April 7, 2022 – Reed Blee and Michael Lombardi of Horvath & Tremblay have successfully completed the sale of 24-06 Broadway in Fair Lawn, New Jersey. Horvath & Tremblay represented the seller to complete the transaction at a sale price of $1,800,000.
24-06 Broadway is a mixed-use building located in Fair Lawn, New Jersey. 24-06 Broadway (NJ Route 4) is a two-story commercial building improved by three (3) first floor suites (all leased), and five (5), second floor tenants (all leased). Additionally, the Property has a full basement. More than half of the existing tenants have been at this Property for more than 8 years. The Property has been well maintained and has undergone several capital improvement projects over the last two years including: new rooftop HVAC units, new LED flat panels throughout most of the second floor, new stairs for the rear entrance, an upgraded alarm system, and one of the suites and the common hallway have been gut-rehabbed. The Property is situated 100 feet from the signalized intersection of Broadway (NJ Route 4), one of the area’s primary commercial corridors, and Plaza Road. The Property benefits from outstanding visibility and frontage along the heavily travelled roadway. The Property is 0.3-miles from the Fair Lawn Train Station and is within 500 feet of numerous public NJ Transit Bus Stops (Route 144, 770 & the Route 4 Jitney). The Property also benefits from its proximity to numerous interstates and state highways (Interstate 80, US Route 46, and NJ Routes 17 and 208).
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.