Mixed-Use Property with Residential
For Sale
$649,900
Pending
301 E 9Th Ave, Roselle, NJ 07203
Three-unit property with commercial and residential income potential.
Property Size2,604 SF
Days on Market113
Property Features for 301 E 9Th Ave
General Information
Standard status
Pending
Size
2,604 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,955
Amenities
Central air
Asphalt Shingle Roof
1 Car Width
3 Units Heating
Corner
Wall A/C Unit(s) Cooling
Building Details
Year Built
1920
Listing Agency:
RE/MAX FIRST REALTY II
(908) 664-1500
Listed By:
OLIVIER LOUIS · License #448560
(908) 543-4143
Source:
Corcoran
Added: May 15
Changed: Sep 4
Last Checked: Sep 1 at 10:38PM
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 RE/MAX FIRST REALTY II
Investment Insights
Based on property information with market context.
This well-maintained three-unit mixed-use property offers both residential and commercial income. The first floor is occupied by a neighborhood convenience store, providing steady foot traffic and reliable rental income. The second floor features a spacious, updated three-bedroom apartment, while the third floor features an updated one-bedroom unit. Both residential units are currently vacant, allowing flexibility for an owner occupant or the ability to select a new tenant. Major improvements were completed in 2019, including a new roof and new siding, mostly new windows. The building has separate utilities, with tenants paying their own heat, gas, and electric, minimizing owner expenses. There is also a one-car garage. The property qualifies for FHA financing due to the greater residential square footage, making it an ideal choice for an investor or owner occupant looking to live in one unit and let the other tenants pay the mortgage. The bike score is 49, indicating it is somewhat bikeable, the walk score is 39, indicating it is car-dependent, and the transit score is 47, indicating some transit options are available. This property represents a solid investment in a strong rental market.
Key Highlights
- Qualifies for FHA financing due to greater residential square footage, ideal for owner occupant.
- Mixed‑use property with commercial (convenience store) and residential income streams.
- Major improvements completed in 2019: new roof, new siding, mostly new windows.
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
$43,581
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
6.71%
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%
$871,620
$871.6K
Cap Rate 7%
$622,586
$622.6K
Cap Rate 9%
$484,233
$484.2K
Market Conditions
NOI Build-Up for 2,604 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
$66.6K $25.56/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$62.3K $23.91/SF
− OpEx
−$18.7K −$7.17/SF
NOI
$43.6K $16.74/SF
Area
Union 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%
$871,620
Cap Rate 7%
$622,586
Cap Rate 9%
$484,233
Alternative Uses
Best Use
Multifamily LT 5
$622.6K
$544.8K – $726.4K
NOI $43,581 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.4K
NOI $40,044 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$680.0K
$595.0K – $793.3K
NOI $47,597 @ 7.0% cap · market cap 7.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 07203, NJ
22,715
Population
8,430
Households
2.7
Avg Household Size
39
Median Age
26%
College-Educated
85%
High-School Grad
2.6 sq mi
ZIP Area
8,737
Density / Sq Mi
$82,967
Median Household Income
$45,458
Median Earnings
$1,499
Median Rent
$336,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-unit property with commercial and residential income potential.
Where is this mixed-use property located?
The property is located at 301 E 9Th Ave Roselle, NJ.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Qualifies for FHA financing due to greater residential square footage, ideal for owner occupant.; Mixed‑use property with commercial (convenience store) and residential income streams.; Major improvements completed in 2019: **new roof, new siding, mostly new windows.**
