Mixed-Use
For Sale
$449,900
414 West Washington Avenue, Pleasantville, NJ 08232
All three units are leased, with a layout that supports residential or business use.
Property Size2,400 SF
Price / SF$187.46
Days on Market242
Property Features for 414 West Washington Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
MULTI-FAMILY / Three Family
Occupancy
100%
Additional Details
Cap Rate
11%
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,218
Amenities
Baseboard, Electric, Oil, See Remarks
Crawl Space
5
Electric
Building Details
Units
3
Listing Agency:
RE/MAX CENTRAL
(732) 972-1000
Listed By:
GEORGE PAVLUSHKIN · License #1324942
Source:
Compass
Added: Jan 1
Changed: Aug 30
Last Checked: Aug 30 at 7:26PM
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 RE/MAX CENTRAL
Investment Insights
Based on property information with market context.
This 2,400-square-foot triplex contains three units with a total of five bedrooms and three baths. The current configuration places commercial space toward the front and two rental units behind it, providing a mixed-use arrangement. All units are leased, and the property is identified with an 11 CAP. Additional features include a crawl space and electric service.
Located at 414 West Washington Avenue in Pleasantville, New Jersey, the property may also be operated as a single-family residence or adapted for business, mixed-use, or residential income purposes. Its existing layout supports multiple occupancy and use configurations without changing the documented unit count.
Located at 414 West Washington Avenue in Pleasantville, New Jersey, the property may also be operated as a single-family residence or adapted for business, mixed-use, or residential income purposes. Its existing layout supports multiple occupancy and use configurations without changing the documented unit count.
Key Highlights
- Three‑unit triplex with all units currently leased
- 2,400 square feet with five bedrooms and three baths
- Front commercial area with two rental units in back
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
$35,640
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
7.92%
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%
$712,800
$712.8K
Cap Rate 7%
$509,143
$509.1K
Cap Rate 9%
$396,000
$396.0K
Market Conditions
NOI Build-Up for 2,400 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
$64.8K $27.00/SF
− Vacancy
−$7.8K −$3.24/SF
EGI
$57.0K $23.76/SF
− OpEx
−$21.4K −$8.91/SF
NOI
$35.6K $14.85/SF
Area
Atlantic County, NJ
Vacancy
12.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
37.50%
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%
$712,800
Cap Rate 7%
$509,143
Cap Rate 9%
$396,000
Alternative Uses
Best Use
Mixed Use
$509.1K
$445.5K – $594.0K
NOI $35,640 @ 7.0% cap · market cap 7.92%
Second Best
Multifamily LT 5
$390.5K
$341.7K – $455.5K
NOI $27,332 @ 7.0% cap · market cap 6.08%
Theoretical Best
Warehouse
$893.7K
$782.0K – $1.04M
NOI $62,562 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
140
Businesses Nearby
Explore this area
Business Placement
Demographics for 08232, NJ
19,897
Population
7,136
Households
2.8
Avg Household Size
37
Median Age
11%
College-Educated
73%
High-School Grad
5.9 sq mi
ZIP Area
3,372
Density / Sq Mi
$52,476
Median Household Income
$30,661
Median Earnings
$1,210
Median Rent
$179,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - All three units are leased, with a layout that supports residential or business use.
Where is this triplex located?
The property is located at 414 West Washington Avenue Pleasantville, NJ.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Three‑unit triplex with all units currently leased; 2,400 square feet with five bedrooms and three baths; Front commercial area with two rental units in back
