Mixed-Use Building with
402-406 Bloomfield Ave, Bloomfield, NJ 07003
For Sale
$1,699,000
CBD-zoned property combines residential apartments with street-level commercial space along Bloomfield Avenue.
Property Size4,885 SF
Days on Market36
Property Features for 402-406 Bloomfield Ave
General Information
Standard status
Size
Zoning
Site & Location
Highway Access
Public Transit
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
Window Unit(s)
Baseboard, Electric, Natural Gas
Full
Building Details
Building Size
Year Built
Year Renovated
Tenancy
Listed By:
ROY CASTRO
(973) 943-0956
Source:
Evrealestate
Added: Oct 5
Changed: Nov 8
Last Checked: Oct 7 at 9:50AM
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 ROY CASTRO
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Investment Insights
Based on property information with market context.
This 4,885-square-foot mixed-use property contains nine units: six apartments and three commercial spaces at street level. The apartment mix comprises three one-bedroom units and three two-bedroom units. Renovations completed in 2019 included work to the roof, siding, exterior stonework, windows, doors, kitchens, bathrooms, flooring, heating, apartments, and common areas. Each unit is separately metered; residential tenants pay their own heat and electric, while the owner supplies hot and cold water. Two large-capacity water heaters serve the building.
The property is on Bloomfield Avenue in Bloomfield Township, with access to NYC transportation, shopping, dining, and major highways, including the Garden State Parkway. The 0.21-acre parcel measures 77 x 120 feet and is zoned CBD. Parking also generates income.
The property is on Bloomfield Avenue in Bloomfield Township, with access to NYC transportation, shopping, dining, and major highways, including the Garden State Parkway. The 0.21-acre parcel measures 77 x 120 feet and is zoned CBD. Parking also generates income.
Key Highlights
- Nine units: six apartments and three street‑level commercial spaces
- Six‑apartment mix includes three one‑bedroom and three two‑bedroom units
- 2019 renovations included the roof, siding, exterior stonework, apartments, and common areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,122
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,502,440
$1.5M
Cap Rate 7%
$1,073,171
$1.1M
Cap Rate 9%
$834,689
$834.7K
Market Conditions
NOI Build-Up for 4,885 SF
Gross rent
$146.6K $30.00/SF
− Vacancy
−$10.0K −$2.04/SF
EGI
$136.6K $27.96/SF
− OpEx
−$61.5K −$12.58/SF
NOI
$75.1K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,502,440
Cap Rate 7%
$1,073,171
Cap Rate 9%
$834,689
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$939.0K – $1.25M
NOI $75,122 @ 7.0% cap · market cap 4.42%
Second Best
Retail
$996.1K
$871.6K – $1.16M
NOI $69,725 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,290 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,655
Businesses Nearby
Explore this area
Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Essex County, NJ
Properties on Market for Mixed-use properties in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - CBD-zoned property combines residential apartments with street-level commercial space along Bloomfield Avenue.
Where is this mixed-use property located?
The property is located at 402-406 Bloomfield Ave Bloomfield, NJ.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Nine units: six apartments and three street‑level commercial spaces; Six‑apartment mix includes three one‑bedroom and three two‑bedroom units; 2019 renovations included the roof, siding, exterior stonework, apartments, and common areas
