Second-Floor Retail
For Sale
Contact for pricing
1200 State Route 23, Wayne, NJ 07470
Adaptable commercial space with a private entrance and access to Route 23 in both directions.
Property Size1,600 SF
Price / SF$1.25
Days on Market92
Property Features for 1200 State Route 23
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Commercial
Additional Details
Floor
2
Highway Access
Yes
Amenities
separate entrance
Listing Agency:
REALTY EXECUTIVES EXCEPTIONAL
Listed By:
CHARLES J. MELLENO 973-886-1763
(973) 886-1763
Source:
Brentsellsnj
Added: Jul 26
Changed: Oct 1
Last Checked: Oct 24 at 5:51PM
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 REALTY EXECUTIVES EXCEPTIONAL
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This approximately 1,600-square-foot retail space occupies the second floor of a commercial property at 1200 State Route 23. A separate entrance and flexible interior configuration provide a workable starting point for a variety of commercial layouts.
The property offers direct access to Route 23 North and South, supporting convenient regional connectivity. The space can be retrofitted for office, retail, studio, showroom, or professional use, subject to applicable requirements.
The property offers direct access to Route 23 North and South, supporting convenient regional connectivity. The space can be retrofitted for office, retail, studio, showroom, or professional use, subject to applicable requirements.
Key Highlights
- Approximately 1,600 SF of second‑floor commercial space
- Separate entrance for the space
- Flexible interior layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,837
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,740
$456.7K
Cap Rate 7%
$326,243
$326.2K
Cap Rate 9%
$253,744
$253.7K
Market Conditions
NOI Build-Up for 1,600 SF
Gross rent
$34.6K $21.60/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$32.6K $20.39/SF
− OpEx
−$9.8K −$6.12/SF
NOI
$22.8K $14.27/SF
Area
Passaic County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,740
Cap Rate 7%
$326,243
Cap Rate 9%
$253,744
Alternative Uses
Best Use
Retail
$326.2K
$285.5K – $380.6K
NOI $22,837 @ 7.0% cap · market cap 1,141.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$417.8K
$365.6K – $487.4K
NOI $29,245 @ 7.0% cap · market cap 1,462.25%
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
Highway access
Location Intelligence
Trade Area within ½ mile
655
Businesses Nearby
92k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 25%
Beauty & Spa 1%
Electronics 1%
QuickChek
Shops & Services
29,062 visits/mo
0.3 miles
Exxon
Shops & Services
21,760 visits/mo
0.4 miles
Burger King
Dining
11,166 visits/mo
0.0 miles
Taco Bell
Dining
11,126 visits/mo
0.3 miles
Mobil
Shops & Services
6,519 visits/mo
0.4 miles
Demographics for 07470, NJ
55,284
Population
19,396
Households
2.9
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
23.9 sq mi
ZIP Area
2,313
Density / Sq Mi
$151,561
Median Household Income
$70,100
Median Earnings
$2,126
Median Rent
$596,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Retail space - Adaptable commercial space with a private entrance and access to Route 23 in both directions.
Where is this retail space located?
The property is located at 1200 State Route 23 Wayne, NJ.
What are key features of this property?
This property features: Approximately 1,600 SF of second‑floor commercial space; Separate entrance for the space; Flexible interior layout
