245 Main St Ridgefield Park, NJ 07660
- Banks
- 0.31 lot acres
Current Use by Public Records
- Gallagher Insurance, Risk Management & Consulting / Insurance Broker / Insurance Agency
- Exact Insurance Agency NJ / Insurance Agency
- MK Valencia Parking (old td bank) / Parking Lot
Property Details for 245 Main St
- Year built
- 1975
- Lot size
- 0.31 lot acres
- Zone code
- C1H
- Property type
- Banks
- APN
- 50 00075-0000-00005- 01
- APU
- 500007500000000501
Description
This exceptional three-story, 22,479-square-foot office building in Ridgefield Park, NJ, presents a unique investment opportunity. Located at 245 Main Street, this single-tenant property sits on a 0.75-acre lot and boasts 28 parking spaces. The building's former use as a bank branch offers distinctive features including a secure vault and two drive-through lanes, ideal for various businesses. Two floors of vacant office space are available, with a potential sale/leaseback option from the owner. The property is zoned B-2 and benefits from a highly desirable location within a thriving retail area, surrounded by high-density residential buildings and a diverse mix of retail establishments, including CVS and 7-Eleven. Main Street's vibrant commercial activity provides excellent visibility and accessibility. The property's proximity to State Highway 46, a major commercial artery, further enhances its strategic value. The Borough Hall is conveniently located within a block, and the nearby Overpeck Park offers recreational amenities. Annual property taxes are $24,068.82. The asking price for this remarkable property is $2,299,000. This is an excellent opportunity to acquire a well-situated commercial property with significant potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,220,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,980,000
- 6.5%
- $2,085,000
- 7%
- $1,735,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,090,000
- Geo Method
- $1,650,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,985,000
- Retail
- $2,235,000
- Mixed-Use
- $2,095,000
- Hospitality
- $2,000,000
- Educational
- $2,180,000
- Residential Income
- $1,865,000
- Energy
- $1,670,000
- Income-Based Land
- $1,970,000
- Food Service
- $1,890,000
Location Insight
- Map
- Local Demand
- City
- Ridgefield Park
- County
- Bergen
- State
- New Jersey
- Longitude
- -74.0243
- Latitude
- 40.8586
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
