Three-Tenant Storefront
New
For Sale
$1,250,000
441 Bloomfield Ave, Newark, NJ 07107
Corner-positioned retail building with three occupied commercial spaces.
Property Size3,000 SF
Price / SF$416.67
Days on Market4
Property Features for 441 Bloomfield Ave
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Additional Details
Gross Income
$79,980
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$12,680
Amenities
Central air
3 Units Heating
Blacktop Driveway
Central Air Cooling
Corner
Flat Roof
Irregular Lot
Wall A/C Unit(s) Cooling
Building Details
Year Built
1940
Tenancy
Multi
Listing Agency:
KINGSTONE REALTY
(201) 313-1002
Listed By:
JOON LEE
(201) 694-3777
Source:
Corcoran
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 4 at 3:15PM
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 KINGSTONE REALTY
Investment Insights
Based on property information with market context.
This freestanding storefront property contains 3,000 square feet and is occupied by three tenants. Current commercial uses include a cleaner, a check-cashing business, and a services agency.
Built in 1940, the property occupies a corner position at 441 Bloomfield Ave near 8th Street in Newark City, New Jersey.
Built in 1940, the property occupies a corner position at 441 Bloomfield Ave near 8th Street in Newark City, New Jersey.
Key Highlights
- 3,000‑square‑foot freestanding storefront property
- Three occupied tenant spaces
- Current uses include cleaning, check‑cashing, and services businesses
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
$40,597
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
3.25%
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%
$811,940
$811.9K
Cap Rate 7%
$579,957
$580.0K
Cap Rate 9%
$451,078
$451.1K
Market Conditions
NOI Build-Up for 3,000 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 $21.60/SF
− Vacancy
−$6.8K −$2.27/SF
EGI
$58.0K $19.33/SF
− OpEx
−$17.4K −$5.80/SF
NOI
$40.6K $13.53/SF
Area
ZIP 07107
Vacancy
10.50%
Lease Rate
$21.60 /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%
$811,940
Cap Rate 7%
$579,957
Cap Rate 9%
$451,078
Alternative Uses
Best Use
Retail
$580.0K
$507.5K – $676.6K
NOI $40,597 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,152 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,290
Businesses Nearby
36k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Dining 41%
Home Improvements & Furnishings 5%
Wells Fargo
Shops & Services
9,804 visits/mo
0.1 miles
Sunoco
Shops & Services
8,453 visits/mo
0.5 miles
Wingstop
Dining
6,174 visits/mo
0.2 miles
Domino's Pizza
Dining
3,993 visits/mo
0.3 miles
Carvel Ice Cream
Dining
2,779 visits/mo
0.1 miles
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Corner-positioned retail building with three occupied commercial spaces.
Where is this storefront property located?
The property is located at 441 Bloomfield Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 3,000‑square‑foot freestanding storefront property; Three occupied tenant spaces; Current uses include cleaning, check‑cashing, and services businesses
