Retail Storefront
For Sale
Contact for pricing
45 Prospect Street, Passaic, NJ 07055
For sale retail storefront on Prospect Street, offering a straightforward option for tenants and investors needing street-level space.
Property Size4,500 SF
Price / SF$222.22
Days on Market92
Property Features for 45 Prospect Street
General Information
Standard status
Active
Size
4,500 SF
Class
C
Property subtype
Retail, Mixed Use
Zoning
B-3
Lease Type
Gross
Investment Type
Owner/User
Building Details
Year Built
1948
Buildings
1
Units
1
Listing Agency:
Clifton CRE
Listed By:
Meir Mizrachi · License #NJ 1861520
Source:
Crexi
Added: Jun 1
Changed: Aug 25
Last Checked: Aug 31 at 9:28AM
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 Clifton CRE
Investment Insights
Based on property information with market context.
This listing offers a retail storefront property for sale, positioned for businesses that benefit from direct street-level presence. The asset is identified as a retail space within the broader commercial retail category and is being marketed for buyers seeking a manageable retail format.
The property is located at 45 Prospect Street in Passaic, New Jersey. No additional site details are provided in the available information, so prospective buyers and brokers should confirm the specific layout, condition, and any improvements during their due diligence.
As a retail storefront, this property can be a practical fit for operators looking to establish a customer-facing location or for investors interested in acquiring a defined retail asset. Because the provided materials do not specify tenancy, unit configuration, or lease terms, interested parties should request the full offering package to evaluate how the space can be used, maintained, and monetized to align with their business or investment objectives.
The property is located at 45 Prospect Street in Passaic, New Jersey. No additional site details are provided in the available information, so prospective buyers and brokers should confirm the specific layout, condition, and any improvements during their due diligence.
As a retail storefront, this property can be a practical fit for operators looking to establish a customer-facing location or for investors interested in acquiring a defined retail asset. Because the provided materials do not specify tenancy, unit configuration, or lease terms, interested parties should request the full offering package to evaluate how the space can be used, maintained, and monetized to align with their business or investment objectives.
Key Highlights
- Retail storefront for sale on Prospect Street
- Year built: 1948
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
$64,230
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
6.42%
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%
$1,284,600
$1.3M
Cap Rate 7%
$917,571
$917.6K
Cap Rate 9%
$713,667
$713.7K
Market Conditions
NOI Build-Up for 4,500 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
$97.2K $21.60/SF
− Vacancy
−$5.4K −$1.21/SF
EGI
$91.8K $20.39/SF
− OpEx
−$27.5K −$6.12/SF
NOI
$64.2K $14.27/SF
Area
Passaic County, NJ
Vacancy
5.60%
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%
$1,284,600
Cap Rate 7%
$917,571
Cap Rate 9%
$713,667
Alternative Uses
Best Use
Retail
$917.6K
$802.9K – $1.07M
NOI $64,230 @ 7.0% cap · market cap 6.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,253 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,899
Businesses Nearby
228k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Shops & Services 30%
Groceries 22%
Apparel 12%
Superfresh
Groceries
30,748 visits/mo
0.4 miles
McDonald's
Dining
26,851 visits/mo
0.5 miles
Wendy's
Dining
24,038 visits/mo
0.2 miles
C-Town Supermarkets
Groceries
18,955 visits/mo
0.2 miles
Chase Bank
Shops & Services
16,728 visits/mo
0.3 miles
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront on Prospect Street, offering a straightforward option for tenants and investors needing street-level space.
Where is this storefront property located?
The property is located at 45 Prospect Street Passaic, NJ.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Retail storefront for sale on Prospect Street; Year built: 1948
