Storefront Property with
For Sale
Contact for pricing
331 Park Ave, Plainfield, NJ 07060
Open commercial layout with an interior-access basement and level lot.
Property Size2,000 SF
Price / SF$240
Days on Market129
Property Features for 331 Park Ave
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Special Purpose
Property Condition
Severity
Repairs Needed
Evidence
needs rehab
Listing Agency:
CENTURY 21 Alliance Realty
Listed By:
Ismael Estrada · License #NJ
(908) 587-5222
Source:
Crexi
Added: Jun 10
Changed: Oct 12
Last Checked: Oct 16 at 9:33AM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This storefront property at 331 Park Ave in Plainfield City, New Jersey, offers approximately 2,000 square feet of open space on a level lot. The building includes a full basement with access from inside the property, adding substantial secondary space to the main floor.
The property requires rehabilitation and is offered strictly in its as-is condition. Its existing open configuration provides a straightforward starting point for an investor or business owner evaluating a storefront asset in Plainfield City.
The property requires rehabilitation and is offered strictly in its as-is condition. Its existing open configuration provides a straightforward starting point for an investor or business owner evaluating a storefront asset in Plainfield City.
Key Highlights
- Approximately 2,000 square feet of open space
- Full basement with interior‑only access
- Level lot
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 with an interior-access basement and level lot.
Where is this storefront property located?
The property is located at 331 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 2,000 square feet of open space; Full basement with interior‑only access; Level lot
