Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    20-22 Washington Ave Belleville, NJ 07109

    View on Map
    Sponsored
    For Sale
    $850,000

    Lots and Land - Belleville Twp., NJ

    Days on Market:
    1
    Last Refresh:
    Mar 7 at 7:06 pm

    Property Features for 20-22 Washington Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    BARBARA LOPEZ

    Realty ONE Group Legend (973) 686-7777

    Listing agent BARBARA LOPEZ (973) 686-7777

    Listing date Mar 7, 2026

    MLS# 4013135 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Development Opportunity in Belleville Township

    This offering comprises two adjacent parcels being sold together, forming a larger footprint suitable for a future development project. The site's size and layout suggest the potential for a multifamily or mixed-use development, possibly accommodating up to approximately 16 units, contingent upon the buyer's due diligence, zoning verification, and municipal approvals. Lot #8502 measures approximately 105 x 50, with taxes of $4,676.63. Lot #2.01 measures approximately 99.94 x 34.9, with taxes of $1,941.21. This oversized lot for the area presents an opportunity for ground-up development, with potential for a multifamily or mixed-use concept. It represents an attractive opportunity for experienced builders or investors looking to secure land in a growing Essex County market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Essex
    State
    New Jersey
    Longitude
    -74.154043874005
    Latitude
    40.781825924762

    Nearby Similar for Sale

    • $300,000
      3,069 SF

      Established Laundromat Business For Sale

      Well-maintained laundromat business on a high-traffic street in Belleville.
      129 Washington Ave, Belleville, NJ 07109
      View Details
    • $2,000,000
      2,700 SF

      Belleville Multifamily Investment Opportunity

      Modern 6-unit building near transit and amenities.
      55 Watchung Ave, Belleville, NJ 07109
      View Details
    • $769,900
      Pending

      Meticulously Maintained Multi-Family Property

      Three-family property in a prime location with strong rental returns.
      608 Washington Ave, Belleville, NJ 07109
      View Details
    • $2,000,000
      5,700 SF

      Renovated Multifamily Property in Belleville

      Six-unit multifamily property with modern finishes and desirable amenities.
      220 Passaic Ave, Belleville, NJ 07109
      View Details
    • $625,000
      0.07 Acres

      Two-Family Home in Belleville Township

      Versatile two-family home with investment and renovation potential.
      425 Dewitt Ave, Belleville, NJ 07109
      View Details
    • $2,400,000
      0.11 Acres

      Commercial Property in Busy District

      Commercial property in a busy business district, suitable for storage.
      32 Washington Ave, Belleville, NJ 07109
      View Details
    • $2,400,000

      Commercial Property in Busy District

      Commercial property in a busy business district, Belleville Twp., NJ.
      32 Washington Ave, Belleville, NJ 07109
      View Details
    • New
      $859,000
      4,650 SF

      Belleville Three-Family Property For Sale

      Well-maintained, 4650 sq ft three-family property in Belleville, NJ.
      302 Belmont Ave, Belleville, NJ 07109
      View Details
    • $699,000
      0.06 Acres

      Spacious Multi-Unit Property in Belleville

      Three-unit property with income potential near NYC transportation.
      76 Heckel St, Belleville, NJ 07109
      View Details
    • $550,000
      5,000 SF

      Free Standing Warehouse For Sale

      5,000 SF free standing warehouse with on-site parking.
      135 Little St, Belleville, NJ 07109
      View Details
    • $1,200,000

      Belleville Commercial Property For Sale

      Large property with potential for development in Belleville, NJ.
      94 Bridge St, Belleville, NJ 07109
      View Details
    • New
      $659,000
      0.07 Acres

      Belleville Twp. Multi-Family Property

      Three-story multi-family property in Belleville Twp., NJ for sale.
      394 Cortlandt St, Belleville, NJ 07109
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Two adjacent parcels with potential for multifamily or mixed-use development.
    Where is this residential land & home lot located?
    The property is located at 20-22 Washington Ave Belleville, NJ.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Oversized lot with potential for ground-up development.; - Two adjacent parcels being sold together as one.; - Potential for multifamily or mixed-use development (up to approximately 16 units, subject to approvals).
    (973) 686-7777
    Request Owner's contact information
    20-22 Washington Ave Belleville, NJ 07109
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20-22 Washington Ave
    Belleville, NJ 07109
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    20-22 Washington Ave Belleville, NJ 07109
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    BARBARA LOPEZ
    (973) 686-7777
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!