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    820 Bloomfield Ave Verona, NJ 07044

    Sponsored
    For Sale
    $950,000

    Mixed-use building, redevelopment opportunity.

    Property size:
    2,997 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    340
    This exceptional 2,997 square foot commercial property, located at 820 Bloomfield Avenue in Verona, NJ, presents a compelling investment opportunity. Situated on a 0.28-acre lot, the property currently operates as a blend of apartment and retail/office space. The existing structure offers seven on-site parking spaces, supplemented by ample street parking. A key advantage is the property's mixed-use zoning, allowing for diverse development possibilities. While currently configured for a smaller-scale use, the site holds significant potential for redevelopment, particularly as a multi-family residential project. Preliminary assessments suggest the feasibility of constructing a 4-6 unit multi-family building. However, securing a zoning variance may be required to fully realize this potential. The property's strategic location benefits from high visibility and significant traffic volume, with approximately 15,000 cars passing daily. Further enhancing its appeal is the construction of a new 100-unit apartment complex directly across the street, indicating strong market demand and future growth in the immediate vicinity. This presents a unique chance to capitalize on a thriving area and create a valuable asset. The asking price is $950,000. Serious inquiries are encouraged.

    Property Features for 820 Bloomfield Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    2,997 SF
    Lot Size
    12,197 SF

    Building Details

    Year Built
    1870
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Verona
    County
    Essex
    State
    New Jersey
    Longitude
    -74.25449
    Latitude
    40.83456

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Commercial real estate - Mixed-use building, redevelopment opportunity.
    Where is this commercial real estate located?
    The property is located at 820 Bloomfield Ave Verona, NJ.
    What is the asking price?
    The asking price for this property is $950,000.
    (973) 233-2300
    Request Owner's contact information
    820 Bloomfield Ave Verona, NJ 07044
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    Verona, NJ 07044
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    Realmo Value Estimation

    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.

    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.

    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
    820 Bloomfield Ave Verona, NJ 07044
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