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Financial
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Property profile

500 Central Ave Westfield, NJ 07090

OFF-MARKET
Commercial real estate
Property ID
US59-1069503
36,000 SF 0.82 ac lot Built 2024
Entity Owned 3-yr Hold
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Property summary

AI-generated overview

This exceptional commercial property, located at 500 Central Avenue in Westfield, NJ's vibrant downtown district, offers up to 12,000 square feet of versatile space ideal for retail, professional, or medical uses. The property boasts a total of 36,000 square feet situated on a 0.82-acre lot. Currently, there is up to 12,000 square feet available for lease on the first floor. This space is fully handicap accessible and has already received approvals for medical use, making it an attractive option for healthcare providers. The building features impressive marble entryways and hallways, enhancing the professional image and creating a welcoming atmosphere. An eight-hour concierge service adds a layer of convenience and security for tenants and their clients. Ample parking is available, further enhancing the property's appeal. The building also features elevator access throughout, ensuring easy navigation for all occupants. To further incentivize tenancy, the owner is willing to cover the cost of build-out to suit the tenant's specific needs. This presents a unique opportunity to customize the space to perfectly match your business requirements. This prime location in Westfield's bustling downtown offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a high-profile presence.

Property profile

Verified
Property type Commercial real estate
Year built 2024
Total area 36,000 SF
Lot 0.82 ac (35,719 SF)
UPID US59-1069503

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

500 Central Ave Westfield, NJ 07090
Westfield metro
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Value estimations

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Owner & transaction history

since 2023
6 recorded transactions
2026
Price N/A
2024
Price N/A
2023
Price N/A
2022
Price N/A
2020
Price N/A
2019
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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