Palisade Park Multifamily Investment
325 Grantwood Blvd, Palisades Park, NJ 07650
For Sale
Contact for pricing
Value-add multifamily property in desirable Palisade Park, New Jersey.
Property Size10,000 SF
Lot Size0.51 Acres
Price / SF$251
Days on Market297
Property Features for 325 Grantwood Blvd
General Information
Standard status
Size
Lot size
Property subtype
Investment Type
Net Operating Income
Building Details
Year Built
Stories
Units
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Kevin Taub · License NJ #1111228
(201) 742-6132
Source:
Crexi
Added: Jan 22
Changed: Aug 8
Last Checked: Aug 8 at 6:26AM
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
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Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,780
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,075,600
$3.1M
Cap Rate 7%
$2,196,857
$2.2M
Cap Rate 9%
$1,708,667
$1.7M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$300.0K $30.00/SF
− Vacancy
−$20.4K −$2.04/SF
EGI
$279.6K $27.96/SF
− OpEx
−$125.8K −$12.58/SF
NOI
$153.8K $15.38/SF
Area
Bergen 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%
$3,075,600
Cap Rate 7%
$2,196,857
Cap Rate 9%
$1,708,667
Alternative Uses
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,693
Businesses Nearby
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Business Placement
Demographics for 07650, NJ
20,292
Population
7,612
Households
2.7
Avg Household Size
40
Median Age
54%
College-Educated
90%
High-School Grad
1.2 sq mi
ZIP Area
16,910
Density / Sq Mi
$101,295
Median Household Income
$50,817
Median Earnings
$1,976
Median Rent
$704,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Bergen County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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.
