Leonia Multifamily Investment
For Sale
Contact for pricing
490 Broad Avenue, Leonia, NJ 07605
Multifamily property in Leonia, NJ with convenient access.
Property Size3,400 SF
Lot Size0.22 Acres
Price / SF$370.59
Days on Market157
Property Features for 490 Broad Avenue
General Information
Standard status
Active
Size
3,400 SF
Lot size
0.22 Acres
Property subtype
Multifamily
Net Operating Income
$91,965
Building Details
Year Built
1930
Buildings
1
Stories
3
Units
6
Listing Agency:
Horvath & Tremblay
Listed By:
Michael Lombardi · License #0569706
(201) 215-1801
Source:
Crexi
Added: May 14
Changed: Oct 11
Last Checked: Oct 16 at 7:50AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,285
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,700
$1.0M
Cap Rate 7%
$746,929
$746.9K
Cap Rate 9%
$580,944
$580.9K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$102.0K $30.00/SF
− Vacancy
−$6.9K −$2.04/SF
EGI
$95.1K $27.96/SF
− OpEx
−$42.8K −$12.58/SF
NOI
$52.3K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,045,700
Cap Rate 7%
$746,929
Cap Rate 9%
$580,944
Alternative Uses
Best Use
Apartment 5plus
$746.9K
$653.6K – $871.4K
NOI $52,285 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$887.8K
$776.8K – $1.04M
NOI $62,147 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Explore this area
Business Placement
Demographics for 07605, NJ
9,324
Population
3,581
Households
2.6
Avg Household Size
44
Median Age
61%
College-Educated
92%
High-School Grad
1.5 sq mi
ZIP Area
6,216
Density / Sq Mi
$115,476
Median Household Income
$66,632
Median Earnings
$2,122
Median Rent
$634,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 Avenue Leonia, NJ.
What is the asking price?
The asking price for this property is $1,260,000.
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.
