March 28, 2022 – Michael Lombardi of Horvath & Tremblay has successfully completed the sale of 315 Main Street in Boonton, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $885,000.
315 Main Street is comprised of a three-story mixed-use building with commercial space on the first floor and residential units on the first, second and third floors. The Property is improved by Boonton Thai Cuisine, a popular restaurant occupying the majority of the first floor, and four residential units comprised of two (2), 2-Bedroom/1-Bathroom units and two (2) 3-Bedroom/1-Bathroom units. The building has a total area of 6,100 square feet and is situated on a 0.12-acre parcel of land, with a private garage and parking for three (3) vehicles. The residential units offer large, spacious two- and three- bedroom layouts and are individually metered for electricity and gas. The Property offers convenient access to area shopping, schools, and municipal parks (Boonton Gorge, Halsey A Fredrick Park and Tourne Park). The Property has enjoyed a strong residential operating history with no vacancies for several years. The Property is situated at the intersection of Main Street and Plane Street and is 500 feet from the signalized intersection of Main Street and Myrtle Avenue (US Route 202), the area’s two primary commercial corridors. The Property is surrounded by local retailers and restaurants along Main Street and is in close proximity to national retailers along Myrtle Avenue (US Route 202). The Property is 0.5 miles from Walmart and the Boonton High School and is within 1 mile of the area’s two primary grocery stores (King’s Supermarket & ACME Market) and St Clare’s Hospital. 315 Main Street is 0.1 miles from the Boonton Train Station, connecting the area with midtown Manhattan (Penn Station). The Property also benefits from its proximity to numerous interstates and state highways, including US Route 202 (500 feet), Interstate 287 (0.33-miles), US Route 46 (2.5-miles) and Interstate 80 (3-miles).
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.