345 Essex St Hackensack, NJ 07601-2048
Property Lookup
Property profile & analytics
345 Essex St Hackensack, NJ 07601-2048
- Commercial real estate
- 4,000 SF
- 0.34 lot acres
Property ID
US59-1494015
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- LenoyMED at Hackensack / Weight Loss Service
- Elite MD Care / Medical Clinic
Property Details for 345 Essex St
- Year built
- 1952
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.34 lot acres
- Property size
- 4,000 SF
- Property type
- Commercial real estate
- APN
- 23 00128-0000-00037
- APU
- 2300128000000037
Description
This exceptional investment opportunity presents a fee-simple, 4,000 square foot retail property located at 345 Essex St, Hackensack, NJ 07601. The property boasts a 5.50% cap rate and a strong net operating income (NOI) of $198,490. Currently 100% occupied by two tenants, Popeyes and InfiniHealth Medical Group, this multi-tenant retail center offers a diversified income stream. The property features a triple-net (NNN) lease structure, meaning tenants are responsible for property taxes, insurance, and common area maintenance (CAM) expenses, minimizing landlord responsibilities. Built in 1986, this 0.34-acre lot is strategically located on a hard signalized corner in a vibrant retail corridor, benefiting from high visibility and accessibility. The property benefits from built-in rent increases, with Popeyes' rent increasing by 2% annually and InfiniHealth Medical Group's rent increasing by 3% annually, providing a hedge against inflation. The location is highly desirable, situated approximately 12 miles from Manhattan, within a densely populated area with an average household income of approximately $113,000 within a 3-mile radius. The property's proximity to Hackensack University Medical Center and easy access to public transportation further enhance its appeal. This is a rare opportunity to acquire a well-performing, multi-tenant retail property in a prime Hackensack location.
Value Estimations
based on Realmo’s proprietary methodology
-
CAP approach
- CAP Return
- Estimation
- 6%
- $930,000
- 6.5%
- $860,000
- 7%
- $795,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $715,000
Market price range: $268k - $716k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $875,000 Current use
- OFFICE BUILDING
- $965,000 Change: +10% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hackensack
- County
- Bergen
- State
- New Jersey
- Longitude
- -74.0582
- Latitude
- 40.883
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$36,426
$975,000
$325,000
$1,300,000
-
$975,000
$325,000
$1,300,000
