Three-Unit Mixed-Use
For Sale
$1,200,000
466 Bloomfield Ave, Caldwell, NJ 07006
One leased unit provides current occupancy, while two additional spaces offer flexibility for leasing or owner use.
Property Size6,460 SF
Price / SF$185.76
Days on Market46
Property Features for 466 Bloomfield Ave
General Information
Standard status
Active
Size
6,460 SF
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
EXP REALTY, LLC
(973) 786-2247
Listed By:
HECTOR R. ROJAS
Source:
Luminancerealty
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 28 at 7:36AM
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.
466 Bloomfield Ave is a 6,460-square-foot mixed-use property built in 1900. The building contains three units, including one currently leased, with two additional spaces available for occupancy, leasing, or repositioning. This configuration can accommodate an owner-user arrangement or continued multi-unit leasing, subject to applicable requirements.
The property fronts Bloomfield Avenue in Caldwell and is positioned within an active commercial corridor. Restaurants, retail businesses, and residential neighborhoods are located nearby, with both pedestrian and vehicle activity along the avenue. The combination of existing occupancy and available units creates a flexible commercial layout for an owner or investor evaluating different operating strategies.
The property fronts Bloomfield Avenue in Caldwell and is positioned within an active commercial corridor. Restaurants, retail businesses, and residential neighborhoods are located nearby, with both pedestrian and vehicle activity along the avenue. The combination of existing occupancy and available units creates a flexible commercial layout for an owner or investor evaluating different operating strategies.
Key Highlights
- 6,460‑square‑foot mixed‑use property built in 1900
- Three‑unit configuration with one unit currently leased
- Two additional spaces available for occupancy or leasing
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
$92,205
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
7.68%
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%
$1,844,100
$1.8M
Cap Rate 7%
$1,317,214
$1.3M
Cap Rate 9%
$1,024,500
$1.0M
Market Conditions
NOI Build-Up for 6,460 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
$139.5K $21.60/SF
− Vacancy
−$7.8K −$1.21/SF
EGI
$131.7K $20.39/SF
− OpEx
−$39.5K −$6.12/SF
NOI
$92.2K $14.27/SF
Area
Essex 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%
$1,844,100
Cap Rate 7%
$1,317,214
Cap Rate 9%
$1,024,500
Alternative Uses
Best Use
Retail
$1.32M
$1.15M – $1.54M
NOI $92,205 @ 7.0% cap · market cap 7.68%
Second Best
Mixed Use
$1.27M
$1.11M – $1.49M
NOI $89,148 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,078 @ 7.0% cap · market cap 9.84%
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
1,221
Businesses Nearby
36k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 40%
Shops & Services 33%
Home Improvements & Furnishings 25%
Dining 3%
Super Foodtown
Groceries
14,427 visits/mo
0.3 miles
7-Eleven
Shops & Services
9,540 visits/mo
0.4 miles
Costello's Ace Hardware
Home Improvements & Furnishings
9,077 visits/mo
0.1 miles
Minuteman Press
Shops & Services
1,231 visits/mo
0.3 miles
Pep Boys Auto Parts & Service
Shops & Services
1,047 visits/mo
0.3 miles
Demographics for 07006, NJ
26,733
Population
10,183
Households
2.6
Avg Household Size
42
Median Age
65%
College-Educated
96%
High-School Grad
9.3 sq mi
ZIP Area
2,875
Density / Sq Mi
$148,645
Median Household Income
$74,342
Median Earnings
$1,973
Median Rent
$667,300
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?
Mixed-use property - One leased unit provides current occupancy, while two additional spaces offer flexibility for leasing or owner use.
Where is this mixed-use property located?
The property is located at 466 Bloomfield Ave Caldwell, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6,460‑square‑foot mixed‑use property built in 1900; Three‑unit configuration with one unit currently leased; Two additional spaces available for occupancy or leasing
