June 24, 2022 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of a two-tenant retail building in Bogota, New Jersey. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $550,000.
The Property is located at 115 Queen Anne Road in Bogota, New Jersey. The Property is improved by a 2,000 square foot building that is 100% leased to Angelo’s Pizza and Revive Salon. Angelo’s Pizza has been in business since 1970 and at the property since 1981, and currently has 3+ years remaining on their lease. Revive Salon has been at the Property since 2015 and has 3+ remaining on their lease, plus one (1), 5-year option at fair market rent. Both leases feature annual rental increases. The Property is well-located along Queen Anne Road in a suburban neighborhood in close proximity to Interstates 80 and 95. The location offers direct access for the residents of densely populated Bogota, and its proximity to major highways makes it convenient for commuters and travelers on the Interstates. Bogota and the Property are 12 miles from Midtown Manhattan.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in 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.