Marcus & Millichap.Marcus Marcus, in the Bible: see Mark, Saint. & Millichap of Fort Lee, NJ announces the sale of a retail strip in Teaneck, NJ. David Haziza acted as exclusive agent for the seller. The property, located on Teaneck Road, a major thoroughfare THOROUGHFARE. A street or way so open that one can go through and get out of it without returning. It differs from a cul de sac, (q.v.) which is open only at one end. 2. Whether a street which is not a thoroughfare is a highway, seems not fully settled. in Bergen County, is a short distance from Route 4. The fully leased property, consisting of 6,100 square feet and five stores, closed at a capitalization rate Capitalization Rate According to the Appraisal Institute, it is a method used to convert an estimate of a single year's income expectancy into an indication of value in one direct step, by dividing the income estimate by an appropriate rate. in excess of 11.6 percent. "After several unsuccessful attempts by local brokers to market the property, we were able to generate multiple offers within 30 days by marketing to a select target audience of most likely buyers," said Haziza. Moreover, the town's strong demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. , with over 7,700 households and estimated household incomes of $81,238 annually, is a strong and desirable retail market. The area's low vacancies generate high returns for investors. |
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