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The Gap - 207 East Broad Street, Westfield, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $5,180,000

  • 16,160

  • 7.00%

  • NOI :

  • Acres :

  • $362,553

  • 0.12

  • Property Type :

  • Property Status :

  • Retail

  • Under Agreement

Investment Highlights

  • Rare trophy downtown Westfield, NJ single tenant property fully leased to The Gap, Inc.
  • Property also available for purchase with neighboring property "The Farmhouse" building located at 221 E. Broad Street
  • Recent 5-year lease extension with new lease expiration 01/31/2028
  • Gap, Inc. (NYSE: GPS) is rated BB/Positive outlook by Standard & Poor's
  • Located one block to the Westfield NJ transit train station
  • The Gap has been at this location for nearly 30 years
  • Gap, Inc had $16.7 Billion in revenue in 2021
  • Below market rent – future potential upside
  • Access to rear municipal parking lot
  • Full elevator
  • Many national retailers in town including Wells Fargo, Chipotle, Starbucks, Verizon, T-Mobile, Trader Joe's, PNC Bank, Five Guys, Walgreens, CVS, and Bank of America
  • Incredible demographics with over 346,000 people within 5 miles and an average annual household income over $228,000 within one mile

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