Building Details

Year Built 1920

Listing Agency: SIGNATURE REALTY NJ

Listed By: SALOME CARRILLO-FIERRO Show Phone

Source: Corcoran

Added: Apr 21, 2025 Changed: Mar 16 Last Checked: Mar 16 at 9:09AM

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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 SIGNATURE REALTY NJ

Investment Insights

Based on property information with market context.

This is a full-service auto repair shop with the real estate included in the purchase price. The shop features heated and air-conditioned bays with room to work on 6 cars inside. There is parking available for 8 cars outside, plus driveway space. The property is 2600 square feet. The sale includes all necessary equipment and a history of current clients.

Key Highlights

• Includes Real Estate
• All necessary equipment included for a full service Auto Repair Shop.
• Room to work on 6 cars inside heated/air conditioned bays.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$37,111

Cap Rate

3.81%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$742,220 $742.2K

Cap Rate 7%

$530,157 $530.2K

Cap Rate 9%

$412,344 $412.3K

Market Conditions

NOI Build-Up for 2,600 SF

Gross rent

$56.2K $21.60/SF

− Vacancy

−$3.1K −$1.21/SF

EGI

$53.0K $20.39/SF

− OpEx

−$15.9K −$6.12/SF

NOI

$37.1K $14.27/SF

Area

Union County, NJ

Vacancy

5.60%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$742,220

Cap Rate 7%

$530,157

Cap Rate 9%

$412,344

Alternative Uses

Best Use

Retail

$530.2K

$463.9K – $618.5K (±1% cap)

NOI $37,111 @ 7.0% cap · market cap 3.81%

Second Best

Industrial

$416.9K

$364.8K – $486.4K (±1% cap)

NOI $29,183 @ 7.0% cap · market cap 2.99%

Theoretical Best

Office A

$678.9K

$594.1K – $792.1K (±1% cap)

NOI $47,524 @ 7.0% cap · market cap 4.87%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Esmar Auto Repair Auto Repair Shop Integrity Auto Repair Shop

Suggested Use

Top Pick Law Firm (Bike/Boat/Book/etc) Store Acupuncture Parking Lot & Garage Discount Store Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

826

Businesses Nearby

5k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Home Improvements & Furnishings 62% Dining 38%

Johnstone Supply Home Improvements & Furnishings

3,110 visits/mo 0.3 miles

Cha Cha Cha Dining

1,946 visits/mo 0.0 miles

Demographics for 07033, NJ

8,427

Population

3,058

Households

2.8

Avg Household Size

41

Median Age

34%

College-Educated

91%

High-School Grad

2.1 sq mi

ZIP Area

4,013

Density / Sq Mi

$126,295

Median Household Income

$50,172

Median Earnings

$2,119

Median Rent

$521,100

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Auto shop - Full-service auto repair shop with equipment and client history included.

Where is this auto shop located?

The property is located at 305 S Michigan Ave Kenilworth, NJ.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Includes Real Estate; All necessary equipment included for a full service Auto Repair Shop.; Room to work on 6 cars inside heated/air conditioned bays.