Mixed-Use Office and Residential
For Sale
$999,999
441-443 E Westfield Avenue, Roselle Park, NJ 07204
Two-level building with office/medical flexibility, ample on-site parking, and zoning that allows up to three residential units.
Property Size5,272 SF
Price / SF$189.68
Days on Market66
Property Features for 441-443 E Westfield Avenue
General Information
Standard status
Active
Size
5,272 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$33,389
Amenities
Forced Air Heating
Building Details
Stories
2
Listing Agency:
EXP REALTY
(866) 201-6210
Listed By:
ALEKSANDR PRITSKER · License #1008359
Source:
Corcoran
Added: Jun 5
Changed: Aug 8
Last Checked: Aug 8 at 7:57AM
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
Investment Insights
Based on property information with market context.
441-443 E Westfield Avenue presents a versatile mixed-use building totaling approximately 5,272 square feet across two levels. The property has been previously used as professional offices serving medical and legal practices, supporting a flexible interior layout for office- and medical-oriented users or an owner-operator configuration. Based on the stated zoning, the property allows for multiple uses, including the potential for up to three residential units in addition to commercial space.
Located along one of Union County’s most active commercial corridors, the building is positioned for practical access and visibility along Westfield Avenue. The listing notes consistent traffic flow, ample on-site parking for employees and clients, and a commuter-friendly setting near transit. The remarks further describe easy connectivity to major highways and nearby NJ Transit service with direct links to Newark and New York City, within a broader business community that includes both commercial and residential demand.
For buyers and operators, the combination of established office use, flexible mixed-use zoning, and convenient parking supports a range of strategies, from continuing professional office/medical use to pursuing a residential and commercial configuration. The property’s two-level design and multi-use allowance make it suitable for tenants seeking a practical space in a transit-accessible corridor and for investors evaluating repositioning possibilities consistent with the zoning parameters described.
Located along one of Union County’s most active commercial corridors, the building is positioned for practical access and visibility along Westfield Avenue. The listing notes consistent traffic flow, ample on-site parking for employees and clients, and a commuter-friendly setting near transit. The remarks further describe easy connectivity to major highways and nearby NJ Transit service with direct links to Newark and New York City, within a broader business community that includes both commercial and residential demand.
For buyers and operators, the combination of established office use, flexible mixed-use zoning, and convenient parking supports a range of strategies, from continuing professional office/medical use to pursuing a residential and commercial configuration. The property’s two-level design and multi-use allowance make it suitable for tenants seeking a practical space in a transit-accessible corridor and for investors evaluating repositioning possibilities consistent with the zoning parameters described.
Key Highlights
- Approximately 5,272 SF two‑level mixed‑use building at 441–443 E Westfield Avenue in Roselle Park
- Flexible layout previously used as professional offices for medical and legal practices
- Zoned for multiple uses, with potential for up to three residential units in addition to commercial space
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
$88,233
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
8.82%
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%
$1,764,660
$1.8M
Cap Rate 7%
$1,260,471
$1.3M
Cap Rate 9%
$980,367
$980.4K
Market Conditions
NOI Build-Up for 5,272 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
$134.8K $25.56/SF
− Vacancy
−$8.7K −$1.65/SF
EGI
$126.0K $23.91/SF
− OpEx
−$37.8K −$7.17/SF
NOI
$88.2K $16.74/SF
Area
Union County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$1,764,660
Cap Rate 7%
$1,260,471
Cap Rate 9%
$980,367
Alternative Uses
Best Use
Multifamily LT 5
$1.26M
$1.10M – $1.47M
NOI $88,233 @ 7.0% cap · market cap 8.82%
Second Best
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $81,073 @ 7.0% cap · market cap 8.11%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,364 @ 7.0% cap · market cap 9.64%
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
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 07204, NJ
13,984
Population
5,373
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
11,653
Density / Sq Mi
$104,418
Median Household Income
$55,974
Median Earnings
$1,585
Median Rent
$405,800
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 - Two-level building with office/medical flexibility, ample on-site parking, and zoning that allows up to three residential units.
Where is this office building located?
The property is located at 441-443 E Westfield Avenue Roselle Park, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Approximately 5,272 SF two‑level mixed‑use building at 441–443 E Westfield Avenue in Roselle Park; Flexible layout previously used as professional offices for medical and legal practices; Zoned for multiple uses, with potential for up to three residential units in addition to commercial space
