Commercial space For Lease in Palisades Park, NJ
MLS# : 25001554
Street : 1 W Columbia Avenue
Price : $3,390,000
Town : Palisades Park, NJ 07650
Annual Taxes : $31,802
PROPERTY DETAILS
Use : Retail
Utilities : Sep Elec, Sep Gas, Seperate Heat
Heat/Cool : Central Air, Gas, Hot Air
Waterfront : None
PROPERTY DESCRIPTION
LOCATION! LOCATION! LOCATION! This is a highly visible 6 UNIT (3 retails & 3 residentials) building in a TRIPLE A+ location on the BUSIEST corner of Broad Avenue and Route 46 ramp (Columbia Ave). Very well mainteined and great condition building with an attached parking lot with 12 parking spaces. Gas meters and electric meters are all separate and updated. NYC bus stop is right outside. Yearly NET income is already great with current super modest rent rates, BUT potential for MUCH more with current market rent rates. This building is priced extremely well. Come & see!!
Amenities
This listing is a courtesy of Good Neighbor Realty LLC
(201) 461-4989 office, listing agent Justin Kang
About Palisades Park, NJ Real Estate Market
A very small borough located in Bergen County in New Jersey state, Palisades Park has a population of more than 20,000 people, most of which hail from Korea. The borough is spread over just 1.28 square miles and shares its borders with neighboring boroughs like Fort Lee, Ridgefield Park, Leonia and Morsemere.
The foundation of Palisades Park as a modern borough got laid in 1899 under an act of the New Jersey Legislature. A few portions of Ridgefield Township got included for the formation of Palisades Park, which seeks inspiration from its location, which is at the top of New Jersey Palisades.
As said above, it is densely inhabited by Koreans, which form around 65 per cent of the total population of the borough. The borough is also known as ‘Little Korea’ and ‘Koreatown on the Hudson’ by the American natives. Even the central business district located around Broad Avenue is known as Koreatown due to the rich ethnicity of Koreans in the area. In 2015, a proposal for changing the name of Broad Avenue to ‘Korea Way’ was introduced by the Korean-American Association of Palisades Park to the mayor of the town. The influence of Korean culture is evident in this part of New Jersey real estate too.
The foundation of Palisades Park as a modern borough got laid in 1899 under an act of the New Jersey Legislature. A few portions of Ridgefield Township got included for the formation of Palisades Park, which seeks inspiration from its location, which is at the top of New Jersey Palisades.
As said above, it is densely inhabited by Koreans, which form around 65 per cent of the total population of the borough. The borough is also known as ‘Little Korea’ and ‘Koreatown on the Hudson’ by the American natives. Even the central business district located around Broad Avenue is known as Koreatown due to the rich ethnicity of Koreans in the area. In 2015, a proposal for changing the name of Broad Avenue to ‘Korea Way’ was introduced by the Korean-American Association of Palisades Park to the mayor of the town. The influence of Korean culture is evident in this part of New Jersey real estate too.
| Population: | 19,622 |
| Total Housing Units: | 7,362 |
| Single Family Homes: | 3,547 |
| General Tax Rate (2023): | 1.479% |
| Effective Tax Rate (2023): | 1.317% |
| Compare To Other Towns |
Palisades Park Market Indicators
PRICE INDEX
| Average Price* (12mo): | $824,166 |
| Homes Sold* (12mo): | 22 |
PRICE INDEX
SINGLE FAMILY HOME SALES
Palisades Park, NJ
SINGLE FAMILY HOME SALES
Palisades Park, NJ
12 Month Moving Average
1 YR
2 YR
3 YR
5 YR
7 YR
MAX
REAL ESTATE TAXES
| General Tax Rate (2023): | 1.479% |
| Effective Tax Rate (2023): | 1.317% |
GENRAL TAX RATE - Palisades Park, NJ
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MADISON ADAMSTM
office: 201-760-1100
84 E Ridgewood Ave, Suite 201
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
