Mixed-Use Corner Lot
691 Franklin Ave Nutley, NJ 07110
691 Franklin Ave, Nutley, NJ, 07110
$735,000
Pending
For Sale
$735,000
Pending
Mixed-use property in downtown Nutley with commercial and residential spaces.
Property Size2,498 SF
Days on Market493
Property Features for 691 Franklin Ave
General Information
- Standard status
- Pending
- Size
- 2,498 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing Agency
KELLER WILLIAMS - NJ METRO GROUP
(973) 783-7400
Listed by
MARY RYDER
Source
Corcoran
Added: Mar 15, 2025 Updated: Jul 6 at 9:52 am Checked: Jul 19 at 4:05 am
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 KELLER WILLIAMS - NJ METRO GROUP
Investment Insights
Based on property information with market context.
This mixed-use property presents an opportunity for investors or business owners. Situated on a corner lot in downtown Nutley, the property features a commercial space attached to a residential home. Zoned for commercial and neighborhood business, the property offers numerous possibilities, including use as an attorney's office or a coffee shop. The property provides a good amount of available space extending from the building to the public sidewalk. Its location offers proximity to a NYC bus stop on the corner, Route 3, train transportation, the ON3 Campus, and downtown shops. The property size is 2498 square feet.
Key Highlights
- Mixed‑use property featuring commercial space attached to a residential home.
- Zoned for commercial and/or neighborhood business, offering numerous business options.
- Prime corner lot location in the downtown area of Nutley.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.9k | $30.00 |
| − Vacancy | −$24.0k | −$9.60 |
| EGI | $51.0k | $20.40 |
| − OpEx | −$12.7k | −$5.10 |
| NOI | $38.2k | $15.30 |
2,498 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$546.0K
$477.7K – $637.0K
NOI $38,219 @ 7.0% cap · market cap 5.20%
Second Best
Retail
$509.4K
$445.7K – $594.3K
NOI $35,655 @ 7.0% cap · market cap 4.85%
Theoretical Best
Office A
$652.3K
$570.7K – $761.0K
NOI $45,659 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Dancers In Motion
Training Center
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property in downtown Nutley with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 691 Franklin Ave Nutley, NJ.
What is the asking price?
The asking price for this property is $735,000.
What are key features of this property?
This property features: Mixed‑use property featuring commercial space attached to a residential home.; Zoned for commercial and/or neighborhood business, offering numerous business options.; Prime corner lot location in the downtown area of Nutley.
