Storefront with Full
For Sale
$480,000
331-35 Park Ave, Plainfield, NJ 07060
Open commercial layout requiring rehabilitation and offered in its existing condition.
Property Size2,000 SF
Price / SF$240
Days on Market85
Property Features for 331-35 Park Ave
General Information
Standard status
Active
Size
2,000 SF
Property Condition
Severity
Repairs Needed
Evidence
needs rehab
Listing Agency:
CENTURY 21 ALLIANCE REALTY
Listed By:
ISMAEL ESTRADA JR
(908) 587-5222
Source:
Goldstandardrealty
Added: Jul 24
Changed: Oct 6
Last Checked: Oct 16 at 11:53AM
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 ALLIANCE REALTY
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Investment Insights
Based on property information with market context.
Located at 331-35 Park Ave in Plainfield City, NJ 07060, this storefront property offers approximately 2000 Sq Ft. of open commercial space. The layout includes a high full basement with access from inside the building.
The property requires rehabilitation and is being offered strictly in its existing condition. Its open configuration may accommodate a range of business or investment plans, subject to the buyer’s intended use and applicable requirements.
The property requires rehabilitation and is being offered strictly in its existing condition. Its open configuration may accommodate a range of business or investment plans, subject to the buyer’s intended use and applicable requirements.
Key Highlights
- Approximately 2000 Sq Ft. of open commercial space
- High full basement included
- Basement access from inside only
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,547
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,940
$570.9K
Cap Rate 7%
$407,814
$407.8K
Cap Rate 9%
$317,189
$317.2K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$43.2K $21.60/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$40.8K $20.39/SF
− OpEx
−$12.2K −$6.12/SF
NOI
$28.5K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$570,940
Cap Rate 7%
$407,814
Cap Rate 9%
$317,189
Alternative Uses
Best Use
Retail
$407.8K
$356.8K – $475.8K
NOI $28,547 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,298
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07060, NJ
48,423
Population
16,154
Households
3
Avg Household Size
35
Median Age
22%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
9,685
Density / Sq Mi
$72,882
Median Household Income
$32,867
Median Earnings
$1,629
Median Rent
$369,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Plainfield Florist — 8 Grandview Ave, North Plainfield, NJ 07060
Frequently Asked Questions
What type of property is this?
Storefront property - Open commercial layout requiring rehabilitation and offered in its existing condition.
Where is this storefront property located?
The property is located at 331-35 Park Ave Plainfield, NJ.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Approximately 2000 Sq Ft. of open commercial space; High full basement included; Basement access from inside only
