-mile radius.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Clifton
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.1416
- Latitude
- 40.8812
