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AT&T Mixed-Use - 200 Central Avenue, Westfield, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $2,941,000

  • 4,600

  • 6.10%

  • NOI :

  • Acres :

  • $179,444

  • 0.12

  • Property Type :

  • Property Status :

  • Mixed-Use

  • Available

Investment Highlights

TENANT(S)

  • AT&T (NYSE: T) – national, investment-grade telecommunications provider and one of the largest wireless carriers in the United States
  • AT&T has operated at the subject property since 2002, demonstrating exceptional long-term commitment to this irreplaceable Downtown Westfield location
  • Corporate-backed retail tenancy serving a dense, affluent customer base with strong, recurring demand
  • Wolves Den Barbershop – neighborhood-oriented retail service tenant catering to Downtown Westfield and surrounding residential communities
  • One (1) residential apartment located above the retail component, providing diversified income stream


LEASE(S)

  • AT&T subject to a NNN lease expiring in 2033 with one (1) five-year renewal option
  • Scheduled contractual rent increases throughout the lease term, growing from $133,400 in 2026 to approximately $150,800 by 2033 (Average annual rent growth of 1.75%)
  • No landlord exposure to operating expenses under the AT&T lease
  • Wolves Den Barbershop on a gross lease commencing February 2025 and expiring 2030
  • Residential apartment leased on a two-year term expiring August 2027
  • 100% leased mixed-use asset with diversified tenant base


BUILDING

  • 4,600 SF mixed-use building with retail at grade and residential above (three total units)
  • Prominent corner location at the intersection of Central Avenue and North Avenue West
  • Exceptional visibility with traffic counts of approximately 37,500 vehicles per day on Central Ave and North Ave W
  • Convenient access to a municipal parking lot directly behind the property, supporting retail uses


LOCATION/ MARKET

  • Located one block from the Westfield Train Station, offering direct NJ Transit access to Manhattan
  • Positioned in the heart of Downtown Westfield, one of New Jersey’s premier retail and dining districts
  • In close proximity to the new redevelopment of One Westfield Place, a transformative mixed-use project enhancing foot traffic and long-term demand
  • Surrounded by dense retail, restaurant, municipal, and residential uses driving consistent daily traffic
  • Outstanding demographics with 358,848 people within a 5-mile radius and an average household income of $207,847 within one mile