February 15, 2022 – Mike Lombardi, Hobart Hare and Tom Connor of Horvath & Tremblay have successfully completed the sale of 240 Dayton Avenue in Clifton, New Jersey. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $970,000.
240 Dayton Avenue is a 3,500 square foot, mixed-use building in Clifton, New Jersey. The property is comprised of one retail tenant and two residential units on a 0.06-acre parcel. The mixed-use Property is 100% occupied, Aruba Lounge and Restaurant occupies the entire first floor and the upper floors are improved by a 2-Bedroom/1-Bathroom apartment and a 4-Bedroom/1-Bathroom apartment. Both of the residential units offer large, spacious layouts and are individually metered for heat, hot-water, and electricity. The Property is situated at the intersection of Dayton Avenue and Lake Avenue, offering convenient access to Parker Avenue, one of the area’s primary retail corridors. Additionally, the Property benefits from immediate access to NJ Route 21, which runs along the banks of the Passaic River and provides convenient access to several surrounding towns and cities. 240 Dayton Avenue is 1.5-miles from the Plauderville and Garfield Train Stations and is within 500 feet of numerous public NJ Transit Bus Stops. The Property also benefits from its proximity to numerous interstates and state highways (Interstates 95 and 80) and US Route 46. Clifton is a small bedroom suburb of New York City, located in the heart of Passaic County within the New York metropolitan area. The affluent and densely populated area is 10-miles west of New York City.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.