Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Opportunity in Essex County Title is generated by Realmo AI

    20 Washington Ave, Belleville, NJ 07109

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $850,000

    Two adjacent parcels with development potential in Belleville Twp.

    Added:
    Mar 7, 2026
    Days on Market:
    76
    Last Refresh:
    Mar 16 at 11:13 am

    Property Features for 20 Washington Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    BARBARA LOPEZ

    Listing agent BARBARA LOPEZ

    Listing office REALTY ONE GROUP LEGEND

    Listing date Mar 7, 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 REALTY ONE GROUP LEGEND

    HighLights

    • Two adjacent parcels being sold together, creating a larger footprint.
    • Potential for a multifamily or mixed‑use development concept (possibly up to 16 units).
    • Oversized lot for the area.
    • Opportunity for ground‑up development.
    • Attractive opportunity for experienced builders or investors.
    • Located in a growing Essex County market.

    Overview

    This offering comprises two adjacent parcels, available for sale as a single unit, which creates a substantial footprint suitable for a future development project. The site's size and configuration may accommodate a multifamily or mixed-use development, potentially supporting up to approximately 16 units. However, this is contingent upon the buyer's thorough due diligence, zoning verification, and the necessary municipal approvals. Lot #8502 measures approximately 105 x 50, with taxes amounting to $4,676.63. Lot #2.01 has approximate dimensions of 99.94 x 34.9, and its taxes are $1,941.21. The combined lots offer an oversized area relative to others in the vicinity, presenting an opportunity for ground-up development. This property represents an attractive opportunity for experienced builders or investors seeking land in a growing Essex County market.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1539994
    Latitude
    40.7818091

    Nearby Similar for Sale

    • $1,800,000
      2,700 SF

      Modern Multifamily Asset in Belleville

      Income-producing 6-unit property built in 2020 with modern finishes.
      55 Watchung Ave, Belleville Twp., NJ 07109-1113
      View Details
    • $1,100,000
      3,766 SF

      Mixed-Use Property in Belleville

      Renovated mixed-use property with commercial and residential potential.
      431 Washington Ave, Belleville Twp., NJ 07109-2618
      View Details
    • $300,000
      3,069 SF

      Established Laundromat Business For Sale

      Well-maintained laundromat business on a high-traffic street in Belleville.
      129 WASHINGTON AVE, Belleville, NJ 07109
      View Details
    • $679,000
      2,480 SF

      Multi-Family Property with Detached Garages

      Investment opportunity with multiple units and detached garages.
      67 Heckel Street, Belleville Twp., NJ 07109
      View Details
    • $649,000

      Spacious Multi-Unit Property in Belleville

      Three-unit property near NYC transportation, ideal for owners or investors.
      76 Heckel St, Belleville Twp., NJ 07109-4059
      View Details
    • $949,900

      Well-Maintained Belleville Fourplex For Sale

      Spacious four-family property near transportation, shopping, and schools.
      12 Harrison St, Belleville Twp., NJ 07109-4225
      View Details
    • $475,000
      1,000 SF

      Belleville Retail Building For Sale

      Retail building in high-traffic Belleville location, ideal for investment.
      504 Washington, Belleville, NJ 07109
      View Details
    • $679,900

      Belleville Two-Family Home on Double Lot

      Spacious two-family home on a double lot in Belleville.
      229 Brighton Ave, Belleville Twp., NJ 07109-3518
      View Details
    • $850,000

      Development Opportunity in Belleville Township

      Two adjacent parcels with potential for multifamily or mixed-use development.
      20-22 Washington Ave, Belleville Twp., NJ 07109-2923
      View Details
    • $1,200,000
      5,500 SF

      Belleville Commercial Property For Sale

      Large commercial property with development potential in Belleville, NJ.
      94 Bridge St, Belleville Twp., NJ 07109
      View Details
    • $659,000

      Belleville Twp. Multi-Family Property

      Well-maintained two-family property near transportation, shopping, and schools.
      394 Cortlandt St, Belleville Twp., NJ 07109-3204
      View Details
    • $229,900

      Residential Lot in Belleville Township

      Vacant lot for custom home in established neighborhood.
      85 Ralph St, Belleville Twp., NJ 07109-3230
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two adjacent parcels with development potential in Belleville Twp.
    Where is this commercial land located?
    The property is located at 20 Washington Ave Belleville, NJ.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: Two adjacent parcels being sold together, creating a larger footprint.; Potential for a multifamily or mixed‑use development concept (possibly up to 16 units).; Oversized lot for the area.
    (973) 686-7777
    We can help!
    Listing Contact
    BARBARA LOPEZ
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    20 Washington Ave, Belleville Twp., NJ 07109
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!