Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    239 Main Ave Passaic, NJ 07014

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,250,000

    Fully operational gas station and leased mechanic shop for sale.

    Lot size:
    0.09 Acres

    Property Features for 239 Main Ave

    General Information

    Lot size
    0.09 Acres

    Building Details

    Year built
    1930

    We can help!

    Listing Contact
    Alexis Guilliani
    Source: Elliman

    Listing Agent: Alexis Guilliani

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

    Learn more

    Property Insight Report

    Overview

    Gas Station and Mechanic Shop

    This property features a fully operational gas station and a fully leased mechanic shop. It is situated on a highly visible corner lot in a bustling commercial area. The gas station is equipped with two 6,000-gallon underground gas tanks and two modern gas pumps. The property is up-to-date with all local and state inspections. The sale encompasses both the gas station business and the underlying real estate, ready for immediate ownership.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1265874
    Latitude
    40.847045

    Nearby Similar for Sale

    • New
      $775,000
      0.07 Acres

      Spacious Multi-Family in Passaic City

      Oversized two-family property with income potential in a convenient location.
      25 Burgess Pl, Passaic, NJ 07055
      View Details
    • $629,900
      Pending

      Passaic City Multi-Family Home

      Multi-family home with garage, driveway, and backyard in Passaic City.
      35 7Th Ave, Passaic, NJ 07055
      View Details
    • $649,900

      Renovated Two-Family Home in Passaic

      Renovated two-family home with bonus rooms and modern amenities.
      20 Wickham St, Passaic, NJ 07055
      View Details
    • $159,900
      1,200 SF

      Established Flower Franchise for Sale

      Turnkey 1-800-Flowers franchise with warehouse and growth potential.
      343 Monroe St, Passaic, NJ 07055
      View Details
    • $159,900
      1,200 SF

      Established Flower Franchise For Sale

      Turnkey 1-800-Flowers franchise with warehouse and growth potential.
      343 Monroe St, Passaic, NJ 07055
      View Details
    • $1,250,000
      Pending

      Passaic City Income Opportunity

      Multifamily property with multiple units and garage in Passaic City.
      348 Montgomery St, Passaic, NJ 07055
      View Details
    • $1,095,000
      7,500 SF

      Turn-Key Auto Repair Business

      Established auto repair business with inspection facility and ample parking.
      422 Monroe St, Passaic, NJ 07055
      View Details
    • $469,000
      Pending

      Passaic City Multi-Family Home

      Multi-family home with renovated bathrooms and new roof.
      44 3Rd St, Passaic, NJ 07055
      View Details
    • $549,900
      Pending

      Spacious Multi-Family in Passaic City

      Two-family house near downtown Passaic with potential for expansion.
      112 Washington Pl, Passaic, NJ 07055
      View Details
    • $650,000
      0.06 Acres

      Passaic City Multi-Family Opportunity

      Multi-family property in central Passaic City with high visibility.
      383 Broadway, Passaic, NJ 07055
      View Details
    • $499,000

      Income-Generating 2-Family with Bonus Unit

      Legal 2-family with bonus unit in prime Passaic location.
      21 High St, Passaic, NJ 07055
      View Details
    • $799,000
      5,100 SF

      Versatile Office Building with OR Zoning

      5,100 sq ft office building with flexible zoning.
      111 Lexington Ave, Passaic, NJ 07055
      View Details

    FAQs

    What type of property is this?
    Gas station - Fully operational gas station and leased mechanic shop for sale.
    Where is this gas station located?
    The property is located at 239 Main Ave Passaic, NJ.
    What is the asking price?
    The asking price for this property is $2,250,000.
    What are key features of this property?
    This property features: - High-visibility corner lot location in a bustling commercial area.; - Fully operational gas station business included in the sale, ready for immediate ownership.; - Fully leased mechanic shop provides stable income and adds value.
    (973) 928-3330
    Request Owner's contact information
    239 Main Ave Passaic, NJ 07014
    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.
    239 Main Ave
    Passaic, NJ 07014
    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
    239 Main Ave Passaic, NJ 07014
    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
    Alexis Guilliani
    (973) 928-3330
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.