Mixed-Use Commercial
For Sale
Contact for pricing
205 Madison Street, Passaic, NJ 07055
Two-level layout includes commercial space, offices, a full basement, and gymnasium.
Property Size24,000 SF
Price / SF$162.50
Days on Market50
Property Features for 205 Madison Street
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Office, Special Purpose, Mixed Use
Amenities
Gymnasium
Building Details
Buildings
1
Building Size
24,000 SF
Listing Agency:
Nicholas Real Estate Agency
Listed By:
Nicholas Tselepis · License #7821189
(973) 725-3778
Source:
Crexi
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 7:32AM
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 Nicholas Real Estate Agency
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 205 Madison Street near downtown Passaic, this 24,000-square-foot commercial building combines ground-floor commercial areas with second-floor office space. The property also includes a full basement and a gymnasium, creating a varied configuration within one building.
The surrounding area includes downtown shopping, restaurants, and transportation. Residential or mixed-use redevelopment may be possible, subject to municipal approvals and applicable zoning. The building’s existing commercial and office components provide a broad physical foundation for continued commercial use or future planning.
The surrounding area includes downtown shopping, restaurants, and transportation. Residential or mixed-use redevelopment may be possible, subject to municipal approvals and applicable zoning. The building’s existing commercial and office components provide a broad physical foundation for continued commercial use or future planning.
Key Highlights
- 24,000 SF commercial building near downtown Passaic
- Two commercial‑producing 1st floor spaces
- 2nd floor offices within the existing building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$298,080
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,961,600
$6.0M
Cap Rate 7%
$4,258,286
$4.3M
Cap Rate 9%
$3,312,000
$3.3M
Market Conditions
NOI Build-Up for 24,000 SF
Gross rent
$518.4K $21.60/SF
− Vacancy
−$41.5K −$1.73/SF
EGI
$476.9K $19.87/SF
− OpEx
−$178.8K −$7.45/SF
NOI
$298.1K $12.42/SF
Area
Passaic County, NJ
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,961,600
Cap Rate 7%
$4,258,286
Cap Rate 9%
$3,312,000
Alternative Uses
Best Use
Office B
$5.25M
$4.59M – $6.12M
NOI $367,200 @ 7.0% cap · market cap 9.42%
Second Best
Mixed Use
$4.26M
$3.73M – $4.97M
NOI $298,080 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$6.27M
$5.48M – $7.31M
NOI $438,682 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level layout includes commercial space, offices, a full basement, and gymnasium.
Where is this mixed-use property located?
The property is located at 205 Madison Street Passaic, NJ.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: 24,000 SF commercial building near downtown Passaic; Two commercial‑producing 1st floor spaces; 2nd floor offices within the existing building
