Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Passaic City Multifamily Investment Title is generated by Realmo AI

    35 Columbia Ave, Passaic, NJ 07055

    View on Map
    Claim this Listing
    New
    For Sale
    $1,350,000

    Commercial - Passaic City, NJ

    Property size:
    4,500 SF
    Lot size:
    0.04 Acres
    Price / SF:
    $300/SF
    Added:
    May 19, 2026
    Days on Market:
    4
    Last Refresh:
    May 22 at 8:06 am

    Property Features for 35 Columbia Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Res
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    Size
    4,500 SF
    Lot size
    0.04 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    17342

    Building Details

    Year built
    2018
    Floors in Building
    3
    Number of units
    6
    Flooring type
    Laminate, Linoleum, Tile, Vinyl
    Building materials
    Vinyl Siding
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    MICHAEL N TODARO

    Listing agent MICHAEL N TODARO

    Listing office SERHANT NEW JERSEY LLC 830 MORRIS TURNPIKE, Short Hills, NJ

    Listing date May 19, 2026

    MLS# 4028682 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Built in 2018, this property is approximately 8 years old.
    • Six residential units, each with separate utilities.
    • Features 11 bedrooms and 6 full bathrooms.
    • Close proximity to public transportation, downtown Passaic, shopping, restaurants, schools, and major highways.
    • Basement provides storage and laundry facilities.
    • Excellent condition.

    Overview

    This multifamily property in Passaic City, NJ, features six residential units, totaling 24 rooms, 11 bedrooms, and 6 full bathrooms. Constructed approximately 8 years ago from the foundation up, the building is in excellent condition. The property includes storage and laundry facilities in the basement. Each unit has separate utilities. The building has a total area of 4,500 square feet and is situated on a 0.04-acre lot. On-street parking is available. The location offers convenient access to public transportation, downtown Passaic, shopping, restaurants, schools, and major highways, presenting an excellent investment opportunity.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $768.9K
    NOI $69,201 @ 9.00% cap · cautious / downside scenario
    Moderate
    $988.6K
    NOI $69,201 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.38M
    NOI $69,201 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $135.0k $30.00
    − Vacancy −$9.2k −$2.04
    EGI $125.8k $27.96
    − OpEx −$56.6k −$12.58
    NOI $69.2k $15.38
    4,500 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $988.6K
    $865.0K – $1.15M (±1% cap)
    NOI $69,201 @ 7.0% cap · market cap 5.13%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.18M
    $1.03M – $1.37M (±1% cap)
    NOI $82,253 @ 7.0% cap · market cap 6.09%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.121296
    Latitude
    40.8622982

    Nearby Similar for Sale

    • $950,000

      Renovated Mixed-Use Property, Passaic

      Fully leased, renovated mixed-use property with separate utilities.
      142 PASSAIC ST, Passaic, NJ 07055
      View Details
    • $69,900
      600 SF

      Established Salon Business Opportunity

      Thriving salon for sale in Passaic City, New Jersey.
      481 Paulison Ave, Passaic City, NJ 07055-3152
      View Details
    • $599,900

      Well-Maintained Multi-Family Home

      Two-family home with separate utilities in Passaic City, NJ.
      266 Madison St, Passaic City, NJ 07055-4110
      View Details
    • $689,900

      Passaic City Multi-Family Home

      Two-story multi-family home with garage and backyard.
      35 7Th Ave, Passaic City, NJ 07055-2135
      View Details
    • $794,900

      Spacious Multi-Level Home in Passaic

      Multi-level home with flexible living arrangements and generous parking.
      342 Sherman St, Passaic City, NJ 07055-3130
      View Details
    • $159,900
      1,200 SF

      Established Flower Franchise for Sale

      Turnkey 1-800-Flowers franchise with warehouse and growth potential.
      343 Monroe St, Passaic City, NJ 07055-4115
      View Details
    • $1,250,000
      4,000 SF

      Passaic City Commercial Opportunity

      Commercial building in downtown Passaic City with retail and office spaces.
      51 Central Ave, Passaic City, NJ 07055-8406
      View Details
    • $799,000
      5,100 SF

      Commercial - Passaic City, NJ

      111 Lexington Ave, Passaic City, NJ 07055-5246
      View Details
    • $585,000

      Well-Maintained Two-Family House

      Two-family house with finished basement, attic, and parking.
      383 Highland Ave, Passaic City, NJ 07055-3210
      View Details
    • $399,000

      Passaic City Parking Lot

      13-spot parking lot in Passaic City, New Jersey.
      98 Lexington Ave, Passaic City, NJ 07055-5245
      View Details
    • $799,900
      3,000 SF

      All-Brick Place of Worship

      Move-in ready, furnished place of worship with parking.
      181 Lexington Ave, Passaic City, NJ 07055
      View Details

    FAQs

    What type of property is this?
    Apartment building - Six residential units near transportation, shopping, and highways.
    Where is this apartment building located?
    The property is located at 35 Columbia Ave Passaic, NJ.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Built in 2018, this property is approximately 8 years old.; Six residential units, each with separate utilities.; Features 11 bedrooms and 6 full bathrooms.
    (908) 656-1650
    We can help!
    Listing Contact
    MICHAEL N TODARO
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    35 Columbia Ave, Passaic City, NJ 07055-6411
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!