Quadplex with Approved Mixed-Use
For Sale
Contact for pricing
1184 Main Avenue, Clifton, NJ 07011
Fully approved plan adds ground-floor commercial with four residential apartments above to the existing multi-tenant building.
Property Size10,464 SF
Price / SF$477.83
Days on Market94
Property Features for 1184 Main Avenue
General Information
Standard status
Active
Size
10,464 SF
Class
C
Total Parking Spaces
45
Property subtype
Retail, Multifamily, Office
Zoning
B-C
Investment Type
Redevelopment
Site & Location
Drive-Thru
Yes
Utilities to Site
Yes
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1928
Buildings
1
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
KW Commercial
Listed By:
Bruce Elia · License #NJ 0893523
Source:
Crexi
Added: Jul 23
Changed: Oct 14
Last Checked: Oct 23 at 6:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial
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Investment Insights
Based on property information with market context.
The property features a 10,464 SF, two-story, multi-tenant commercial building with mezzanine, built in 1928 and renovated in the 2000s. The existing layout is described as flexible, with separate utilities, sprinklers, and HVAC, and includes a bank drive-through.
The site also has fully approved plans for an additional 8,071 SF mixed-use development on the same lot. The approved development provides new ground-floor commercial space with four residential apartments above.
As currently configured, the property contains seven rentable commercial units plus two Verizon antenna income streams. The combination of existing income sources and approved expansion creates a single integrated opportunity for an owner looking to manage both current tenancy and the planned mixed-use improvements within one asset.
The site also has fully approved plans for an additional 8,071 SF mixed-use development on the same lot. The approved development provides new ground-floor commercial space with four residential apartments above.
As currently configured, the property contains seven rentable commercial units plus two Verizon antenna income streams. The combination of existing income sources and approved expansion creates a single integrated opportunity for an owner looking to manage both current tenancy and the planned mixed-use improvements within one asset.
Key Highlights
- 10,464 SF two‑story multi‑tenant commercial building with mezzanine
- Fully approved 8,071 SF mixed‑use development on the same lot
- Approved project: new ground‑floor commercial with four residential apartments above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$175,127
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,502,540
$3.5M
Cap Rate 7%
$2,501,814
$2.5M
Cap Rate 9%
$1,945,856
$1.9M
Market Conditions
NOI Build-Up for 10,464 SF
Gross rent
$267.5K $25.56/SF
− Vacancy
−$17.3K −$1.65/SF
EGI
$250.2K $23.91/SF
− OpEx
−$75.1K −$7.17/SF
NOI
$175.1K $16.74/SF
Area
Passaic County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,502,540
Cap Rate 7%
$2,501,814
Cap Rate 9%
$1,945,856
Alternative Uses
Best Use
Multifamily LT 5
$2.50M
$2.19M – $2.92M
NOI $175,127 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$2.30M
$2.01M – $2.68M
NOI $160,915 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,265 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,216
Businesses Nearby
Explore this area
Business Placement
Demographics for 07011, NJ
41,691
Population
14,198
Households
2.9
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
13,449
Density / Sq Mi
$73,589
Median Household Income
$41,323
Median Earnings
$1,613
Median Rent
$403,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully approved plan adds ground-floor commercial with four residential apartments above to the existing multi-tenant building.
Where is this quadplex located?
The property is located at 1184 Main Avenue Clifton, NJ.
What is the asking price?
The asking price for this property is $4,999,999.
What are key features of this property?
This property features: 10,464 SF two‑story multi‑tenant commercial building with mezzanine; Fully approved 8,071 SF mixed‑use development on the same lot; Approved project: new ground‑floor commercial with four residential apartments above
