Mixed-Use Building with
189191 Broadway Westville, NJ 08093
For Sale
$525,000
Mixed-use downtown building with two storefronts and three residential apartments, including private tenant parking and separate meters.
Property Size3,540 SF
Price / SF$148.31
Days on Market311
Property Features for 189191 Broadway
General Information
- Standard status
- Active
- Size
- 3,540 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1928
Listing Agency:
Real Broker,LLC
Listed By:
Timothy Kerr Jr.
(800) 299-2129
Source:
Actionplusrealty
Added: Sep 18, 2025
Changed: Jul 25
Last Checked: Jul 25 at 2:03AM
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 Broker,LLC
Investment Insights
Based on property information with market context.
This mixed-use commercial building includes two storefront spaces and three residential apartments. One storefront is currently leased, while the other is vacant and ready for a new tenant. The property is described as being in great condition and features separate gas and electric meters for tenant-level utility separation, along with private tenant parking.
Located in downtown Westville along the city’s revitalizing business district, the building is positioned for retail visibility. The property is also described as providing easy access to major highways and neighboring towns.
For buyers considering an owner-occupant scenario, the remarks note that one of the one-bedroom residential units will be vacant on July 31st. Additional details and showings are available upon request.
Located in downtown Westville along the city’s revitalizing business district, the building is positioned for retail visibility. The property is also described as providing easy access to major highways and neighboring towns.
For buyers considering an owner-occupant scenario, the remarks note that one of the one-bedroom residential units will be vacant on July 31st. Additional details and showings are available upon request.
Key Highlights
- Mixed‑use downtown building built in 1928 with 2 storefronts and 3 residential apartments
- One retail storefront is currently leased; the other retail space is vacant and ready for a new business
- Separate gas and electric meters for the property’s units
Financial Insights For Apartment 5plus
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 | $79.9k | $22.56 |
| − Vacancy | −$4.6k | −$1.31 |
| EGI | $75.2k | $21.25 |
| − OpEx | −$33.9k | −$9.56 |
| NOI | $41.4k | $11.69 |
3,540 SF · lease $22.56/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$591.1K
$517.2K – $689.6K
NOI $41,377 @ 7.0% cap · market cap 7.88%
Second Best
Retail
$572.5K
$500.9K – $667.9K
NOI $40,072 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,295 @ 7.0% cap · market cap 15.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
FAQs
What type of property is this?
Mixed-use property - Mixed-use downtown building with two storefronts and three residential apartments, including private tenant parking and separate meters.
Where is this mixed-use property located?
The property is located at 189191 Broadway Westville, NJ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Mixed‑use downtown building built in 1928 with 2 storefronts and 3 residential apartments; One retail storefront is currently leased; the other retail space is vacant and ready for a new business; Separate gas and electric meters for the property’s units
