Remodeled Clifton Building with
For Sale
$1,479,000
414 Clifton Ave, Clifton, NJ 07011
Extensively updated building with 14 offices and parking.
Property Size6,900 SF
Price / SF$214.35
Days on Market100
Property Features for 414 Clifton Ave
General Information
Standard status
Active
Size
6,900 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$16,282
Amenities
Central air
Asphalt Shingle Roof
1 Unit Heating
2 Units Cooling
Baseboard - Hotwater Heating
Central Air Cooling
On-Street Parking
Parking Lot-Exclusive
Building Details
Year Built
1940
Listing Agency:
REALTY EMPIRE, LLC
(973) 510-2260
Listed By:
CHRISTOPHER VARELA
Source:
Corcoran
Added: May 22
Changed: Aug 27
Last Checked: Aug 28 at 1:53PM
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 EMPIRE, LLC
Investment Insights
Based on property information with market context.
Located in the heart of Clifton, this remodeled building offers access and flexibility. Situated near Routes 80, 46, 3, 21, and 23, the property facilitates commuting and client access. Currently operating as a real estate office, the building has been extensively updated and is ready for immediate use. Renovations include a new kitchen, bathrooms, flooring, windows, siding, roof, electrical fixtures, and a central A/C unit. A full sprinkler system, fresh landscaping design, and a large on-site parking lot for up to 9 cars, plus ample street parking, are available. The interior layout is designed for professional operations and multi-tenant potential, including 14 private offices, 3 bathrooms, 1 kitchen, a large conference room, and a reception area. The third floor offers potential for an apartment-style setup with a full bathroom, creating added flexibility for owner-occupancy or staff housing. An existing ground-level tenant is in place, offering immediate income potential. The property is suitable for occupying the building for business, renting out individual offices, or creating a hybrid owner-user investment. The property size is 6900 square feet.
Key Highlights
- Prime Clifton location with exceptional access to major routes.
- Fully remodeled building, including new kitchen, bathrooms, flooring, windows, siding, roof, electrical fixtures, and central A/C.**
- 14 private offices, large conference room, and impressive reception area offer multi‑tenant potential.**
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
$105,570
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
7.14%
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%
$2,111,400
$2.1M
Cap Rate 7%
$1,508,143
$1.5M
Cap Rate 9%
$1,173,000
$1.2M
Market Conditions
NOI Build-Up for 6,900 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
$207.0K $30.00/SF
− Vacancy
−$66.2K −$9.60/SF
EGI
$140.8K $20.40/SF
− OpEx
−$35.2K −$5.10/SF
NOI
$105.6K $15.30/SF
Area
Passaic County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,111,400
Cap Rate 7%
$1,508,143
Cap Rate 9%
$1,173,000
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,570 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,121 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 07011, NJ
41,691
Population
14,198
Households
2.9
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
13,449
Density / Sq Mi
$73,589
Median Household Income
$41,323
Median Earnings
$1,613
Median Rent
$403,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Extensively updated building with 14 offices and parking.
Where is this office building located?
The property is located at 414 Clifton Ave Clifton, NJ.
What is the asking price?
The asking price for this property is $1,479,000.
What are key features of this property?
This property features: Prime Clifton location with exceptional access to major routes.; Fully remodeled building, including new kitchen, bathrooms, flooring, windows, siding, roof, electrical fixtures, and central A/C.**; 14 private offices, large conference room, and impressive reception area offer multi‑tenant potential.**
