Retail Space in
For Sale
$395,000
Pending
403 Broad, Bloomfield, NJ 07003
One-story retail building in a vibrant mixed-use neighborhood.
Property Size1,250 SF
Days on Market227
Property Features for 403 Broad
General Information
Standard status
Pending
Size
1,250 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,238
Amenities
Central Air Heating
Gas Heating
Hot Air Heating
Listing Agency:
CENTURY 21 A.G. REALTY GROUP
(973) 928-3330
Listed By:
ALEXIS GUILLIANI
Source:
Corcoran
Added: Jan 17
Changed: Aug 17
Last Checked: Aug 16 at 6:37AM
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 CENTURY 21 A.G. REALTY GROUP
Investment Insights
Based on property information with market context.
This one-story retail building provides approximately 1,250 sq ft of commercial space. The property is located in a mixed residential-commercial neighborhood and offers visibility to foot and vehicle traffic. Situated along one of Bloomfield’s active passages, this location benefits from a mix of daily destinations and small businesses. Public transportation is accessible right outside the property, and there is easy access to the Garden State Parkway. The property is located in Essex County and is suitable for numerous different business types. It is anchored by residential density, daily services, and pedestrian activity.
Key Highlights
- Excellent visibility to foot and vehicle traffic on a highly active street.
- Located in a vibrant mixed residential‑commercial neighborhood.
- 1,250 sq ft of flexible commercial space.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,842
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$356,840
$356.8K
Cap Rate 7%
$254,886
$254.9K
Cap Rate 9%
$198,244
$198.2K
Market Conditions
NOI Build-Up for 1,250 SF
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.
Gross rent
$27.0K $21.60/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$25.5K $20.39/SF
− OpEx
−$7.6K −$6.12/SF
NOI
$17.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$356,840
Cap Rate 7%
$254,886
Cap Rate 9%
$198,244
Alternative Uses
Best Use
Retail
$254.9K
$223.0K – $297.4K
NOI $17,842 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.4K
$285.6K – $380.8K
NOI $22,848 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,092
Businesses Nearby
91k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 45%
McDonald's
Dining
27,661 visits/mo
0.1 miles
QuickChek
Shops & Services
15,031 visits/mo
0.1 miles
BP
Shops & Services
12,714 visits/mo
0.5 miles
Dunkin' Donuts
Dining
11,337 visits/mo
0.4 miles
7-Eleven
Shops & Services
9,794 visits/mo
0.5 miles
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
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - One-story retail building in a vibrant mixed-use neighborhood.
Where is this retail space located?
The property is located at 403 Broad Bloomfield, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Excellent visibility to foot and vehicle traffic on a highly active street.; Located in a vibrant mixed residential‑commercial neighborhood.; 1,250 sq ft of flexible commercial space.
