Mixed-Use Property with
For Sale
$750,000
32 Mill Rd, Irvington, NJ 07111
Two retail units accompany a two-story, three-bedroom apartment with driveway and backyard.
Property Size3,822 SF
Price / SF$196.23
Days on Market178
Property Features for 32 Mill Rd
General Information
Standard status
Active
Size
3,822 SF
Property subtype
Commercial
Units
Unit Mix
1 x 3BR
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,130
Amenities
drive way
Backyard
Central air
Asphalt Shingle Roof
1 Car Width
2 Units Heating
Blacktop Driveway
Central Air Cooling
Flat Roof
Forced Hot Air Heating
On-Street Parking
Radiators - Steam Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
RE/MAX WELCOME HOME
(732) 549-9500
Listed By:
JAI LEE · License #9232533
(732) 742-1919
Source:
Corcoran
Added: Apr 23
Changed: Oct 16
Last Checked: Oct 16 at 8:48AM
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 WELCOME HOME
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 32 Mill Rd in Irvington Twp., NJ, this 3,822-square-foot mixed-use property combines two retail stores with a residential component. The apartment is two stories and includes 3 bedrooms, a driveway, and a backyard.
Built in 1900, the property offers a combination of commercial and residential space within one building. The retail and apartment components provide a varied configuration for an owner or occupant evaluating a mixed-use asset.
Built in 1900, the property offers a combination of commercial and residential space within one building. The retail and apartment components provide a varied configuration for an owner or occupant evaluating a mixed-use asset.
Key Highlights
- Two retail stores included in the mixed‑use property
- Two‑story apartment with 3 bedrooms
- Driveway and backyard accompany the residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,775
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,175,500
$1.2M
Cap Rate 7%
$839,643
$839.6K
Cap Rate 9%
$653,056
$653.1K
Market Conditions
NOI Build-Up for 3,822 SF
Gross rent
$114.7K $30.00/SF
− Vacancy
−$7.8K −$2.04/SF
EGI
$106.9K $27.96/SF
− OpEx
−$48.1K −$12.58/SF
NOI
$58.8K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,175,500
Cap Rate 7%
$839,643
Cap Rate 9%
$653,056
Alternative Uses
Best Use
Apartment 5plus
$839.6K
$734.7K – $979.6K
NOI $58,775 @ 7.0% cap · market cap 7.84%
Second Best
Retail
$779.3K
$681.9K – $909.2K
NOI $54,552 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$998.0K
$873.3K – $1.16M
NOI $69,860 @ 7.0% cap · market cap 9.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
29k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 48%
Dunkin' Donuts
Dining
5,887 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
4,579 visits/mo
0.1 miles
BP
Shops & Services
4,301 visits/mo
0.4 miles
Family Dollar
Shops & Services
3,325 visits/mo
0.1 miles
Citizens Bank
Shops & Services
2,838 visits/mo
0.1 miles
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two retail units accompany a two-story, three-bedroom apartment with driveway and backyard.
Where is this mixed-use property located?
The property is located at 32 Mill Rd Irvington, 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: Two retail stores included in the mixed‑use property; Two‑story apartment with 3 bedrooms; Driveway and backyard accompany the residential unit
