Renovated Retail Property in
For Sale
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216 Orange Avenue, Irvington, NJ 07111
Fully renovated retail property built in 1950, renovated in 2025.
Property Size5,262 SF
Price / SF$152.03
Days on Market102
Property Features for 216 Orange Avenue
General Information
Standard status
Active
Size
5,262 SF
Total Parking Spaces
6
Property subtype
Retail, Multifamily, Mixed Use
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$60,882
Building Details
Year Built
1950
Year Renovated
2025
Units
5
Tenancy
Multi
Listing Agency:
KW Commercial
Listed By:
Bruce Elia · License #NJ 0893523
Source:
Crexi
Added: May 18
Changed: Aug 8
Last Checked: Aug 26 at 10:06AM
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 KW Commercial
Investment Insights
Based on property information with market context.
This 5,262 SF retail property, located in Irvington, NJ, presents an investment opportunity. Constructed in 1950 and fully renovated in 2025, the building offers a setting for retail and street retail enterprises. The property is 100% occupied. Its location in the Irvington area provides visibility and accessibility, attracting customer traffic. The property is situated in a thriving retail environment.
Key Highlights
- Fully renovated in 2025, offering a modern and attractive retail space
- 100% occupancy, providing a compelling income‑generating asset
- Prime location in Irvington, NJ, ensuring high visibility and accessibility
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
$72,616
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
9.08%
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%
$1,452,320
$1.5M
Cap Rate 7%
$1,037,371
$1.0M
Cap Rate 9%
$806,844
$806.8K
Market Conditions
NOI Build-Up for 5,262 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
$126.3K $24.00/SF
− Vacancy
−$10.1K −$1.92/SF
EGI
$116.2K $22.08/SF
− OpEx
−$43.6K −$8.28/SF
NOI
$72.6K $13.80/SF
Area
Essex County, NJ
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,452,320
Cap Rate 7%
$1,037,371
Cap Rate 9%
$806,844
Alternative Uses
Best Use
Retail
$1.07M
$938.8K – $1.25M
NOI $75,106 @ 7.0% cap · market cap 9.39%
Second Best
Mixed Use
$1.04M
$907.7K – $1.21M
NOI $72,616 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,181 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,679
Businesses Nearby
46k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 28%
Groceries 18%
Electronics 3%
McDonald's
Dining
23,327 visits/mo
0.4 miles
Sunoco
Shops & Services
10,987 visits/mo
0.4 miles
C-Town Supermarkets
Groceries
8,426 visits/mo
0.4 miles
Citizens Bank
Shops & Services
2,111 visits/mo
0.4 miles
Boost Mobile
Electronics
1,195 visits/mo
0.5 miles
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
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?
Retail property - Fully renovated retail property built in 1950, renovated in 2025.
Where is this retail property located?
The property is located at 216 Orange Avenue Irvington, NJ.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Fully renovated in 2025, offering a modern and attractive retail space; 100% occupancy, providing a compelling income‑generating asset; Prime location in Irvington, NJ, ensuring high visibility and accessibility
