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31619572
31619573

361 Kearny Ave, Kearny, NJ 07032

Coldwell Banker Alpine Closter
Listed by Coldwell Banker Alpine Closter
$1,600,000
56 days on market
Updated 30 days ago

361 Kearny St

Details
APN 57 / 14 & 2, 07-00057-0000-00014
Property Type Mixed Use
Square Footage 4,500
Cap Rate 5.58%
NOI $89,234
Tenancy Multi
Pro-Forma Cap Rate 7.45%
Pro-Forma NOI $119,174
Year Built 1957
Stories 1
Lot Size (SqFt) 10,600
Zoning C-3, R-3
Parking Spaces 24 spaces
Parking Per SqFt 5.33
Investment Type Value Add
Ground Lease No

Mixed Use | 5.58% CAP | 4,500 SqFt

Marketing description

Prime Mixed-Use Investment with Redevelopment Potential

Positioned along Kearny’s active main corridor, this distinctive mixed-use property encompasses two contiguous parcels totaling approximately 10,600 SF, offering strong in-place income and exceptional long-term development potential.

The front parcel, 361 Kearny Ave, features a 2,340 SF commercial building currently leased to a successful liquor store operator. The space includes 14-foot ceilings and a full 2,100 SF basement, providing roughly 4,500 SF of total usable area. Zoned C-3 (General Commercial District), the site allows for mixed-use redevelopment up to three stories—ideal for adding residential units above ground-floor retail in one of Hudson County’s fastest-growing markets.

The rear parcel, 328-332 Maple St, is accessible from a quiet residential street. It consists of a 7,500 SF paved parking lot with 24 spaces, of which 19 are currently leased at $200-$300 per month per space, generating $4,200 in monthly income ($50,400 annually). The commercial unit offers additional potential retail income of approximately $6,000 per month.

With dual street access, flexible zoning, established tenancy, and strong cash flow, this property presents a rare opportunity to acquire a high-performing asset with meaningful value-add potential in the heart of Kearny’s evolving commercial district.

Investment highlights

  • PRIME LOCATION ON MAIN CORRIDOR
  • 2 ADJOINED LOTS / 2 STREAMS OF REVENUE
  • STRONG DEVELOPMENT POTENTIAL FOR APARTMENTS OVER RETAIL
  • ALL NEW HVAC (2023)
  • FULL BASEMENT WITH HIGH CEILINGS
  • 24 PARKING SPACES OF WHICH 19 RENTED FOR $2-$300/MONTH WITH WAITLIST @ LOWER THAN MARKET RENTAL RATES
  • INCOME POTENTIAL FOR EXISTING RETAIL $72,000/YR @ MARKET RATE
  • PERFECT FOR OWNER OPERATOR OR INVESTOR

Listing Contacts

Coldwell Banker Alpine Closter
Listed by Coldwell Banker Alpine Closter

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$89,234.00
$7,436.17/mo

Valuation Metrics

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DSCR
5.58%
Cap Rate
5.58%
ROI

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