Mixed-Use Property with Retail
For Sale
$1,300,000
188 Bloomfield Ave, Newark, NJ 07104
Mixed-use property featuring retail stores and development potential.
Property Size5,100 SF
Price / SF$254.90
Days on Market188
Property Features for 188 Bloomfield Ave
General Information
Standard status
Active
Size
5,100 SF
Building Details
Year Built
1920
Listing Agency:
WEICHERT REALTORS
Listed By:
LASANDA SHEPPY
(973) 746-1515
Source:
Luminancerealty
Added: Mar 5
Changed: Sep 8
Last Checked: Sep 8 at 6:20AM
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 WEICHERT REALTORS
Investment Insights
Based on property information with market context.
This property features three retail stores with rental potential, along with a building suitable for conversion into mixed-use spaces or apartments. The property offers flexibility for various development options. The building has a total size of 5100 square feet.
Key Highlights
- Three existing retail stores provide immediate rental income.
- Building suitable for mixed‑use development, apartments, or other concepts.
- Excellent rental potential.
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
$77,883
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
5.99%
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%
$1,557,660
$1.6M
Cap Rate 7%
$1,112,614
$1.1M
Cap Rate 9%
$865,367
$865.4K
Market Conditions
NOI Build-Up for 5,100 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
$122.4K $24.00/SF
− Vacancy
−$11.1K −$2.18/SF
EGI
$111.3K $21.82/SF
− OpEx
−$33.4K −$6.54/SF
NOI
$77.9K $15.27/SF
Area
ZIP 07104
Vacancy
9.10%
Lease Rate
$24.00 /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%
$1,557,660
Cap Rate 7%
$1,112,614
Cap Rate 9%
$865,367
Alternative Uses
Best Use
Retail
$1.11M
$973.5K – $1.30M
NOI $77,883 @ 7.0% cap · market cap 5.99%
Second Best
Mixed Use
$1.11M
$968.2K – $1.29M
NOI $77,456 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,924 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,780
Businesses Nearby
82k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 41%
Groceries 14%
Electronics 5%
Dunkin' Donuts
Dining
13,919 visits/mo
0.5 miles
Food Fair Fresh Market
Groceries
11,554 visits/mo
0.4 miles
BP
Shops & Services
10,746 visits/mo
0.4 miles
KFC
Dining
10,075 visits/mo
0.4 miles
Dunkin' Donuts
Dining
9,393 visits/mo
0.5 miles
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Magnolia Florist — 5 Webster St, Newark, NJ 07104
- Jely's multiservices — 51 Bloomfield Ave, Newark, NJ 07104
- Floristeria Jely's Multiservice & Flowers llc — 51 Bloomfield Ave, Newark, NJ 07104
Frequently Asked Questions
What type of property is this?
Storefront property - Mixed-use property featuring retail stores and development potential.
Where is this storefront property located?
The property is located at 188 Bloomfield Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three existing retail stores provide immediate rental income.; Building suitable for mixed‑use development, apartments, or other concepts.; Excellent rental potential.
