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Property profile & analytics
OFF-MARKET Estimated value $1,070,000
Commercial real estate

229 61st St West New York, NJ 07093-2932

5,194 SF 0.11 ac lot Built 1925
Entity Owned 2-yr Hold Free & Clear
Property ID
US59-2041633
Property summary
AI-generated overview

This exceptional West New York commercial property, located at 229 61st St, 07093, offers 3,800 square feet of versatile space ideal for a bar, restaurant, or lounge. The main floor boasts 1,900 square feet of open, adaptable space with high ceilings, perfect for a welcoming dining area or bar. A similarly sized basement (1,900 sq ft) provides ample storage, potential for a prep kitchen, or even an exclusive lower-level dining area. Parking is a significant advantage, with four garage spaces and four outdoor spots included – a rare find in this area. Conveniently situated near major highways and public transportation, this property ensures easy accessibility for customers. The bustling neighborhood offers a diverse demographic, promising a steady stream of potential patrons. The flexible layout and dual-level design cater to various business models, making this a fantastic opportunity to establish a thriving enterprise in a prime West New York location. The property is a single-tenant space, offering complete control and customization.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1925
Construction FRAME
Total area 5,194 SF
Lot 0.11 ac (5,000 SF)
APN 12 00047-0000-00016
UPID US59-2041633
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Splash pad Water Park
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.12M
CAP Approach CAP
$1.32M
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.07M
Owner & transaction history
Reem Properties LLC · 2 yrs held
Reem Properties LLC
since 2023
Last sale
$905,000
3 recorded transactions
2023
$905,000
2008
Price N/A
2003
$10
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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