Renovated Mixed-Use
348 SOUTH AVE EAST Unit 0000 Westfield, NJ 07090
For Sale
$900,000
Renovated mixed-use building with a salon on the first floor and a two-bedroom apartment above.
Property Size2,000 SF
Price / SF$450
Days on Market328
Property Features for 348 SOUTH AVE EAST Unit 0000
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1989
Listing Agency:
ERA SUBURB REALTY
(908) 322-4434
Listed By:
GEORGE HANSEN
Source:
Xome
Added: Aug 31, 2025
Changed: Jul 23
Last Checked: Jul 23 at 11:39AM
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 ERA SUBURB REALTY
Investment Insights
Based on property information with market context.
This renovated mixed-use property includes a high-end salon tenant on the first floor and a two-bedroom, 1½-bath apartment on the floor above. The apartment is equipped with an in-unit washer and dryer. Both units have separate central air and forced hot air heat, along with separate entrances and utilities. Exterior improvements include vinyl siding and an asphalt shingle roof.
The property is located just blocks from the train station and is described as highly visible in a high-traffic area. It also offers seven off-street parking spaces.
The building is presented as a flexible-use asset with multiple practical operating options, including owner-occupancy and investment ownership. The seller indicates the property was completely renovated about five years ago.
The property is located just blocks from the train station and is described as highly visible in a high-traffic area. It also offers seven off-street parking spaces.
The building is presented as a flexible-use asset with multiple practical operating options, including owner-occupancy and investment ownership. The seller indicates the property was completely renovated about five years ago.
Key Highlights
- Renovated mixed‑use building (1989) with a salon on the first floor and a 2‑bedroom, 1‑1/2‑bath apartment above
- Separate utilities and separate entrances for the salon and the apartment
- Both units have separate climate control with central A/C and forced hot air heat
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.0k | $30.00 |
| − Vacancy | −$4.1k | −$2.04 |
| EGI | $55.9k | $27.96 |
| − OpEx | −$25.2k | −$12.58 |
| NOI | $30.8k | $15.38 |
2,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 3.42%
Second Best
Mixed Use
$377.1K
$330.0K – $440.0K
NOI $26,400 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Platinum Lash Spa
Hair Salon
The Roofing Squad
Roofing Company
FAQs
What type of property is this?
Mixed-use property - Renovated mixed-use building with a salon on the first floor and a two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 348 SOUTH AVE EAST Unit 0000 Westfield, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Renovated mixed‑use building (1989) with a salon on the first floor and a 2‑bedroom, 1‑1/2‑bath apartment above; Separate utilities and separate entrances for the salon and the apartment; Both units have separate climate control with central A/C and forced hot air heat
