Leonia Multifamily Investment
490 BROAD AVE Leonia, NJ 07605
490 BROAD AVE, Leonia, NJ, 07605
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For Sale
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Multifamily property in Leonia, NJ with convenient access.
Property Size3,400 SF
Lot Size0.22 Acres
Price / SF$448.53
Days on Market65
Property Features for 490 BROAD AVE
General Information
- Standard status
- Active
- Size
- 3,400 SF
- Lot size
- 0.22 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing Agency
Horvath & Tremblay
(201) 215-1801
Listed by
Joseph Prisco · License #NJ 2077598
Source
Crexi
Added: May 14 Checked: Jul 17 at 6:42 am
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
The multi-family investment property at 490 Broad Ave in Leonia, NJ, is a three-story building featuring two 2-bedroom/1-bathroom units and four 1-bedroom/1-bathroom units. The building has a gross area of 3,400 square feet and is situated on a 0.22-acre parcel. Off-street parking is available, including an on-site garage. The property is strategically located along Leonia’s primary commercial corridor, providing direct access to the borough’s neighborhood retail base, surrounding residential communities, and nearby employment centers. It benefits from immediate frontage on Broad Avenue (U.S. Route 9W), a key north–south artery connecting Leonia to Englewood, Palisades Park, and Fort Lee. Its proximity to Interstate 95 (New Jersey Turnpike) and Route 4 provides efficient regional connectivity throughout Northern New Jersey and into New York City, which is located just minutes away via the George Washington Bridge.
Key Highlights
- Excellent location on Broad Avenue (U.S. Route 9W), a primary commercial corridor in Leonia, NJ.
- Close proximity to Interstate 95 (New Jersey Turnpike) and Route 4, offering efficient regional connectivity.
- Easy access to New York City via the George Washington Bridge.
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 | $102.0k | $30.00 |
| − Vacancy | −$6.9k | −$2.04 |
| EGI | $95.1k | $27.96 |
| − OpEx | −$42.8k | −$12.58 |
| NOI | $52.3k | $15.38 |
3,400 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$746.9K
$653.6K – $871.4K
NOI $52,285 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$887.8K
$776.8K – $1.04M
NOI $62,147 @ 7.0% cap · market cap 4.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily property in Leonia, NJ with convenient access.
Where is this apartment building located?
The property is located at 490 BROAD AVE Leonia, NJ.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Excellent location on Broad Avenue (U.S. Route 9W), a primary commercial corridor in Leonia, NJ.; Close proximity to Interstate 95 (New Jersey Turnpike) and Route 4, offering efficient regional connectivity.; Easy access to New York City via the George Washington Bridge.
