Mixed-Use Property with Commercial
For Sale
$699,000
283 Belmont Ave, Haledon, NJ 07508
Mixed-use property featuring residential apartments and commercial space.
Property Size2,000 SF
Lot Size0.06 Acres
Price / SF$349.50
Days on Market348
Property Features for 283 Belmont Ave
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.06 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$14,520
Amenities
Central air
Asphalt Shingle Roof
Baseboard - Hotwater Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1950
Listing Agency:
KELLER WILLIAMS PARK VIEWS
(201) 939-0050
Listed By:
RYAN GWYNN
Source:
Corcoran
Added: Sep 9, 2025
Changed: Aug 21
Last Checked: Aug 21 at 7:04AM
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 PARK VIEWS
Investment Insights
Based on property information with market context.
This mixed-use property features two residential apartments, each with 2 bedrooms and 1 bathroom, situated above 2,000 square feet of commercial space. The commercial space includes a half bath and access to a backyard. The commercial space will be delivered vacant at closing, making it suitable for an owner-user or investor. A NJ Transit bus stop is located directly in front of the property, and it is located minutes from William Paterson University.
Key Highlights
- Mixed‑use property with two residential apartments and a large commercial space
- Commercial space delivered vacant, suitable for owner‑user or investor
- Excellent visibility and convenience due to NJ Transit bus stop directly in front**
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
$33,472
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
4.79%
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%
$669,440
$669.4K
Cap Rate 7%
$478,171
$478.2K
Cap Rate 9%
$371,911
$371.9K
Market Conditions
NOI Build-Up for 2,000 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
$51.1K $25.56/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.8K $23.91/SF
− OpEx
−$14.3K −$7.17/SF
NOI
$33.5K $16.74/SF
Area
Passaic County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$669,440
Cap Rate 7%
$478,171
Cap Rate 9%
$371,911
Alternative Uses
Best Use
Multifamily LT 5
$478.2K
$418.4K – $557.9K
NOI $33,472 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 07508, NJ
23,959
Population
8,608
Households
2.8
Avg Household Size
39
Median Age
30%
College-Educated
89%
High-School Grad
5.0 sq mi
ZIP Area
4,792
Density / Sq Mi
$94,611
Median Household Income
$47,295
Median Earnings
$1,749
Median Rent
$444,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring residential apartments and commercial space.
Where is this mixed-use property located?
The property is located at 283 Belmont Ave Haledon, 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: Mixed‑use property with two residential apartments and a large commercial space; Commercial space delivered vacant, suitable for owner‑user or investor; Excellent visibility and convenience due to NJ Transit bus stop directly in front**
