Mixed-Use Property with Medical
For Sale
$760,000
424 Clifton Ave, Clifton, NJ 07011
First-floor medical office space is paired with an upstairs three-bedroom duplex.
Property Size2,550 SF
Days on Market11
Property Features for 424 Clifton Ave
General Information
Standard status
Active
Size
2,550 SF
Total Parking Spaces
5
Property subtype
Commercial
Additional Details
Floor
First Level
Public Transit
Yes
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$13,201
Building Details
Building Size
2,550 SF
Year Built
1908
Stories
3
Units
2
Listing Agency:
RE/MAX TRUST PROPERTIES
(973) 253-3343
Listed By:
SALIH OKDEMIR
Source:
Elliman
Added: Aug 11
Changed: Aug 16
Last Checked: Aug 21 at 8:40AM
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 TRUST PROPERTIES
Investment Insights
Based on property information with market context.
This mixed-use property combines a medical office on the first floor with a three-bedroom duplex above. The arrangement places commercial and residential components within one building, with the upper residence offering either owner occupancy or rental use as supported by the existing configuration.
A private five-car driveway serves the property, and the lot includes a newly paved blacktop surface. The building dates to 1908 and is located on Clifton Ave in the Doctors Row district. WalkScore is 60, BikeScore is 44, and TransitScore is 43.
A private five-car driveway serves the property, and the lot includes a newly paved blacktop surface. The building dates to 1908 and is located on Clifton Ave in the Doctors Row district. WalkScore is 60, BikeScore is 44, and TransitScore is 43.
Key Highlights
- First‑floor medical office space
- Three‑bedroom duplex on the upper level
- Private five‑car driveway
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
$39,214
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
5.16%
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%
$784,280
$784.3K
Cap Rate 7%
$560,200
$560.2K
Cap Rate 9%
$435,711
$435.7K
Market Conditions
NOI Build-Up for 2,550 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
$76.5K $30.00/SF
− Vacancy
−$5.2K −$2.04/SF
EGI
$71.3K $27.96/SF
− OpEx
−$32.1K −$12.58/SF
NOI
$39.2K $15.38/SF
Area
Passaic 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 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%
$784,280
Cap Rate 7%
$560,200
Cap Rate 9%
$435,711
Alternative Uses
Best Use
Apartment 5plus
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 5.16%
Second Best
Office B
$557.4K
$487.7K – $650.3K
NOI $39,015 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$665.9K
$582.6K – $776.8K
NOI $46,610 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
2,204
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?
Mixed-use property - First-floor medical office space is paired with an upstairs three-bedroom duplex.
Where is this mixed-use property located?
The property is located at 424 Clifton Ave Clifton, NJ.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: First‑floor medical office space; Three‑bedroom duplex on the upper level; Private five‑car driveway
