Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Property in Busy District Title is generated by Realmo AI

    32 Washington Ave, Belleville, NJ 07109

    View on Map
    Claim this Listing
    For Sale
    $2,400,000

    Commercial property in a busy business district, potential storage space.

    Type:Commercial
    Lot size:
    0.11 Acres
    Added:
    Jan 19, 2026
    Days on Market:
    136
    Last Refresh:
    Apr 5 at 8:25 pm

    Property Features for 32 Washington Ave

    General Information

    Standard status
    Active
    Lot size
    0.11 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    GEORGE PERRONE

    Listing agent GEORGE PERRONE

    Listing office CENTURY 21 GEBA REALTY

    Listing date Jan 19, 2026

    Source Corcoran

    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 CENTURY 21 GEBA REALTY

    HighLights

    • Located in a busy business district
    • Property can be used as storage space
    • Currently used as a used car lot
    • Rare find
    • Buyer to do all due diligence with zoning department

    Overview

    This commercial property is situated in a busy business district and is currently used as a used car lot. The property offers potential for use as storage space. Prospective buyers are advised to conduct their own due diligence with the zoning department to verify permitted uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Parking lots & garages

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Enterprise Rent-A-Car — 2052 McCarter Hwy, Newark, NJ 07104
    • Jersey Limousine — 68 Montclair Ave, Newark, NJ 07104
    • U-Haul Moving & Storage of North Newark — 830 Broadway, Newark, NJ 07104
    • U-Haul Trailer Hitch Super Center of Newark — 828 Broadway, Newark, NJ 07104
    • Enterprise Truck Rental — 2052 McCarter Hwy, Newark, NJ 07104

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1539
    Latitude
    40.7822

    Nearby Similar for Sale

    • $1,800,000
      2,700 SF

      Modern Multifamily Asset in Belleville

      Income-producing 6-unit property built in 2020 with modern finishes.
      55 Watchung Ave, Belleville Twp., NJ 07109-1113
      View Details
    • $1,100,000
      3,766 SF

      Belleville Mixed-Use Medical Office

      Renovated mixed-use property with commercial and residential potential.
      431 Washington Ave, Belleville Twp., NJ 07109-2618
      View Details
    • $300,000
      3,069 SF

      Established Laundromat Business For Sale

      Well-maintained laundromat business on a high-traffic street in Belleville.
      129 WASHINGTON AVE, Belleville, NJ 07109
      View Details
    • $779,000

      Fourplex Rental Property with Conversion Potential

      Four individual rental units with separate living spaces, supporting continued rental use and possible future reconfiguration.
      12 Frederick St, Belleville Twp., NJ 07109-1199
      View Details
    • $679,000
      2,480 SF

      Multi-Family Property with Detached Garages

      Investment opportunity with multiple units and detached garages.
      67 Heckel Street, Belleville Twp., NJ 07109
      View Details
    • $649,000

      Spacious Multi-Unit Property in Belleville

      Three-unit property near NYC transportation, ideal for owners or investors.
      76 Heckel St, Belleville Twp., NJ 07109-4059
      View Details
    • $949,900

      Well-Maintained Belleville Fourplex For Sale

      Spacious four-family property near transportation, shopping, and schools.
      12 Harrison St, Belleville Twp., NJ 07109-4225
      View Details
    • $475,000
      1,000 SF

      Belleville Retail Building For Sale

      Retail building in high-traffic Belleville location, ideal for investment.
      504 Washington, Belleville, NJ 07109
      View Details
    • $679,900

      Belleville Two-Family Home on Double Lot

      Spacious two-family home on a double lot in Belleville.
      229 Brighton Ave, Belleville Twp., NJ 07109-3518
      View Details
    • $659,000

      Belleville Twp. Multi-Family Property

      Well-maintained two-family property near transportation, shopping, and schools.
      394 Cortlandt St, Belleville Twp., NJ 07109-3204
      View Details
    • $749,900

      Renovated Two-Family Property in Belleville

      Fully renovated two-family property with modern amenities and convenient location.
      182 Union Ave, Belleville Twp., NJ 07109-2067
      View Details
    • $1,200,000
      5,500 SF

      Belleville Commercial Property For Sale

      Large commercial property with development potential in Belleville, NJ.
      94 Bridge St, Belleville Twp., NJ 07109
      View Details

    FAQs

    What type of property is this?
    Parking lot & garage - Commercial property in a busy business district, potential storage space.
    Where is this parking lot & garage located?
    The property is located at 32 Washington Ave Belleville, NJ.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Located in a busy business district; Property can be used as storage space; Currently used as a used car lot
    (973) 726-0333
    We can help!
    Listing Contact
    GEORGE PERRONE
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    32 Washington Ave, Belleville Twp., NJ 07109
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!