Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Building in Nutley Title is generated by Realmo AI

    47 Washington Ave, Nutley, NJ 07110

    View on Map
    Claim this Listing
    For Sale
    $1,695,000

    Mixed-use building with commercial units and updated apartments in Nutley.

    Type:Commercial
    Property size:
    9,524 SF
    Price / SF:
    $177/SF
    Added:
    Feb 17, 2026
    Days on Market:
    107
    Last Refresh:
    Apr 5 at 8:29 pm

    Property Features for 47 Washington Ave

    General Information

    Standard status
    Active
    Size
    9,524 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2021

    We can help!

    Listing Contact
    SHERYL MADONNA

    Listing agent SHERYL MADONNA

    Listing office WEICHERT REALTORS

    Listing date Feb 17, 2026

    Source Corcoran

    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 WEICHERT REALTORS

    HighLights

    • Prime location on Washington Ave, a main thoroughfare in Nutley.
    • Mixed‑use building featuring 3 commercial units and 3 updated two‑bedroom apartments.
    • Finished basement with half bath.
    • Close proximity to NJ Transit for easy access to NYC.
    • Centrally located to all major highways.
    • Newly constructed in 2021.

    Overview

    This mixed-use building is located on Washington Avenue, a main thoroughfare in Nutley. The property includes three commercial units and three updated two-bedroom apartments. It also features a finished basement with a half bath. The property is located close to NJ Transit, offering service into NYC, and is centrally located to all major highways. The building has a total property size of 9524 square feet.

    Local 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 $285.7k $30.00
    − Vacancy −$19.4k −$2.04
    EGI $266.3k $27.96
    − OpEx −$119.8k −$12.58
    NOI $146.5k $15.38
    9,524 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $2.09M
    $1.83M – $2.44M (±1% cap)
    NOI $146,460 @ 7.0% cap · market cap 8.64%
    Second Best
    Retail
    $1.94M
    $1.70M – $2.27M (±1% cap)
    NOI $135,939 @ 7.0% cap · market cap 8.02%
    Theoretical Best
    Office A
    $2.49M
    $2.18M – $2.90M (±1% cap)
    NOI $174,083 @ 7.0% cap · market cap 10.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Spa Glam Girl ... Event Planning Glam Spa - Glamour ... Spa & Massage Center Event Entertainment DJ, ... Theater & Performing Art Venue Birthday Party Spa ... Event Planning inner beauty dry ... Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nutley
    County
    Essex
    State
    New Jersey
    Longitude
    -74.147
    Latitude
    40.808

    Nearby Similar for Sale

    • $1,195,000
      3,056 SF

      Medical Office Building For Sale

      3,056 SF medical office building on Franklin Avenue.
      582 Franklin Ave, Nutley Twp., NJ 07110-1253
      View Details
    • $1,435,000
      4,450 SF

      Four-Unit Multifamily Property

      Legal four-unit Victorian with two units vacant at delivery, plus private 8-car parking and separate utilities for all units.
      96 Hillside Ave, Nutley Twp., NJ 07110-1614
      View Details
    • $799,000
      2,256 SF

      Well-Maintained Two-Family Home in Nutley

      Two-family home in Nutley with modern amenities and convenient location.
      145 Harrison St, Nutley Twp., NJ 07110-3261
      View Details
    • $2,195,000
      7,000 SF

      Restaurant-Bar and Apartments Building

      Mixed-use building with a renovated restaurant/bar and four well-maintained residential apartments above in Nutley Twp.
      2 E Passaic Ave, Nutley Twp., NJ 07110-3049
      View Details
    • $699,000

      Nutley Twp. Multi-Family Property

      Two-family property with updated kitchen and bath, convenient location.
      151 Conover Ave, Nutley Twp., NJ 07110-3381
      View Details
    • $1,199,000

      Modern Multi-Family Home in Nutley

      Built in 2017, modern design, convenient location, spacious units.
      38 Centre St, Nutley Twp., NJ 07110-3725
      View Details
    • $799,000
      2,907 SF

      Three-Unit Home with NYC Views

      Turnkey three-unit property in Nutley Twp. with NYC views.
      Nutley Twp., NJ 07110-3730
      View Details
    • $179,900

      Nutley Twp. Office Condo

      Professional office condo with reception area, conference room, and entrances.
      640 Franklin Avenue, Nutley Twp., NJ 07110-1200
      View Details
    • $1,950,000
      5,600 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171-173 Franklin, Nutley, NJ 07110
      View Details
    • $1,359,000
      12,500 SF

      Mixed-Use Income Property in Nutley

      Mixed-use property with warehouse, storefront, and apartments in Nutley.
      171 Franklin Ave, Nutley Twp., NJ 07110
      View Details
    • Contact for pricing

      Mixed-Use Building with Retail Space

      Three-story brick building with apartments, retail, and on-site parking.
      140 East Centre Street, Nutley, NJ 07110
      View Details
    • $759,000

      Mixed-Use Building in Nutley

      Mixed-use building with office and residential units, convenient location.
      637 Bloomfield Ave, Nutley Twp., NJ 07110
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with commercial units and updated apartments in Nutley.
    Where is this mixed-use property located?
    The property is located at 47 Washington Ave Nutley, NJ.
    What is the asking price?
    The asking price for this property is $1,695,000.
    What are key features of this property?
    This property features: Prime location on Washington Ave, a main thoroughfare in Nutley.; Mixed‑use building featuring 3 commercial units and 3 updated two‑bedroom apartments.; Finished basement with half bath.
    (973) 779-1900
    We can help!
    Listing Contact
    SHERYL MADONNA
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    47 Washington Ave, Nutley Twp., NJ 07110
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!