Renovated Mixed-Use Property with
For Sale
$1,200,000
Pending
190 Stevens Ave, Little Falls, NJ 07424
Showroom with offices and two renovated apartments near NYC transportation.
Property Size4,000 SF
Days on Market144
Property Features for 190 Stevens Ave
General Information
Standard status
Pending
Size
4,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,732
Amenities
Asphalt Shingle Roof
Blacktop Driveway
Level Lot
Off-Street Parking
Listing Agency:
RE/MAX WEST
(973) 239-6500
Listed By:
RAY ALBANESE · License #233242
Source:
Corcoran
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 23 at 7:02AM
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 RE/MAX WEST
Investment Insights
Based on property information with market context.
This is a mixed-use property featuring a showroom with a full bath and multiple office spaces. The property also includes two recently renovated apartments. One apartment is a large three-bedroom unit with a den that can serve as a fourth bedroom, a spacious living room, a large updated modern kitchen, a bright eating area, an entry foyer, double closets, a laundry room with hookups, and an updated full bath. The second apartment has two bedrooms, an updated modern kitchen, and an updated full bath. The property offers parking and is located conveniently near NYC transportation, including train and bus access. The building size is 4000 square feet. The property is currently used as a showroom and offers rental income potential, presenting an investment opportunity.
Key Highlights
- Tremendous rental income and great investment opportunity.
- Two recently renovated apartments (3‑bedroom and 2‑bedroom).
- Convenient location to NYC transportation (train and bus).
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
$57,093
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
4.76%
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%
$1,141,860
$1.1M
Cap Rate 7%
$815,614
$815.6K
Cap Rate 9%
$634,367
$634.4K
Market Conditions
NOI Build-Up for 4,000 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
$86.4K $21.60/SF
− Vacancy
−$4.8K −$1.21/SF
EGI
$81.6K $20.39/SF
− OpEx
−$24.5K −$6.12/SF
NOI
$57.1K $14.27/SF
Area
Passaic County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$1,141,860
Cap Rate 7%
$815,614
Cap Rate 9%
$634,367
Alternative Uses
Best Use
Retail
$815.6K
$713.7K – $951.6K
NOI $57,093 @ 7.0% cap · market cap 4.76%
Second Best
Mixed Use
$709.7K
$621.0K – $828.0K
NOI $49,680 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,114 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
23k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 70%
Dining 30%
QuickChek
Shops & Services
16,088 visits/mo
0.5 miles
Dunkin' Donuts
Dining
6,981 visits/mo
0.5 miles
Demographics for 07424, NJ
26,776
Population
11,243
Households
2.4
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
5.7 sq mi
ZIP Area
4,698
Density / Sq Mi
$104,122
Median Household Income
$47,894
Median Earnings
$1,771
Median Rent
$477,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Showroom with offices and two renovated apartments near NYC transportation.
Where is this mixed-use property located?
The property is located at 190 Stevens Ave Little Falls, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Tremendous rental income and great investment opportunity.; Two recently renovated apartments (3‑bedroom and 2‑bedroom).; Convenient location to NYC transportation (train and bus).
