Commercial space For Lease in Cresskill, NJ
MLS# : 25043498
PROPERTY DETAILS
PROPERTY DESCRIPTION
Fully renovated multi-tenant office building located at the roundabout of Cresskill, offering excellent exposure, visibility, and signage. This attractive property features five office suites with abundant natural light from large windows throughout and a strong, well-maintained structure. The building was previously used as a bank and has since been converted to high-quality office space. It generates an annual gross income of $225,000 with operating expenses of $65,000, resulting in a strong net operating income of $160,000. All tenants are secured with long-term leases ranging from five to ten years, each with options to extend, providing stable and predictable income. The owner will remain as a tenant on the first floor. The property offers 35 on-site parking spaces, six bathrooms with two located on each floor, and a finished basement currently used by the first-floor tenant. A new fire alarm system has been installed and connected directly to the fire department, and new exterior signage has been approved and installed. Additionally, board approval has been granted to extend the drive-through portion of the building, which will increase rental income on the first floor. This is an exceptional investment opportunity in a prime location with strong cash flow, long-term tenants, and future income upside.
Amenities
This listing is a courtesy of The Agency Rutherford Realty Inc.
201-939-7500 office, listing agent Julia Gulden Dagistanli
About Cresskill, NJ Real Estate Market
According to the 2010 United States Census, the town population was 8,573. The name ‘Cresskill’ originates from the watercress that grew in the town’s kills, a Dutch word for a stream.
During the World War I, Cresskill was a military base known as Camp Merritt and the debarkation point for more than a million American troops who were sent abroad to fight against the Germans. The military base was decommissioned in 1919 and in 1924 a large monument was dedicated to remember and honor those who were stationed at Camp Merritt.
Town amenities include many points of interest, places of worship and recreational facilities such as the Cresskill Municipal Swim Club and the Cresskill Community Center.
| Population: | 8,573 |
| Total Housing Units: | 3,114 |
| Single Family Homes: | 2,723 |
| General Tax Rate (2023): | 2.320% |
| Effective Tax Rate (2023): | 1.832% |
| Compare To Other Towns |
Cresskill Market Indicators
PRICE INDEX
| Average Price* (12mo): | $1,279,542 |
| Homes Sold* (12mo): | 93 |
SINGLE FAMILY HOME SALES
Cresskill, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 2.320% |
| Effective Tax Rate (2023): | 1.832% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
