NAI James E. Hanson announced on Thursday it has negotiated the sale of a 5,000-square-foot mixed-use building in Bergenfield.
The Teterboro-based commercial real estate firm said the 5,000-square-foot property, located at 205-207 North Washington Ave., is a mixed-use building with two professional offices on the first floor and four one-bedroom apartments on the second.
The buyer plans to convert the first floor into four more apartments for additional income. The property also has a private parking lot with 14 spaces.
“Well-located mixed-use properties remain highly attractive to investors, even in uncertain market conditions,” Cassano said. “We were pleased to leverage our local market expertise to not only secure a buyer that recognized the property’s income-generating potential but to negotiate a deal at fair market value that was mutually beneficial to both parties.”