Belleville Mixed-Use
For Sale
$1,100,000
431 Washington Ave, Belleville, NJ 07109
Renovated mixed-use property with commercial and residential potential.
Property Size3,766 SF
Price / SF$292.09
Days on Market167
Property Features for 431 Washington Ave
General Information
Standard status
Active
Size
3,766 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$19,334
Amenities
Central air
Asphalt Shingle Roof
2 Car Width
2 Units Cooling
2 Units Heating
Baseboard - Hotwater Heating
Forced Hot Air Heating
Multi-Zone Cooling
Multi-Zone Heating
Building Details
Year Built
1908
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
RAYMOND THOMAS · License #1972774
(201) 310-7000
Source:
Corcoran
Added: May 22
Changed: Sep 3
Last Checked: Aug 25 at 5:06AM
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 EXP REALTY, LLC
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Investment Insights
Based on property information with market context.
Located in Belleville, 431 Washington Ave is a mixed-use property combining residential and commercial potential. The property was completely renovated in 2011 with updated systems and modern improvements. The commercial space offers flexible use options with visibility along Washington Avenue, making it suitable for a variety of permitted business uses. The residential portion provides living space with updated finishes, spacious rooms, and natural light. Improvements completed during the renovation include updated flooring, fixtures, mechanical systems, and interior finishes. The property may include separate utilities, ample storage, and off-street parking. Situated near parks, schools, houses of worship, and commuter routes with access to Newark and New York City, this property is an opportunity for owner-users, investors, or business owners seeking a versatile mixed-use building. The property size is 3766 square feet. It is located near shopping, dining, major highways, and public transportation.
Key Highlights
- Mixed‑use property with both commercial and residential spaces.
- Convenient Belleville location near shopping, dining, major highways, and public transportation.
- Renovated in 2011 with updated systems and modern improvements.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,971
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,420
$1.0M
Cap Rate 7%
$742,443
$742.4K
Cap Rate 9%
$577,456
$577.5K
Market Conditions
NOI Build-Up for 3,766 SF
Gross rent
$90.4K $24.00/SF
− Vacancy
−$7.2K −$1.92/SF
EGI
$83.2K $22.08/SF
− OpEx
−$31.2K −$8.28/SF
NOI
$52.0K $13.80/SF
Area
Essex County, NJ
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,420
Cap Rate 7%
$742,443
Cap Rate 9%
$577,456
Alternative Uses
Best Use
Mixed Use
$742.4K
$649.6K – $866.2K
NOI $51,971 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.4K
$860.5K – $1.15M
NOI $68,836 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Explore this area
Business Placement
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated mixed-use property with commercial and residential potential.
Where is this mixed-use property located?
The property is located at 431 Washington Ave Belleville, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Mixed‑use property with both commercial and residential spaces.; Convenient Belleville location near shopping, dining, major highways, and public transportation.; Renovated in 2011 with updated systems and modern improvements.
