Route 4 Strip Center - 248-252 Broadway, Elmwood Park, NJ 07407

The subject property has 100 feet of frontage on Broadway, which is also known as State Highway 4. A new 64,000 square foot ShopRite is being constructed one block from the subject, revitalizing and bringing new traffic to the immediate area. Other major retailers operating on this corridor include Lidl, Walgreen’s, CVS, and Dunkin’ Donuts. Demographics in the area are excellent with a population of approximately 250,000 people within three miles and an average household income over $98,000 within one mile. In addition to State Route 4, the property is conveniently located minutes from several other major thoroughfares, including the Garden State Parkway, U.S. Interstate 80, U.S. Highway 46, and State Route 17. In addition to easy access by consumers, the location is critical for tenants dispatching representatives in the field. Both NJ Transit train and bus service are also just two blocks away. KW Commercial is pleased to present 248-252 Broadway, a 5,760-square foot, five tenant retail strip center resting on 0.23 acres in Elmwood Park, Bergen County, New Jersey. The property has been owned by the same family for over 60 years, who previously operated a business at the location. The tenant mix represents a variety of services and the property has a high historical occupancy with a current average tenure of 20 years. A few leases are currently below market rent creating upside for a new owner. Investors seeking a value-add property in a dense infill North Jersey market with limited turnover of inventory should consider adding 248-252 Broadway to their portfolio.