Renovated Mixed-Use Medical
For Sale
$1,100,000
431 WASHINGTON AVE Unit 1, Belleville, NJ 07109
Renovated in 2011, this mixed-use property combines medical office space with residential living in a convenient commuter setting.
Property Size3,766 SF
Price / SF$292.09
Days on Market106
Property Features for 431 WASHINGTON AVE Unit 1
General Information
Standard status
Active
Size
3,766 SF
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Building Details
Year Built
1908
Year Renovated
2011
Listing Agency:
EXP REALTY, LLC
(201) 310-7000
Listed By:
RAYMOND THOMAS
(201) 310-7000
Source:
Xome
Added: Apr 21
Changed: Jul 10
Last Checked: Jun 15 at 5:58AM
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
Investment Insights
Based on property information with market context.
This mixed-use building includes a medical office space and a residential component. The property was completely renovated in 2011, with updated flooring, fixtures, mechanical systems, and interior finishes designed for day-to-day functionality. The commercial space is described as flexible for business use, with strong visibility along Washington Avenue, while the residential portion offers comfortable rooms with abundant natural light.
Located at 431 Washington Ave in Belleville, the property is positioned near shopping, dining, major highways, and public transportation. The remarks also note proximity to parks, schools, and houses of worship, with commuter access between Newark and New York City.
For an owner-user, this configuration can support operating a medical or service-focused business alongside residential space. For investors, the mix of commercial and residential uses within a renovated asset may appeal to operators seeking a single-building structure with multiple income streams. The listing describes the building as a well-maintained, updated opportunity with modern improvements and convenient on-site amenities such as off-street parking, with additional features potentially including separate utilities and ample storage.
Located at 431 Washington Ave in Belleville, the property is positioned near shopping, dining, major highways, and public transportation. The remarks also note proximity to parks, schools, and houses of worship, with commuter access between Newark and New York City.
For an owner-user, this configuration can support operating a medical or service-focused business alongside residential space. For investors, the mix of commercial and residential uses within a renovated asset may appeal to operators seeking a single-building structure with multiple income streams. The listing describes the building as a well-maintained, updated opportunity with modern improvements and convenient on-site amenities such as off-street parking, with additional features potentially including separate utilities and ample storage.
Key Highlights
- Mixed‑use building with medical office and residential space, located in the Central Business District
- Completely renovated in 2011 with updated flooring, fixtures, mechanical systems, and interior finishes
- Commercial zoning: Comm; freestanding property with strong frontage on Washington Ave (431 Washington Ave)
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.0k | $30.00 |
| − Vacancy | −$7.7k | −$2.04 |
| EGI | $105.3k | $27.96 |
| − OpEx | −$47.4k | −$12.58 |
| NOI | $57.9k | $15.38 |
3,766 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$827.3K
$723.9K – $965.2K
NOI $57,914 @ 7.0% cap · market cap 5.26%
Second Best
Office B
$823.1K
$720.3K – $960.3K
NOI $57,620 @ 7.0% cap · market cap 5.24%
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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Manuel Mauro DVM — 211 Washington Ave, Belleville, NJ 07109
Frequently Asked Questions
What type of property is this?
Medical Office Space - Renovated in 2011, this mixed-use property combines medical office space with residential living in a convenient commuter setting.
Where is this medical office space located?
The property is located at 431 WASHINGTON AVE Unit 1 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 building with medical office and residential space, located in the Central Business District; Completely renovated in 2011 with updated flooring, fixtures, mechanical systems, and interior finishes; Commercial zoning: Comm; freestanding property with strong frontage on Washington Ave (431 Washington Ave)
