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Lyndhurst Diner Re-Development Site - 540 Riverside Avenue, Lyndhurst, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $4,200,000

  • 6,600

  • N/A

  • NOI :

  • Acres :

  • N/A

  • 1.07

  • Property Type :

  • Property Status :

  • Retail

  • Under Agreement

Investment Highlights

  • RARE development opportunity at busy Bergen County signalized intersection
  • 1.07 contiguous acres on 3 lots at Riverside Avenue and Kingsland Avenue cross streets
  • High visibility corner just over the DeJessa Bridge which connects Lyndhurst to Belleville/Nutley and Route 21 
  • Other nearest Passaic River crossings are Route 3 (1.1 miles north) and the Belleville Turnpike Bridge (2 miles south)
  • 29,000+ Vehicles/Day @ Intersection of Riverside Avenue and Kingsland Avenue
  • Population of 218,000+ within 3-mile radius of subject property
  • Conveniently located near Route 21, Route 3 and a short drive to Route 17 and I-95
  • Nearby national retailers include Dunkin' , ShopRite, Wendy's, Advance Auto Parts, Walgreens, Stop & Shop, Burger King and Target
  • Liquor License available for an additional $100,000



OFFERING PROCEDURE

All offers due on May 3rd, 2023

Option 1:  All Cash with a 10% deposit - 60-day due diligence period, closing in 90 days - $2,999,000

Option 2:  Development contingency - 60-day due diligence period, 12-month development contingency with carrying costs for real estate taxes and insurance to be paid by buyer during the contingency period.  If the deal closes, the carry that was paid will be credited against the purchase price.  If the deal is terminated, no refund of the carry that was paid.  $4,200,000 


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