Mixed-Use Building with
235 Centre St #1-5, Nutley, NJ 07110
For Sale
$699,000
Four apartments and a ground-floor commercial space occupy a B-1-zoned property.
Property Size3,570 SF
Price / SF$195.80
Days on Market29
Property Features for 235 Centre St #1-5
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Property Condition
Severity
Evidence
Site & Location
Corner Location
Highway Access
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Building Size
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Keller Williams Village Square
(201) 445-4300
Listed By:
Nekije Rizvani
(551) 206-6698
Source:
Culturaunitedrealty
Added: Oct 12
Changed: Nov 8
Last Checked: Nov 8 at 2:28PM
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 Keller Williams Village Square
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.
At 235 Centre St. in Nutley, this mixed-use property contains approximately 3,570 sq. ft. across four apartments and a small first-floor commercial area. The residential mix comprises three one-bedroom units and one two-bedroom unit. A basement and on-site parking are also part of the property. The building dates to 1915 and is being sold as-is, with substantial rehabilitation or possible removal needed. Two apartments are rented month-to-month.
The property occupies a corner lot and has access to Routes 3 and 21, the Garden State Parkway, and the New Jersey Turnpike. Weekday township jitney service connects with NJ Transit’s Delawanna Station in Clifton. The ON3 campus is nearby.
An active underground oil tank is located in the parking area, and asbestos may be present in the building. Zoning is B-1; buyers should verify legal use, occupancy, permitted uses, building dimensions, and applicable municipal and state requirements.
The property occupies a corner lot and has access to Routes 3 and 21, the Garden State Parkway, and the New Jersey Turnpike. Weekday township jitney service connects with NJ Transit’s Delawanna Station in Clifton. The ON3 campus is nearby.
An active underground oil tank is located in the parking area, and asbestos may be present in the building. Zoning is B-1; buyers should verify legal use, occupancy, permitted uses, building dimensions, and applicable municipal and state requirements.
Key Highlights
- Approximately 3,570 sq. ft. of mixed‑use space
- Four apartments: three 1‑bedroom units and one 2‑bedroom unit
- Ground‑floor commercial space and basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,899
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,097,980
$1.1M
Cap Rate 7%
$784,271
$784.3K
Cap Rate 9%
$609,989
$610.0K
Market Conditions
NOI Build-Up for 3,570 SF
Gross rent
$107.1K $30.00/SF
− Vacancy
−$7.3K −$2.04/SF
EGI
$99.8K $27.96/SF
− OpEx
−$44.9K −$12.58/SF
NOI
$54.9K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,097,980
Cap Rate 7%
$784,271
Cap Rate 9%
$609,989
Alternative Uses
Best Use
Apartment 5plus
$784.3K
$686.2K – $915.0K
NOI $54,899 @ 7.0% cap · market cap 7.85%
Second Best
Mixed Use
$703.8K
$615.8K – $821.1K
NOI $49,266 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$932.2K
$815.7K – $1.09M
NOI $65,254 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,374
Businesses Nearby
Explore this area
Business Placement
Demographics for 07110, NJ
30,149
Population
11,981
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
8,867
Density / Sq Mi
$115,215
Median Household Income
$67,621
Median Earnings
$1,698
Median Rent
$489,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Mixed-use properties in Essex County, NJ
Properties on Market for Mixed-use properties in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four apartments and a ground-floor commercial space occupy a B-1-zoned property.
Where is this mixed-use property located?
The property is located at 235 Centre St #1-5 Nutley, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 3,570 sq. ft. of mixed‑use space; Four apartments: three 1‑bedroom units and one 2‑bedroom unit; Ground‑floor commercial space and basement
