Building Details

Building Size 12,000 SF

Stories 2

Units 12

Listing Agency: Coldwell Banker Realty Show Phone

Listed By: John Clark Wiley Show Phone

Source: Cammarotarealestate

Added: Jul 6, 2024 Changed: Oct 22 Last Checked: Oct 22 at 9:05AM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$183,514

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,670,280 $3.7M

Cap Rate 7%

$2,621,629 $2.6M

Cap Rate 9%

$2,039,044 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,000 SF

Gross rent

$259.2K $21.60/SF

− Vacancy

−$14.5K −$1.21/SF

EGI

$244.7K $20.39/SF

− OpEx

−$61.2K −$5.10/SF

NOI

$183.5K $15.29/SF

Area

Union County, NJ

Vacancy

5.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,670,280

Cap Rate 7%

$2,621,629

Cap Rate 9%

$2,039,044

Alternative Uses

Best Use

Specialty Retail

$2.62M

$2.29M – $3.06M (±1% cap)

NOI $183,514 @ 7.0% cap · market cap 4.08%

Second Best

Retail

$2.45M

$2.14M – $2.85M (±1% cap)

NOI $171,279 @ 7.0% cap · market cap 3.81%

Theoretical Best

Office A

$3.13M

$2.74M – $3.66M (±1% cap)

NOI $219,341 @ 7.0% cap · market cap 4.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Commercial land

Suggested Use

Top Pick Hair Salon Restaurant Nail Salon Spa & Massage Center Auto Parts Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

426

Businesses Nearby

7k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

7-Eleven Shops & Services

6,245 visits/mo 0.1 miles

Bank of America Shops & Services

941 visits/mo 0.1 miles

Demographics for 07092, NJ

7,082

Population

2,616

Households

2.7

Avg Household Size

47

Median Age

66%

College-Educated

97%

High-School Grad

4.0 sq mi

ZIP Area

1,771

Density / Sq Mi

$210,100

Median Household Income

$87,207

Median Earnings

$3,501

Median Rent

$755,600

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Similar For Sale Nearby

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5,580 SF

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Updated Office Units

917 Mountain Ave, Mountainside, NJ 07092

Contact for pricing

2,328 SF

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Frequently Asked Questions

Where is this commercial land located?

The property is located at 855-859 Mountain Ave #1 Mountainside, NJ.

What is the asking price?

The asking price for this property is $4,500,000.