NAI James E. Hanson, a Teterboro-based commercial real estate firm, announced on Tuesday it has negotiated the sale of a mixed-use building located at 36 Main St. in Netcong.
NAI Hanson’s Joe Vindigni represented the landlord of the 2,100-square-foot property, Robert McElroy, in the deal with the buyer, DN Realty LLC.
The property is fully occupied and includes two ground-level retail/office spaces and one apartment on the top floor. It also has 74 feet of frontage on Main Street and is within close access to the Netcong NJ Transit station, routes 10, 46 and 206, and Interstate 80.
The new owner is planning to continue operating the property as an investment.
“While the larger institutional investments tend to garner more headlines, these smaller size deals are continuing to help drive our state’s robust real estate market,” Vindigni said. “Through our marketing of this property, we helped our client realize full value for this attractive asset through securing a buyer who was interested in realizing the benefits of real estate ownership.”