10 S Prospect St, Verona, NJ 07044
CommercialSale - Verona Twp., NJ
- Added:
- Feb 16, 2026
- Days on Market:
- 114
- Last Refresh:
- Jun 10 at 9:06 pm
Property Features for 10 S Prospect St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Annual Amount
- 24721
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Year built
- 1920
- Number of units
- 2
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Roman Drukarov (973) 454-3218
Listing office BHHS Fox & Roach Livingston Sales Office 79 South Livingston Avenue, NJ (973) 992-6363
Listing date Feb 16, 2026
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Almost 6,000sf of usable office space.
- Located in the heart of downtown Verona.
- Taxes recently reassessed down to $21,722.73.
- 23 rooms and work stations.
- 3rd floor built out as an apartment (convertible to office space).
- Suitable for owner/user, investor, or co‑working/rental conversion.
Overview
The property sits on a 0.23-acre site at 10 S Prospect St in Verona Township, Essex County, New Jersey. The listing presents an owner-user, investor, and modernization option given the current mixed configuration and the ability to adapt the third floor for office use.
For tenants, buyers, or operators seeking flexible workplace space, the existing room-and-workstation layout supports private office and similar administrative uses. Owner-users may find the property workable as-is, while investors or conversion-minded buyers can consider updating the building for additional office demand, including co-working or single office rental models. The offering also notes that taxes were recently reassessed to $21,722.73.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.0k | $30.00 |
| − Vacancy | −$12.2k | −$2.04 |
| EGI | $167.8k | $27.96 |
| − OpEx | −$75.5k | −$12.58 |
| NOI | $92.3k | $15.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Verona
- County
- Essex
- State
- New Jersey
- Longitude
- -74.24887
- Latitude
- 40.83266
