Commercial real estate firm NAI James E. Hanson recently announced it has brokered the sale of the former Cherokee Trading Post in Budd Lake.
The firm’s Sig Schorr represented the sellers, Allen Typinski and Tracy Typinski, and Joe Vindigni represented the buyer, Rohan Kranti.
“The Cherokee Trading Post and its distinct teepee crown had been a landmark for over 40 years,” NAI Hanson said in a news release. “Since the business closed its doors last year, the free-standing building at the corner of Route 46 and Old Budd Lake Road had sat vacant. Featuring 25 parking spaces, excellent frontage at a lighted intersection and a prime location less than a mile from Interstate 80, the property provides the new owner with a highly flexible development opportunity.”
NAI Hanson said the buyer will use the adjacent single-family home, also part of the deal, to provide cashflow until the development of both lots begins at the property, located at 67 Route 46, Budd Lake. The retail component of the sale is a 5,919-square-foot asset.
“Every town knows that it is always bittersweet to see a landmark property such as the Cherokee Trading Post permanently turn off the lights,” Schorr said. “Luckily for Budd Lake, this property’s supreme location and adaptability mean that the buyer will be able to redevelop the land to bring a new and exciting business to the town.”