Storefront Property with
For Sale
Contact for pricing
507 Central Ave, East Orange, NJ 07018
Adaptable commercial space positioned along a corridor serving both pedestrian and vehicle traffic.
Property Size4,000 SF
Price / SF$1.73
Days on Market71
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 507 Central Ave
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
1960
Listing Agency:
KELLER WILLIAMS PARK VIEWS
Listed By:
JAVIER GOMEZ · License #261004
(201) 939-0050
Source:
Goldstandardrealty
Added: Aug 6
Changed: Oct 6
Last Checked: Oct 7 at 5:35PM
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 KELLER WILLIAMS PARK VIEWS
Investment Insights
Based on property information with market context.
This storefront property provides approximately 4,000 SF of interior space alongside a separate 4,000 SF parking area. The layout is described as flexible for retail, grocery, urgent care, and service-oriented operations, allowing the space to accommodate different commercial formats. The property was constructed in 1960.
Located at 507 Central Ave in East Orange City, NJ, the site occupies a visible commercial corridor with both walking and vehicle traffic. Frontage and accessibility support customer arrival and business identification, while the on-site parking area adds convenience for visitors and staff.
Located at 507 Central Ave in East Orange City, NJ, the site occupies a visible commercial corridor with both walking and vehicle traffic. Frontage and accessibility support customer arrival and business identification, while the on-site parking area adds convenience for visitors and staff.
Key Highlights
- Approximately 4,000 SF of interior storefront space
- Separate 4,000 SF parking area
- 507 Central Ave, East Orange City, NJ 07018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,093
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,141,860
$1.1M
Cap Rate 7%
$815,614
$815.6K
Cap Rate 9%
$634,367
$634.4K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$86.4K $21.60/SF
− Vacancy
−$4.8K −$1.21/SF
EGI
$81.6K $20.39/SF
− OpEx
−$24.5K −$6.12/SF
NOI
$57.1K $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 Rate 5%
$1,141,860
Cap Rate 7%
$815,614
Cap Rate 9%
$634,367
Alternative Uses
Best Use
Retail
$815.6K
$713.7K – $951.6K
NOI $57,093 @ 7.0% cap · market cap 827.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$913.9K – $1.22M
NOI $73,114 @ 7.0% cap · market cap 1,059.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,520
Businesses Nearby
190k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 46%
Electronics 2%
Hotels & Casinos 2%
Popeyes Louisiana Kitchen
Dining
17,085 visits/mo
0.3 miles
Burger King
Dining
16,673 visits/mo
0.3 miles
Dunkin' Donuts
Dining
16,273 visits/mo
0.1 miles
BP
Shops & Services
13,899 visits/mo
0.4 miles
7-Eleven
Shops & Services
13,216 visits/mo
0.5 miles
Demographics for 07018, NJ
30,429
Population
13,107
Households
2.3
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
17,899
Density / Sq Mi
$59,039
Median Household Income
$39,630
Median Earnings
$1,410
Median Rent
$314,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Maxine's Flowers — 361 S Clinton St, East Orange, NJ 07018
- SSD Flowers — 392 Main St, East Orange, NJ 07018
- Lilies Bloom — 51 N Walnut St, East Orange, NJ 07017
Frequently Asked Questions
What type of property is this?
Storefront property - Adaptable commercial space positioned along a corridor serving both pedestrian and vehicle traffic.
Where is this storefront property located?
The property is located at 507 Central Ave East Orange, NJ.
What are key features of this property?
This property features: Approximately 4,000 SF of interior storefront space; Separate 4,000 SF parking area; 507 Central Ave, East Orange City, NJ 07018
