Turn-Key Mixed-Use Investment
For Sale
$1,490,000
Pending
580 Scotland Rd, Orange, NJ 07050
Two renovated properties: mixed-use and mechanic shop in developing corridor.
Property Size3,890 SF
Lot Size0.09 Acres
Days on Market154
Property Features for 580 Scotland Rd
General Information
Standard status
Pending
Size
3,890 SF
Lot size
0.09 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,127
Building Details
Building Size
3,890 SF
Year Built
1927
Stories
2
Units
2
Listing Agency:
Global Realty Resource Corp
(973) 641-5700
Listed By:
BARRINGTON PALMER · License #276079
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 15 at 10:13PM
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 Global Realty Resource Corp
Investment Insights
Based on property information with market context.
This offering presents an investment opportunity in the developing corridor of Scotland Road, Orange, NJ. The properties, being sold as a package deal, include 580 Scotland Rd, a mixed-use building featuring a beauty salon, a Caribbean restaurant, a two-bedroom, one-bath apartment, and a three-bedroom, one-bath apartment. Additionally, the package includes 584 Scotland Rd, which houses a mechanic shop. Both properties have been renovated and updated. The properties are being sold in as-is condition.
Key Highlights
- Package deal: Turn‑key properties at 580 & 584 Scotland Rd being sold together.
- Multiple income streams: 580 Scotland Rd features a beauty salon, Caribbean restaurant, 2‑bed/1‑bath unit, and a 3‑bed/1‑bath unit.
- Mechanic shop: 584 Scotland Rd includes a mechanic shop.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,820
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,196,400
$1.2M
Cap Rate 7%
$854,571
$854.6K
Cap Rate 9%
$664,667
$664.7K
Market Conditions
NOI Build-Up for 3,890 SF
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.
Gross rent
$116.7K $30.00/SF
− Vacancy
−$7.9K −$2.04/SF
EGI
$108.8K $27.96/SF
− OpEx
−$48.9K −$12.58/SF
NOI
$59.8K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,196,400
Cap Rate 7%
$854,571
Cap Rate 9%
$664,667
Alternative Uses
Best Use
Apartment 5plus
$854.6K
$747.8K – $997.0K
NOI $59,820 @ 7.0% cap · market cap 4.01%
Second Best
Specialty Retail
$849.8K
$743.6K – $991.5K
NOI $59,489 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.02M
$888.8K – $1.19M
NOI $71,103 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,445
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07050, NJ
34,315
Population
13,412
Households
2.6
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
2.2 sq mi
ZIP Area
15,598
Density / Sq Mi
$53,109
Median Household Income
$38,587
Median Earnings
$1,427
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Bobby's Mobile Auto Repair — 63 Finlay Pl, Newark, NJ 07106
- Easy Auto Repair — 690 Scotland Rd, City of Orange, NJ 07050
- E Z Auto Repair — City of Orange, NJ 07050
- Bobby's Mobile Auto Repair, LLC — 63 Finlay Pl, Newark, NJ 07106
- My WordPress — 552 Beach St, City of Orange, NJ 07050
Frequently Asked Questions
What type of property is this?
Auto shop - Two renovated properties: mixed-use and mechanic shop in developing corridor.
Where is this auto shop located?
The property is located at 580 Scotland Rd Orange, NJ.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Package deal: Turn‑key properties at 580 & 584 Scotland Rd being sold together.; Multiple income streams: 580 Scotland Rd features a beauty salon, Caribbean restaurant, 2‑bed/1‑bath unit, and a 3‑bed/1‑bath unit.; Mechanic shop: 584 Scotland Rd includes a mechanic shop.
