Mixed-Use Building in Roselle
511 W Westfield Ave, Roselle Park, NJ 07204
For Sale
$699,000
Spacious mixed-use building with storefront and residential apartment.
Property Size1,873 SF
Lot Size0.04 Acres
Days on Market245
Property Features for 511 W Westfield Ave
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Stories
Units
Listing Agency:
RE/MAX 1ST ADVANTAGE
Listed By:
MAREK KRAJNIK · License #256762
(908) 400-1958
Source:
Elliman
Added: Mar 10
Changed: Aug 14
Last Checked: Aug 14 at 6:03AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$26,734
Cap Rate
3.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,680
$534.7K
Cap Rate 7%
$381,914
$381.9K
Cap Rate 9%
$297,044
$297.0K
Market Conditions
NOI Build-Up for 1,873 SF
Gross rent
$40.5K $21.60/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$38.2K $20.39/SF
− OpEx
−$11.5K −$6.12/SF
NOI
$26.7K $14.27/SF
Area
Union 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%
$534,680
Cap Rate 7%
$381,914
Cap Rate 9%
$297,044
Alternative Uses
Best Use
Retail
$381.9K
$334.2K – $445.6K
NOI $26,734 @ 7.0% cap · market cap 3.82%
Second Best
Mixed Use
$353.2K
$309.1K – $412.1K
NOI $24,724 @ 7.0% cap · market cap 3.54%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
852
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 83%
Dining 16%
Home Improvements & Furnishings 1%
Wawa
Shops & Services
41,086 visits/mo
0.3 miles
BP
Shops & Services
9,772 visits/mo
0.3 miles
Burger King
Dining
7,849 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,349 visits/mo
0.2 miles
Frenchy's
Dining
3,083 visits/mo
0.1 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
$405,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Union County, NJ
Properties on Market for Mixed-use properties in Union County
Vacancy Rate% for Retail in Northeast region
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.**
