Two-Story Residential Income
For Sale
$1,099,000
Pending
330 Academy St, South Orange, NJ 07079
Built in 1922, the property includes finished lower-level space with walk-out access and natural gas.
Property Size4,560 SF
Days on Market65
Property Features for 330 Academy St
General Information
Standard status
Pending
Size
4,560 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$20,271
Amenities
Natural Gas
Finished, Full, Walk-Out Access
Off Street
2-Two Story, Under/Over
Building Details
Year Built
1922
Stories
2
Listing Agency:
Coldwell Banker Realty
Listed By:
KATHERINE ELLIOTT · License #290357
(646) 662-6655
Source:
Evrealestate
Added: Sep 1
Changed: Oct 26
Last Checked: Nov 3 at 5:02AM
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 Coldwell Banker Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property at 330 Academy St in South Orange Village Township was built in 1922 and contains 4,560 square feet. The two-story building has finished full-basement space with walk-out access, natural gas, and off-street parking.
Key Highlights
- 4,560‑square‑foot residential income property
- Built in 1922
- Two‑story building with finished full‑basement space and walk‑out access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,124
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,402,480
$1.4M
Cap Rate 7%
$1,001,771
$1.0M
Cap Rate 9%
$779,156
$779.2K
Market Conditions
NOI Build-Up for 4,560 SF
Gross rent
$136.8K $30.00/SF
− Vacancy
−$9.3K −$2.04/SF
EGI
$127.5K $27.96/SF
− OpEx
−$57.4K −$12.58/SF
NOI
$70.1K $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%
$1,402,480
Cap Rate 7%
$1,001,771
Cap Rate 9%
$779,156
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$876.6K – $1.17M
NOI $70,124 @ 7.0% cap · market cap 6.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,350 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,580
Businesses Nearby
Explore this area
Business Placement
Demographics for 07079, NJ
18,597
Population
6,131
Households
3
Avg Household Size
34
Median Age
76%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
6,413
Density / Sq Mi
$184,769
Median Household Income
$75,829
Median Earnings
$2,067
Median Rent
$808,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1922, the property includes finished lower-level space with walk-out access and natural gas.
Where is this residential income property located?
The property is located at 330 Academy St South Orange, NJ.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 4,560‑square‑foot residential income property; Built in 1922; Two‑story building with finished full‑basement space and walk‑out access
