71 Union Avenue

For Sale7,300,000

71 Union Avenue, Rutherford, NJ 07070

  • Office
  • Medical Office

71 Union Avenue, Rutherford, NJ 07070 - Office Space

71 Union Avenue is located at 71 Union Avenue in the Rutherford neighborhood, NJ, Rutherford, 07070. The Class B Office building was completed in 1980 and features a total of 33,000 Sqft.

There are 21 office spaces for lease in the Rutherford neighborhood, totaling 113,373 Sqft of available office space. The office space availability for the 07070 zip code is 113,373 Sqft, in 21 office spaces. The average asking office rent per sq. ft. in Rutherford is $26.83/sqft/year. For Class A office buildings the average office rate is $29.75/sqft/year, for Class B office buildings the average office rate is $21/sqft/year.

In Rutherford, there are 3 class B office buildings. In Rutherford, there are a total of 1 LEED certified office buildings. At zip code level, there are 9 commercial properties, of which 2 are office buildings over 50,000 square feet.

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Details

  • Sale Price 7,300,000
  • City Rutherford
  • Neighborhood Rutherford
  • Zip Code 07070
  • Market Northern New Jersey
  • Property Type Office - Medical Office
  • Property Size 33,000 Sqft
  • Lot Size 30,000 Sqft
  • Parking Spaces Avail. 132
  • Parking Ratio 4.00/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • LEED Proposed
  • Building Class B
  • Year Built 1980
  • Year Renovated 2018
  • Date Updated 23 Sep, 2019
  • Construction Type Masonry

Looking for more in-depth information on this property? Find property characteristics, ownership, tenant details, local market insights and more. Unlock data on CommercialEdge.com.

Description

33,000 SF Medical office building 100% rented. Average length of time Tenants have been renting in building over 13 years. Building in excellent condition "perfect for a 1031 exchange". New roof , new common areas , new bathrooms , new sprinkler system in front of buildings bus stop going into NYC , down the block train going into city 20% of tenants live in NYC. The list goes on.....

FREQUENTLY ASKED QUESTIONS

What is the lease rate for 71 Union Avenue?

Rental asking rate at 71 Union Avenue is 7,300,000 per square foot.

What is the total square footage of 71 Union Avenue?

71 Union Avenue totals 33,000 square feet.

When was this property built?

71 Union Avenue was built in 1980.

Rutherford Demographics

The average household income in zip code 07070 is $130,716, from a total of 6,977 households. In terms of employment, there are 89.13 % white-collar and 10.87 % blue-collar jobs in zip code 07070.

Population

  • Total Population18,398
  • Male Population(47.4 %) 8,720
  • Female Population(52.6 %) 9,678
  • Median Age40.00

Income/Financial

  • Average Household Income$130,716
  • Median Household Income$101,473
  • Median Income 25-44$99,495
  • Median Income 45-64$126,287
  • Median Income Over 65$65,301

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Alex Reizner

Aspen Real Estate

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