402 Broad Avenue, Palisades Park, NJ 07650
Local realty services provided by:ERA Queen City Realty
402 Broad Avenue,Palisades Park, NJ 07650
$1,749,888
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Pending
Listed by: christian di stasio
Office: prominent properties sotheby's international realty-tenafly
MLS#:26001935
Source:NJ_MLS
Price summary
- Price:$1,749,888
About this home
Ideally positioned on the corner of the town’s main commercial corridor with exceptional foot and vehicular traffic, this well maintained Broad Avenue mixed use building offers a rare investment opportunity. The property is anchored by a Banner Deli & Liquors, a long standing ground floor commercial tenant with over 50 years of continuous operating history (business also available for purchase), providing stable income and strong visibility. The street level commercial space features a full kitchen, customer bathroom, dinning area, retail space and a full basement with dedicated office space, dry and cold storage. (Fixtures/appliances are the property of the tenant). The second floor of the building includes two, 2 bedroom residential apartments with separate entrances. Additional income generation opportunity comes from two static billboard advertising placements, with upside potential through conversion to a digital billboard (subject to municipal approvals and permits). In a cash scenario the property delivers a 6.98% cap rate, with a current monthly rent roll of approximately $12,800, annual gross income of $153,000 and an annual NOI of approximately $139,600 per year. Please note: Seller is retiring and intends to sell the building and comm. business located on the ground level of the property (NJ MLS #26002004) as a package or sell the business prior to closing on the building if separately sold.
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Home facts
- Listing ID #:26001935
- Added:43 day(s) ago
- Updated:March 02, 2026 at 08:30 AM
Finances and disclosures
- Price:$1,749,888
- Tax amount:$11,800
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