Mixed-Use Property with
New
For Sale
$985,000
15 Wallington Avenue, Wallington, NJ 07057
MULTI_FAMILY - Wallington, NJ
Property Size3,000 SF
Price / SF$328.33
Days on Market2
Property Features for 15 Wallington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3, Basement, Bathroom 3, Bathroom 2, Bathroom 1
Subdivision
Wallington
Standard status
Active
Utilities
Cooling system
Central Air
Amenities
central air conditioning
commercial kitchen hood
high ceilings
open layout
off-street parking
Listing Agency:
Keller Williams City Views Realty · Keller Williams Realty
(201) 592-8900
Listed By:
Jonathan Jimenez Cardona · License #311736
(201) 592-8900
Added: Aug 3
Changed: Aug 4
Last Checked: Aug 4 at 6:06PM
MLS# 26029212
Copyright © 2026 New Jersey MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines approximately 3,000 square feet of ground-level commercial space with two residential apartments. The commercial area includes central air conditioning, a commercial kitchen hood, high ceilings, and an open floor plan. One apartment has two bedrooms and one full bathroom with shared common areas; the other contains one bedroom and one full bathroom. The property will be delivered fully vacant.
Off-street parking accommodates multiple vehicles for occupants, customers, and business operations. Located in Wallington, Bergen County, the property provides access to Route 21, Route 3, Route 80, Route 46, and transportation routes connecting to New York City and surrounding areas. A proposal for conversion and expansion into a 9-unit residential building is available, but the plans are not approved and remain subject to buyer due diligence.
Off-street parking accommodates multiple vehicles for occupants, customers, and business operations. Located in Wallington, Bergen County, the property provides access to Route 21, Route 3, Route 80, Route 46, and transportation routes connecting to New York City and surrounding areas. A proposal for conversion and expansion into a 9-unit residential building is available, but the plans are not approved and remain subject to buyer due diligence.
Key Highlights
- Approximately 3,000 square feet of ground‑level commercial space
- Two residential apartments: one 2‑bedroom and one 1‑bedroom unit
- Commercial area includes central air, kitchen hood, high ceilings, and open layout
Financial Insights For Multifamily LT 5
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 | $76.7k | $25.56 |
| − Vacancy | −$5.0k | −$1.65 |
| EGI | $71.7k | $23.91 |
| − OpEx | −$21.5k | −$7.17 |
| NOI | $50.2k | $16.74 |
3,000 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$717.3K
$627.6K – $836.8K
NOI $50,209 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,134 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
Explore this area
Business Placement
Demographics for 07057, NJ
11,868
Population
5,153
Households
2.3
Avg Household Size
41
Median Age
37%
College-Educated
93%
High-School Grad
1.0 sq mi
ZIP Area
11,868
Density / Sq Mi
$82,422
Median Household Income
$53,693
Median Earnings
$1,568
Median Rent
$493,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant commercial and residential asset with central air, kitchen infrastructure, parking, and access to major regional routes.
Where is this mixed-use property located?
The property is located at 15 Wallington Avenue Wallington, NJ.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Approximately 3,000 square feet of ground‑level commercial space; Two residential apartments: one 2‑bedroom and one 1‑bedroom unit; Commercial area includes central air, kitchen hood, high ceilings, and open layout
