10-Unit Mixed-Use
New
For Sale
$2,300,000
197 North Ave, Plainfield, NJ 07060
Multi-Family, Plainfield City, NJ
Property Size9,120 SF
Price / SF$252.19
Days on Market5
Property Features for 197 North Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
20
Bathrooms
8
Full bathrooms
7
Half bathrooms
3
Rooms
Bedroom 16, Bedroom 20, Bedroom 1, Bathroom 3, Bedroom 9, Bathroom 4, Bedroom 18, Bathroom 1, Bedroom 3, Bedroom 8, Bedroom 7, Bedroom 11, Bedroom 15, Bedroom 4, Bedroom 2, Bedroom 12, Bathroom 2, Bedroom 14, Bedroom 5, Bedroom 6, Basement, Bedroom 19, Bedroom 17, Bedroom 10, Bedroom 13
Directions
Watchung ave to north ave
Standard status
Active
Size
9,120 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
21383
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1894
Number of units
4
Roof type
Rubber
Listing Agency:
RE/MAX CENTRAL · Realty Executives International
(732) 972-1000
Listed By:
BRIAN FERNANDES · License #1648316
(908) 764-9878
Added: Oct 8
Last Checked: Oct 12 at 11:06PM
MLS# 4057747
Copyright © 2026 Garden State MLS, LLC. 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.
The 9,120-square-foot property at 197 North Ave includes 10 units: seven apartments with three bedrooms and one bathroom each, plus three commercial units. Built in 1894, the building has a rubber roof and is served by public water and public sewer.
Plainfield Station is directly across from the property, providing nearby NJ Transit access. The address is in Plainfield City, Union County, New Jersey.
Plainfield Station is directly across from the property, providing nearby NJ Transit access. The address is in Plainfield City, Union County, New Jersey.
Key Highlights
- 10 units: 7 apartments and 3 commercial units
- Each apartment has 3 bedrooms and 1 bathroom
- 9,120 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,260
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,065,200
$3.1M
Cap Rate 7%
$2,189,429
$2.2M
Cap Rate 9%
$1,702,889
$1.7M
Market Conditions
NOI Build-Up for 9,120 SF
Gross rent
$315.2K $34.56/SF
− Vacancy
−$70.0K −$7.67/SF
EGI
$245.2K $26.89/SF
− OpEx
−$92.0K −$10.08/SF
NOI
$153.3K $16.80/SF
Area
Somerset County, NJ
Vacancy
22.20%
Lease Rate
$34.56 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,065,200
Cap Rate 7%
$2,189,429
Cap Rate 9%
$1,702,889
Alternative Uses
Best Use
Mixed Use
$2.19M
$1.92M – $2.55M
NOI $153,260 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,281 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,699 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,298
Businesses Nearby
Explore this area
Business Placement
Demographics for 07060, NJ
48,423
Population
16,154
Households
3
Avg Household Size
35
Median Age
22%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
9,685
Density / Sq Mi
$72,882
Median Household Income
$32,867
Median Earnings
$1,629
Median Rent
$369,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Seven apartments and three commercial spaces combine residential and commercial occupancy in one property.
Where is this mixed-use property located?
The property is located at 197 North Ave Plainfield, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 10 units: 7 apartments and 3 commercial units; Each apartment has 3 bedrooms and 1 bathroom; 9,120 square feet
