Mixed-Use Building in Roselle
For Sale
$699,000
511 W Westfield Ave, Roselle Park, NJ 07204
Spacious mixed-use building with storefront and residential apartment.
Property Size1,873 SF
Lot Size0.04 Acres
Days on Market153
Property Features for 511 W Westfield Ave
General Information
Standard status
Active
Size
1,873 SF
Lot size
0.04 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,671
Building Details
Building Size
1,873 SF
Stories
2
Units
2
Listing Agency:
RE/MAX 1ST ADVANTAGE
(908) 400-1958
Listed By:
MAREK KRAJNIK · License #256762
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:54AM
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 RE/MAX 1ST ADVANTAGE
Investment Insights
Based on property information with market context.
This spacious mixed-use building is located in the heart of Roselle Park, at a busy corner location offering great visibility. The property features a main level storefront with a back room, presenting a blank canvas for renovation. The second floor includes a residential apartment with 3 bedrooms, a living room, an eat-in kitchen, and a full bath. On-site parking and a private entry are included, along with a full basement providing ample storage space. The property is close to public transit, the Garden State Parkway, dining, and shopping.
Key Highlights
- Busy corner location with great visibility for business.
- Mixed‑use building with storefront and residential apartment.
- Residential apartment features 3 bedrooms, living room, eat‑in kitchen and full bath.
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
$28,803
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
4.12%
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%
$576,060
$576.1K
Cap Rate 7%
$411,471
$411.5K
Cap Rate 9%
$320,033
$320.0K
Market Conditions
NOI Build-Up for 1,873 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
$56.2K $30.00/SF
− Vacancy
−$3.8K −$2.04/SF
EGI
$52.4K $27.96/SF
− OpEx
−$23.6K −$12.58/SF
NOI
$28.8K $15.38/SF
Area
Union 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 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%
$576,060
Cap Rate 7%
$411,471
Cap Rate 9%
$320,033
Alternative Uses
Best Use
Apartment 5plus
$411.5K
$360.0K – $480.1K
NOI $28,803 @ 7.0% cap · market cap 4.12%
Second Best
Retail
$381.9K
$334.2K – $445.6K
NOI $26,734 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$489.1K
$427.9K – $570.6K
NOI $34,235 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,269
Businesses Nearby
260k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 41%
Shops & Services 26%
Dining 19%
Home Improvements & Furnishings 11%
ShopRite
Groceries
65,275 visits/mo
0.0 miles
Food Bazaar Supermarket
Groceries
41,340 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
29,814 visits/mo
0.2 miles
Dollar General
Shops & Services
25,092 visits/mo
0.2 miles
Dunkin' Donuts
Dining
16,211 visits/mo
0.3 miles
Demographics for 07204, NJ
13,984
Population
5,373
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
11,653
Density / Sq Mi
$104,418
Median Household Income
$55,974
Median Earnings
$1,585
Median Rent
$405,800
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 - Spacious mixed-use building with storefront and residential apartment.
Where is this mixed-use property located?
The property is located at 511 W Westfield Ave Roselle Park, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Busy corner location with great visibility for business.; Mixed‑use building with storefront and residential apartment.; Residential apartment features **3 bedrooms, living room, eat‑in kitchen and full bath.**
