65 RIVER RD Edgewater NJ 07020

The Subject Property is currently leased to CVS on a NNN ground lease basis, with the base term expiring on January 31,

2035. Rent escalates by 25% at the start of the first option period and by 15% at the start of each subsequent option period. The property is located within the Office and Research (OR-1) District, which primarily accommodates office and research uses. However, recent zoning updates and the borough’s Master Plan indicate a likelihood of securing a variance for alternative uses.

The Edgewater Master Plan highlights the potential for mixed-use and residential development in districts like OR-1. Past zoning decisions have supported residential variances, aligning with Edgewater’s broader vision for redevelopment. These precedents suggest that a variance application for this property would likely be viewed favorably, making the pursuit of a variance for residential or other uses a viable option.

• Along Hudson River Across from New York City

• 9+ Years Remaining in the Base Term with Four 5-Year Options Thereafter

• Rent Escalates 25% at the Start of the First Option, Rent Escalates 15% at the Start of Each Option Thereafter

• Immediately Surrounded by The View West, The View South, The View @ Edgewater, The Pearl & The Oyster Combining for 280 Residential Units and Ground Floor Retail Tenanting a Mix of Local, Regional, and National Tenants

• Shadow Anchored by HomeGoods

• Steps From 115 River Rd, A Massive Current Development of 4 Buildings Ranging From 595 to 714 Feet Tall, Housing 1,919 Residential Units

• Dense and Affluent Area with Over 50,000 People Living Within a Mile Radius of the Property Making an Average Household Income of Over $128,000