580 Lafayette Ave

Description

Exceptional mixed-use investment opportunity at 580 Lafayette Avenue in Hawthorne, fully leased and producing stable income.The property features two street-level retail spaces, a nail salon and a clothing boutique both equipped with central air, plus two residential apartments above: one three-bedroom unit and one two-bedroom unit that can easily be made a 3 bd, both maintained in very nice condition. Ea. apt. is leased for $2,500 m with tenants responsible for their own heat, hot water, and electricity.The commercial tenants contribute toward common area maintenance expenses, with increases over the established base year, providing built-in potential for continued income growth.The property also includes six dedicated rear parking spaces, an invaluable amenity for both residential and commercial tenants.Ideally positioned along bustling Lafayette Avenue, the property offers excellent visibility and is surrounded by some of Hawthorne's most popular destinations, including Angelina's Fine Italian Deli, Bottagra Restaurant, Macaluso's renowned wedding and event venue, Goffle Creamery, the Passaic County Arts Center at the John W. Rea House, and beautiful Goffle Brook Park.Residents, customers, and visitors enjoy a vibrant neighborhood atmosphere with convenient access to shopping, dining, recreation, NJ Transit, and major highways. A solid income-producing asset today with long-term value-add potential, this property is ideal for either an investor or an owner-occupant.