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Property profile

216 Old Tappan Rd Old Tappan, NJ 07675

OFF-MARKET
Commercial real estate
Property ID
US59-1762515
View Sample
18,550 SF 5.15 ac lot
Entity Owned 11-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

Bi-State Plaza, located at 216 Old Tappan Road in Westwood, New Jersey (zip code 07675), offers a prime retail opportunity in Bergen County. This established shopping center boasts a total of 89,000 square feet of retail space, with a significant 53,417 square feet currently available for lease. The property is categorized as a multi-tenant shopping center, providing flexibility for businesses of various sizes. Units range from a minimum of 1,125 square feet to a maximum contiguous space of 33,592 square feet, catering to a wide spectrum of retail needs. Ample parking is provided, with a ratio of 5 spaces per 100 square feet of building area. The center's address is conveniently situated in Westwood, within Bergen County, offering excellent access to major transportation routes and a strong local customer base. This presents a unique chance to establish or expand a retail presence in a thriving New Jersey community. The property is classified as retail and is ideal for businesses seeking a well-established location with significant visibility and ample parking. The available space offers considerable potential for a variety of retail concepts. Interested parties are encouraged to inquire about lease terms and availability.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Total area 18,550 SF
Lot 5.15 ac (224,160 SF)
APN 43 01606-0000-00006
UPID US59-1762515

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.98M
Comparable Approach Comparable
$4.12M
Blend (final) Blend
$4.07M

Owner & transaction history

since 2014
2 recorded transactions
2014
Price N/A
2012
Price N/A

Zoning & alternative use

Top alternative use upside
Apartment house (5+ units) $6.1M +12.2%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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