Mixed-Use Redevelopment
285 Monroe St Passaic, NJ 07055
285 Monroe St, Passaic, NJ, 07055
$2,500,000
For Sale
$2,500,000
Mixed-use redevelopment property on Monroe Street in Passaic, designed for repositioning with interim income potential.
Property Size6,708 SF
Price / SF$372.69
Days on Market73
Property Features for 285 Monroe St
General Information
- Standard status
- Active
- Size
- 6,708 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1925
Listing agency
PRESTIGE PROPERTY GROUP MONTCLAIR
(973) 860-7595
Listed by
JOSEPH AZIZ
Source
Corcoran
Added: May 10 Updated: Jul 21 at 12:51AM Checked: Jul 21 at 5:25AM
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 PRESTIGE PROPERTY GROUP MONTCLAIR
Investment Insights
Based on property information with market context.
281–285 Monroe Street is a mixed-use property offered for sale as a value-add redevelopment opportunity. The existing configuration supports interim income potential while the primary value is driven by the site’s land position and redevelopment potential supported by local zoning.
The property is situated along the active Monroe Street corridor within an area that includes residential buildings, neighborhood retail, and established commercial activity. This setting offers day-to-day retail presence and connections to major transportation routes, supporting access to Northern New Jersey employment centers and New York City.
The property is situated along the active Monroe Street corridor within an area that includes residential buildings, neighborhood retail, and established commercial activity. This setting offers day-to-day retail presence and connections to major transportation routes, supporting access to Northern New Jersey employment centers and New York City.
Key Highlights
- Mixed‑use redevelopment property at 281–285 Monroe Street in Passaic
- Year built: 1925
- Positioned along the active Monroe Street corridor for repositioning and development
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $144.9k | $21.60 |
| − Vacancy | −$8.1k | −$1.21 |
| EGI | $136.8k | $20.39 |
| − OpEx | −$41.0k | −$6.12 |
| NOI | $95.7k | $14.27 |
6,708 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.37M
$1.20M – $1.60M
NOI $95,745 @ 7.0% cap · market cap 3.83%
Second Best
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,313 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,612 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Mixed-use redevelopment property on Monroe Street in Passaic, designed for repositioning with interim income potential.
Where is this mixed-use property located?
The property is located at 285 Monroe St Passaic, NJ.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Mixed‑use redevelopment property at 281–285 Monroe Street in Passaic; Year built: 1925; Positioned along the active Monroe Street corridor for repositioning and development
