Automotive Repair Facility in
For Sale
$1,050,000
Pending
422 Monroe St, Passaic, NJ 07055
Established auto repair facility with mechanic services and ample parking.
Property Size7,500 SF
Lot Size0.17 Acres
Days on Market328
Property Features for 422 Monroe St
General Information
Standard status
Pending
Size
7,500 SF
Lot size
0.17 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$12,422
Amenities
2 Units Heating
Blacktop Driveway
Flat Roof
Level Lot
Off-Street Parking
Building Details
Year Built
1950
Listing Agency:
UNITED REAL ESTATE
(888) 501-6953
Listed By:
ROBERTO SANCHEZ · License #9333908
Source:
Corcoran
Added: Oct 7, 2025
Changed: Aug 8
Last Checked: Jul 23 at 10:03AM
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 UNITED REAL ESTATE
Investment Insights
Based on property information with market context.
This commercial property in Passaic, NJ, is an automotive repair facility offering mechanic services, auto sales, and a DMV state inspection facility. The business has served the community for over 30 years. The property is suitable for an owner-operator or investor. The facility spans approximately 7,500 square feet and features five service bays/garages, an outdoor heavy-duty lift, newer lifts and equipment, and ample parking and storage for over 25 vehicles. Additional amenities include office spaces, restrooms, and two extra rooms adaptable for storage or private use. The property is conveniently located near public transportation and major highways, offering accessibility and visibility. The property is fully secured with a professional fence.
Key Highlights
- Established automotive repair facility with a 30+ year history.
- Features mechanic services, auto sales, and DMV state inspection facility potential.
- Approximately 7,500 sq ft facility with five service bays/garages and newer lifts and equipment.
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
$84,182
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
8.02%
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%
$1,683,640
$1.7M
Cap Rate 7%
$1,202,600
$1.2M
Cap Rate 9%
$935,356
$935.4K
Market Conditions
NOI Build-Up for 7,500 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
$127.8K $17.04/SF
− Vacancy
−$7.5K −$1.01/SF
EGI
$120.3K $16.03/SF
− OpEx
−$36.1K −$4.81/SF
NOI
$84.2K $11.22/SF
Area
Passaic County, NJ
Vacancy
5.90%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$1,683,640
Cap Rate 7%
$1,202,600
Cap Rate 9%
$935,356
Alternative Uses
Best Use
Retail
$1.53M
$1.34M – $1.78M
NOI $107,050 @ 7.0% cap · market cap 10.20%
Second Best
Industrial
$1.20M
$1.05M – $1.40M
NOI $84,182 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $137,088 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,154
Businesses Nearby
233k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 34%
Groceries 13%
Apparel 12%
Superfresh
Groceries
30,748 visits/mo
0.4 miles
McDonald's
Dining
26,851 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
23,822 visits/mo
0.2 miles
Chase Bank
Shops & Services
16,728 visits/mo
0.5 miles
7-Eleven
Shops & Services
15,297 visits/mo
0.3 miles
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Chipilo Corporation — 329 Broadway, Passaic, NJ 07055
Frequently Asked Questions
What type of property is this?
Auto shop - Established auto repair facility with mechanic services and ample parking.
Where is this auto shop located?
The property is located at 422 Monroe St Passaic, NJ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Established automotive repair facility with a 30+ year history.; Features mechanic services, auto sales, and DMV state inspection facility potential.; Approximately 7,500 sq ft facility with **five service bays/garages and newer lifts and equipment**.
