Mixed-Use Income Property in
171-173 Franklin, Nutley, NJ 07110
Mixed-use property with warehouse, storefront, and apartments in Nutley.
Type:Commercial
Property size:
5,600 SFPrice / SF:
$242/SF- Added:
- Feb 24, 2026
- Days on Market:
- 86
- Last Refresh:
- Apr 5 at 8:33 pm
Property Features for 171-173 Franklin
General Information
- Standard status
- Active
- Size
- 5,600 SF
- Property subtype
- Commercial
Listing agent JASON DION License #NJ1754857
Listing office CENTURY 21 THE CROSSING-MIDLAND PARK (201) 580-2002
Listing date Feb 24, 2026
Source Corcoran
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 CENTURY 21 THE CROSSING-MIDLAND PARK
HighLights
- Income‑producing property boasting $122,760 gross annual income and $81,628 NOI.
- Attractive 6% cap rate at the $1,359,000 asking price.
- Prime mixed‑use property featuring a warehouse, storefront, and three apartments.
- Fully leased with a strong tenant mix.
- 4,600 SF warehouse with 1,000 SF office and private driveway access.
- Excellent visibility and walkable downtown location in Nutley's Franklin Avenue corridor.
Overview
This mixed-use income property is located in the Franklin Avenue corridor of Nutley. The property is fully leased and income-producing, generating a gross annual income of $122,760 and a net operating income of $81,628. The property features a 4,600 square foot warehouse with a 1,000 square foot office, a retail storefront with high visibility, and three residential units. A private driveway provides direct access to the warehouse. The property's location offers excellent visibility and a walkable downtown environment. The property is an investment or owner-user opportunity with a strong tenant mix, steady income, and potential for future rent growth in a supply-constrained market.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$956.9K
NOI $86,117 @ 9.00% cap · cautious / downside scenario
Moderate
$1.23M
NOI $86,117 @ 7.00% cap · market / base-case scenario
Aggressive
$1.72M
NOI $86,117 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $168.0k | $30.00 |
| − Vacancy | −$11.4k | −$2.04 |
| EGI | $156.6k | $27.96 |
| − OpEx | −$70.5k | −$12.58 |
| NOI | $86.1k | $15.38 |
5,600 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,117 @ 7.0% cap · market cap 6.34%
Second Best
Office B
$1.22M
$1.07M – $1.43M
NOI $85,680 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,359 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Office Units
Location Insight
- Map
- Local Demand
- City
- Nutley
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1635
- Latitude
- 40.8139
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with warehouse, storefront, and apartments in Nutley.
Where is this mixed-use property located?
The property is located at 171-173 Franklin Nutley, NJ.
What is the asking price?
The asking price for this property is $1,359,000.
What are key features of this property?
This property features: Income‑producing property boasting $122,760 gross annual income and $81,628 NOI.; Attractive 6% cap rate at the $1,359,000 asking price.; Prime mixed‑use property featuring a warehouse, storefront, and three apartments.
