Palisade Park Multifamily Investment
For Sale
Contact for pricing
325 Grantwood Blvd, Palisades Park, NJ 07650
Value-add multifamily property in desirable Palisade Park, New Jersey.
Property Size10,000 SF
Lot Size0.51 Acres
Price / SF$251
Days on Market199
Property Features for 325 Grantwood Blvd
General Information
Standard status
Active
Size
10,000 SF
Lot size
0.51 Acres
Property subtype
Multifamily
Investment Type
Value Add
Net Operating Income
$144,418
Building Details
Year Built
1920
Stories
2
Units
12
Listing Agency:
Marcus & Millichap - New Jersey
(201) 742-6132
Listed By:
Kevin Taub · License #NJ 1111228
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$153,780
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,744
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
