Palisade Park Multifamily Investment
325 Grantwood Blvd, Palisades Park, NJ 07650
Value-add multifamily property in desirable Palisade Park, New Jersey.
Type:Multifamily
Property size:
10,000 SFLot size:
0.51 AcresPrice / SF:
$251/SF- Added:
- Jan 22, 2026
- Days on Market:
- 119
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 325 Grantwood Blvd
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Lot size
- 0.51 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agent Kevin Taub License #NJ 1111228
Listing office Marcus & Millichap - New Jersey
Listing date Jan 22, 2026
Source Crexi
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 Marcus & Millichap - New Jersey
HighLights
- Significant upside potential with projected rental and NOI increases.
- Increase cap rate from 5.75% to 7.02% for a compelling 6.69% cash‑on‑cash return.
- Located in Palisade Park, a strong Bergen County municipality with high income demographic.
- Favorable rent control ordinances allow for 4% annual increases and rent adjustments upon vacancy.
- Well‑maintained, value‑add, brick, garden‑style apartment building with 12 apartments.
- Includes 11 private garages, storage facilities, on‑site laundry, and additional parking.
Overview
Located at 325 Grantwood Blvd in Palisade Park, Bergen County, New Jersey, this well-maintained, value-add apartment building is a two-story, brick, garden-style walk-up. Constructed on a 0.506-acre lot, the property features 12 apartments, 11 private garages, storage facilities, and a laundry room equipped with 2 washers and 2 dryers, as well as additional on-site parking. The unit mix includes eight 1-bedroom/1-bath apartments and four 2-bedroom/1-bath apartments. Palisade Park exhibits strong demographics, with a median household income of $132,427 and nearly 30% of households reporting incomes of $150,000 or more. The owner occupancy rate is between 32% and 37%, indicating a significant rental-oriented housing stock due to a high barrier of entry for homebuyers, with a median home price of $704,000. The average commute time for workers in the municipality is 32 minutes, appealing to both local workers and those commuting into NYC. Favorable rent control ordinances allow for 4% annual increases, and rents can be increased to the average of comparable units in the municipality or the highest rent paid by a comparable unit in the same building upon vacancy. The property represents a solid investment with minimal maintenance requirements, strong market demographics, and future upside potential of 20% on the gross rental income and an estimated 22% increase in the NOI. The current cap rate of 5.75% can be increased to 7.02%, offering investors a compelling future cash-on-cash return of 6.69%. The property size is approximately 10000 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.71M
NOI $153,780 @ 9.00% cap · cautious / downside scenario
Moderate
$2.20M
NOI $153,780 @ 7.00% cap · market / base-case scenario
Aggressive
$3.08M
NOI $153,780 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $300.0k | $30.00 |
| − Vacancy | −$20.4k | −$2.04 |
| EGI | $279.6k | $27.96 |
| − OpEx | −$125.8k | −$12.58 |
| NOI | $153.8k | $15.38 |
10,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.20M
$1.92M – $2.56M
NOI $153,780 @ 7.0% cap · market cap 6.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.61M
$2.28M – $3.05M
NOI $182,784 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Palisades Park
- County
- Bergen
- State
- New Jersey
- Longitude
- -73.9923426
- Latitude
- 40.8402599
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Value-add multifamily property in desirable Palisade Park, New Jersey.
Where is this apartment building located?
The property is located at 325 Grantwood Blvd Palisades Park, NJ.
What is the asking price?
The asking price for this property is $2,510,000.
What are key features of this property?
This property features: Significant upside potential with projected rental and NOI increases.; Increase cap rate from 5.75% to 7.02% for a compelling 6.69% cash‑on‑cash return.; Located in Palisade Park, a strong Bergen County municipality with high income demographic.
