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

    193 South Ave Fanwood, NJ 07023

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    High-potential, vibrant downtown Fanwood location.

    Property size:
    3,759 SF

    Property Features for 193 South Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    3,759 SF
    Lot Size
    11,326 SF

    Building Details

    Year Built
    1940

    We can help!

    Listing Contact
    Mary Depaola

    Listing Agency: COLDWELL BANKER REALTY Listing Agent: Mary Depaola

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional mixed-use property, located at 193 South Avenue in the heart of Fanwood, NJ, presents a compelling investment opportunity. Boasting 3,759 square feet on a 0.26-acre lot, this property is ideally situated within Fanwood's thriving Central Commercial Corridor, benefiting from a vibrant live-work-play environment. Its prime location offers unparalleled convenience, with fine dining, cafes, shops, and public transportation all within a short 0.3-mile radius. The Fanwood train station is just one block away, enhancing accessibility and attracting a diverse clientele. Ample parking is available on-site, with a convenient driveway providing access to both South Avenue and Sheelen's Crossing. The property's zoning designation allows for significant potential, making it an attractive prospect for a variety of uses. This is a rare chance to acquire a substantial mixed-use property in a rapidly growing and highly desirable New Jersey town. The property's size and location within the redevelopment zone offer significant upside for the discerning investor. The existing infrastructure and convenient access points further enhance its appeal. This is a truly unique opportunity to capitalize on the ongoing growth and revitalization of downtown Fanwood.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Hung S. ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fanwood
    County
    Union
    State
    New Jersey
    Longitude
    -74.38625
    Latitude
    40.63968

    Nearby Similar for Sale

    • Contact for pricing
      4,472 SF

      Prime Retail Space Near Train

      Highly visible retail space with parking near Fanwood Train Station.
      265 South Ave, Fanwood, NJ 07023
      View Details
    • Contact for pricing
      2,520 SF

      Professional Office Suite Near Train

      High-visibility office suite near Fanwood Train Station with dedicated parking.
      265 South Ave, Fanwood, NJ 07023
      View Details
    • $150,000
      1,382 SF

      Profitable Salon Near Train Station

      Renovated salon with loyal clientele in high-traffic location.
      232 South Ave, Fanwood, NJ 07023
      View Details
    • $899,000

      Renovated Two-Family Home in Fanwood

      Renovated two-family home in prime location near train and shops.
      21 Old South Ave, Fanwood, NJ 07023
      View Details
    • $1,200,000

      Dental Practice with Development Potential

      Corner property with parking, dental practice, development potential.
      69 S Martine Ave, Fanwood, NJ 07023
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - High-potential, vibrant downtown Fanwood location.
    Where is this mixed-use property located?
    The property is located at 193 South Ave Fanwood, NJ.
    What is the asking price?
    The asking price for this property is $1,200,000.
    (908) 233-5555
    Request Owner's contact information
    193 South Ave Fanwood, NJ 07023
    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.
    193 South Ave
    Fanwood, NJ 07023
    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
    193 South Ave Fanwood, NJ 07023
    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
    Mary Depaola
    (908) 233-5555 (908) 963-8673
    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!