Flex Space with Loading
For Sale
$750,000
29 Summit Ave, Clifton, NJ 07013
Non-conforming light industrial space combines offices with additional workspace and a rear loading dock.
Property Size2,400 SF
Days on Market124
Property Features for 29 Summit Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
RB2
Building Details
Building Size
2,400 SF
Stories
1
Units
2
Listing Agency:
Howard Hanna Rand Realty
(973) 694-6500
Listed By:
Jose Perez
(973) 694-6500
Source:
Betterhomerealestate
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 29 at 12:20AM
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 Howard Hanna Rand Realty
Investment Insights
Based on property information with market context.
This 2,400 sq. ft. flex space is configured as a non-conforming light industrial property within a residential area. The layout includes 1,000 sq. ft. of office space along with additional workspace, supporting a range of small-business and contractor operations. A loading dock at the rear adds practical functionality for receiving and handling materials.
Located at 29 Summit Ave in Clifton, NJ, the property is a short drive from New York City. Zoning is RB2, and the space is currently leased on a month-to-month basis, providing a defined existing occupancy arrangement and lease flexibility.
Located at 29 Summit Ave in Clifton, NJ, the property is a short drive from New York City. Zoning is RB2, and the space is currently leased on a month-to-month basis, providing a defined existing occupancy arrangement and lease flexibility.
Key Highlights
- 2,400 sq. ft. non‑conforming light industrial property
- 1,000 sq. ft. of office space plus additional workspace
- Rear loading dock for material handling
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
$27,518
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
3.67%
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%
$550,360
$550.4K
Cap Rate 7%
$393,114
$393.1K
Cap Rate 9%
$305,756
$305.8K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$864 −$0.36/SF
EGI
$42.3K $17.64/SF
− OpEx
−$14.8K −$6.17/SF
NOI
$27.5K $11.47/SF
Area
Passaic County, NJ
Vacancy
2.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$550,360
Cap Rate 7%
$393,114
Cap Rate 9%
$305,756
Alternative Uses
Best Use
Flex RnD
$393.1K
$344.0K – $458.6K
NOI $27,518 @ 7.0% cap · market cap 3.67%
Second Best
Industrial
$384.8K
$336.7K – $449.0K
NOI $26,938 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$626.7K
$548.4K – $731.1K
NOI $43,868 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07013, NJ
28,843
Population
12,005
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
91%
High-School Grad
4.4 sq mi
ZIP Area
6,555
Density / Sq Mi
$119,291
Median Household Income
$59,413
Median Earnings
$1,696
Median Rent
$462,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Non-conforming light industrial space combines offices with additional workspace and a rear loading dock.
Where is this flex space located?
The property is located at 29 Summit Ave Clifton, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,400 sq. ft. non‑conforming light industrial property; 1,000 sq. ft. of office space plus additional workspace; Rear loading dock for material handling
