Mixed-Use Building with
402-406 Bloomfield Ave #406, Bloomfield, NJ 07003
For Sale
$1,699,000
Six apartments and separately metered utilities complement the street-level commercial space.
Property Size4,885 SF
Price / SF$347.80
Days on Market36
Property Features for 402-406 Bloomfield Ave #406
General Information
Standard status
Size
Property subtype
Zoning
Net Operating Income
Site & Location
Highway Access
Road Access
Public Transit
Utilities to Site
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Amenities
income-producing parking
separately metered units
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Tenancy
Listing Agency:
Realty One Group Living
(201) 636-2280
Listed By:
Roy Castro
Source:
Arcadiarealtors
Added: Oct 5
Changed: Nov 8
Last Checked: Nov 8 at 8:51AM
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 Realty One Group Living
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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 residential layout includes three one-bedroom apartments and three two-bedroom apartments. Renovations completed in 2019 addressed the roof, siding, exterior stonework, windows, doors, apartment interiors and common areas. The building also has two large-capacity water heaters and separately metered units. Residential tenants pay for their own heat and electric; the owner supplies hot and cold water. Parking provides an additional income stream.
The property is on Bloomfield Avenue in Bloomfield, with access to NYC transportation, shopping, dining and major highways, including the Garden State Parkway. The zoning designation is CBD.
The property is on Bloomfield Avenue in Bloomfield, with access to NYC transportation, shopping, dining and major highways, including the Garden State Parkway. The zoning designation is CBD.
Key Highlights
- 9 units: six residential apartments and three street‑level commercial spaces
- Residential mix includes three one‑bedroom and three two‑bedroom apartments
- 4,885 square feet; zoning designation is CBD
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
Yes
Paved road access
Yes
Utilities to site
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 - Six apartments and separately metered utilities complement the street-level commercial space.
Where is this mixed-use property located?
The property is located at 402-406 Bloomfield Ave #406 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: 9 units: six residential apartments and three street‑level commercial spaces; Residential mix includes three one‑bedroom and three two‑bedroom apartments; 4,885 square feet; zoning designation is CBD
