Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Auto Service Center For Sale Title is generated by Realmo AI

    69-71 Sherman Pl, Garfield, NJ 07026

    View on Map
    Claim this Listing
    For Sale
    $1,400,000

    Auto service center with retail auto sales site for sale.

    Type:Commercial/Industrial
    Property size:
    2,950 SF
    Lot size:
    0.23 Acres
    Price / SF:
    $474/SF
    Added:
    Jan 5, 2024
    Days on Market:
    877
    Last Refresh:
    May 19 at 10:42 pm

    Property Features for 69-71 Sherman Pl

    General Information

    Standard status
    Active
    Size
    2,950 SF
    Lot size
    0.23 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    FRANCES ROSADO

    Listing agent FRANCES ROSADO

    Listing office REAL

    Listing date Jan 5, 2024

    Source Exitrealty

    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 REAL

    HighLights

    • Auto service center with retail auto sales site
    • Includes dealer license
    • 4‑Bay Service Garage with Lifts
    • Adjacent parking lot for 20+ vehicles
    • Current non‑conforming use can remain
    • Possible residential development site

    Overview

    This property features an auto service center with a retail auto sales site. The 2,950 square foot building includes a 4-bay service garage equipped with lifts, tire service area, parts storage, a customer service desk, and a restroom on the ground floor. The second floor contains two business offices and a restroom. An adjacent parking lot provides space for over 20 vehicles, along with a storage unit and a potential covered detailing area. The sale includes a dealer license. Situated on two lots off the main thoroughfare of Midland Ave, the property's current non-conforming use can remain. The site also presents a possible residential development opportunity.
    Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Similar Places Nearby

    • Machi's Auto — 56 1st St, Passaic, NJ 07055
    • Auto Glass & Windshield Replacement of Wallington — 30 Midland Ave, Wallington, NJ 07057
    • S&W Auto Repair Corp — 60 1st St, Passaic, NJ 07055
    • Norwin towing truck — 80 Alden St, Wallington, NJ 07057
    • Silver Lake Auto — 22 S Main St, Garfield, NJ 07026

    Location Insight

    • Map
    • Local Demand
    City
    Garfield
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.1025
    Latitude
    40.8712

    Nearby Similar for Sale

    • $649,000

      Two-Family Home in Downtown Garfield

      Two-family home near NYC with parking and outdoor space.
      109 Main St, Garfield City, NJ 07026-2522
      View Details
    • $835,000

      Garfield Multifamily Investment Opportunity

      Two-family home in Garfield, NJ with income potential.
      126 Macarthur Avenue, Garfield, NJ 07026
      View Details
    • $925,000
      2,826 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with commercial space, residential unit, and development potential.
      Garfield City, NJ 07026-3604
      View Details
    • $835,000
      1,440 SF

      Two-Family Home in Garfield City

      Two-story, under/over multi-family home, ideal for investors or first-time buyers.
      126 MacArthur Ave, Garfield City, NJ 07026-1544
      View Details
    • $749,900

      Multi-Level Two-Family Home

      Two-family house in quiet neighborhood, close to transportation and amenities.
      163 MACARTHUR AVE, Garfield, NJ 07026
      View Details
    • $899,999

      Garfield City Multi-Family Property

      Legal 3-family property with income potential and flexible living options.
      280 Macarthur Ave, Garfield City, NJ 07026-1453
      View Details
    • $595,000

      Two-Family Home in Garfield, NJ

      Two-family home with parking, yard, and commuter access.
      67 Grand St, Garfield City, NJ 07026-3303
      View Details
    • $759,000

      Renovated Multi-Family Home in Garfield

      Renovated two-family home with modern updates and spacious layouts.
      87 Semel Ave, Garfield City, NJ 07026-3740
      View Details
    • $505,000

      Multi-Family Home with Potential

      Two-family home in Garfield City with separate utilities and large lot.
      43 Maitland Pl, Garfield City, NJ 07026-1227
      View Details
    • $699,000

      Garfield City Two-Family Home

      Two-family home in Garfield City near schools and shopping.
      283 Malcolm Ave, Garfield City, NJ 07026-1125
      View Details
    • $925,000
      2,826 SF

      Mixed-Use Property with Income Potential

      Mixed-use property with commercial space, residential unit, and development potential.
      142 Division Ave, Garfield City, NJ 07026
      View Details
    • $759,000

      Renovated Two-Family Home in Garfield

      Renovated two-family home with modern updates and spacious layouts.
      89 Semel Ave, Garfield, NJ 07026-3740
      View Details

    FAQs

    What type of property is this?
    Auto shop - Auto service center with retail auto sales site for sale.
    Where is this auto shop located?
    The property is located at 69-71 Sherman Pl Garfield, NJ.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Auto service center with retail auto sales site; Includes dealer license; **4‑Bay Service Garage with Lifts**
    (973) 868-1835
    We can help!
    Listing Contact
    FRANCES ROSADO
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    69-71 Sherman Pl, Garfield City, NJ 07026
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!