Listing Agency: KELLER WILLIAMS - NJ METRO GROUP

Listed By: MICHAEL SCHIFF 973-783-7400 Show Phone

Source: Brentsellsnj

Added: Jul 24 Changed: Oct 1 Last Checked: Oct 16 at 9:09AM

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Investment Insights

Based on property information with market context.

This storefront property at 356 Bloomfield Ave in Caldwell includes approximately 2,600 square feet on the main floor plus an additional 800 square feet in the basement. The main level features 12-foot ceilings, large street-facing windows, front and rear entrances, two powder rooms, and an office with washer/dryer hookups. The space is planned for delivery as an open area without interior walls, allowing for a range of retail, restaurant, or event configurations. Basement storage includes built-in shelving, while parking is available in the municipal lot behind the building. Constructed in 1940, the property also includes HVAC service responsibilities for the tenant and roof maintenance handled by the landlord.

Key Highlights

• Approximately 2,600 square feet on the main floor
• Additional 800‑square‑foot basement with shelving
• 12‑foot main‑floor ceilings and large Bloomfield Ave windows

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,529

Suggested Prices Based on Cap Rates

Cap Rate 5%

$970,580 $970.6K

Cap Rate 7%

$693,271 $693.3K

Cap Rate 9%

$539,211 $539.2K

What to ask about pricing

Market Conditions

NOI Build-Up for 3,400 SF

Gross rent

$73.4K $21.60/SF

− Vacancy

−$4.1K −$1.21/SF

EGI

$69.3K $20.39/SF

− OpEx

−$20.8K −$6.12/SF

NOI

$48.5K $14.27/SF

Area

Essex 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%

$970,580

Cap Rate 7%

$693,271

Cap Rate 9%

$539,211

Alternative Uses

Best Use

Specialty Retail

$742.8K

$650.0K – $866.6K (±1% cap)

NOI $51,996 @ 7.0% cap · market cap 799.94%

Second Best

Retail

$693.3K

$606.6K – $808.8K (±1% cap)

NOI $48,529 @ 7.0% cap · market cap 746.60%

Theoretical Best

Office A

$887.8K

$776.8K – $1.04M (±1% cap)

NOI $62,147 @ 7.0% cap · market cap 956.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Pharmacy Auto Parts Store Parking Lot & Garage (Bike/Boat/Book/etc) Store Garden Center Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,189

Businesses Nearby

40k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 36% Dining 25% Home Improvements & Furnishings 23% Shops & Services 17%

Super Foodtown Groceries

14,427 visits/mo 0.1 miles

Costello's Ace Hardware Home Improvements & Furnishings

9,077 visits/mo 0.4 miles

Dunkin' Donuts Dining

8,937 visits/mo 0.3 miles

Exxon Shops & Services

4,311 visits/mo 0.2 miles

Minuteman Press Shops & Services

1,231 visits/mo 0.1 miles

Demographics for 07006, NJ

26,733

Population

10,183

Households

2.6

Avg Household Size

42

Median Age

65%

College-Educated

96%

High-School Grad

9.3 sq mi

ZIP Area

2,875

Density / Sq Mi

$148,645

Median Household Income

$74,342

Median Earnings

$1,973

Median Rent

$667,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Flexible commercial space with front and rear access, tall ceilings, basement storage, and municipal parking behind the building.

Where is this storefront property located?

The property is located at 356 Bloomfield Ave Caldwell, NJ.

What are key features of this property?

This property features: Approximately 2,600 square feet on the main floor; Additional 800‑square‑foot basement with shelving; 12‑foot main‑floor ceilings and large Bloomfield Ave windows