Auto Repair Garage with Two
For Sale
$799,999
516 William St #516, East Orange, NJ 07017
A separate large space, office, storage area, and two bathrooms complement the service area.
Property Size1,601 SF
Price / SF$499.69
Days on Market179
Property Features for 516 William St #516
General Information
Standard status
Active
Size
1,601 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
Commercial
Automotive
Service Bays
2
Automotive Uses
auto repair
Tenancy & Operations
Currently Operating
Yes
Real Estate Included
Yes
Additional Details
Road Access
Yes
Amenities
office
separate space
storage area
bathrooms
Building Details
Building Size
1,601 SF
Stories
1
Units
1
Listing Agency:
Tyrone Coull Realty
Listed By:
Tyrone Coull
(973) 395-4451
Source:
Culturaunitedrealty
Added: Apr 29
Changed: Oct 23
Last Checked: Oct 23 at 4:58PM
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 Tyrone Coull Realty
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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 commercial auto shop is an operating repair facility with two vehicle lifts, a large office, a separate large space, storage, and two bathrooms. The real estate is being offered; the operating business is not included. The facility has served as an auto repair location for more than 50 years.
At the corner of William and Lincoln Streets in East Orange, the property has a traffic signal at the intersection. On-site parking accommodates more than 20 vehicles. The surrounding urban area includes residential properties and local businesses, with access to train service and approximately 10 bus lines.
The property is zoned Commercial and is within an Urban Enterprise Zone. Redevelopment proposals would require appropriate approvals; the source also identifies PILOT agreements and zoning updates among area redevelopment considerations.
At the corner of William and Lincoln Streets in East Orange, the property has a traffic signal at the intersection. On-site parking accommodates more than 20 vehicles. The surrounding urban area includes residential properties and local businesses, with access to train service and approximately 10 bus lines.
The property is zoned Commercial and is within an Urban Enterprise Zone. Redevelopment proposals would require appropriate approvals; the source also identifies PILOT agreements and zoning updates among area redevelopment considerations.
Key Highlights
- Operating auto repair facility for more than 50 years; business is not included in the sale
- Two vehicle lifts, a large office, separate large space, storage area, and two bathrooms
- Parking for 20+ vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,852
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$457,040
$457.0K
Cap Rate 7%
$326,457
$326.5K
Cap Rate 9%
$253,911
$253.9K
Market Conditions
NOI Build-Up for 1,601 SF
Gross rent
$34.6K $21.60/SF
− Vacancy
−$1.9K −$1.21/SF
EGI
$32.6K $20.39/SF
− OpEx
−$9.8K −$6.12/SF
NOI
$22.9K $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%
$457,040
Cap Rate 7%
$326,457
Cap Rate 9%
$253,911
Alternative Uses
Best Use
Retail
$326.5K
$285.7K – $380.9K
NOI $22,852 @ 7.0% cap · market cap 2.86%
Second Best
Industrial
$262.1K
$229.3K – $305.8K
NOI $18,346 @ 7.0% cap · market cap 2.29%
Theoretical Best
Office A
$418.1K
$365.8K – $487.7K
NOI $29,264 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Service bays
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,379
Businesses Nearby
169k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 39%
Electronics 2%
Hotels & Casinos 2%
McDonald's
Dining
44,610 visits/mo
0.5 miles
Wawa
Shops & Services
32,162 visits/mo
0.5 miles
Wendy's
Dining
21,731 visits/mo
0.2 miles
BP
Shops & Services
13,899 visits/mo
0.2 miles
Family Dollar
Shops & Services
11,065 visits/mo
0.2 miles
Demographics for 07017, NJ
39,054
Population
16,770
Households
2.3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
2.3 sq mi
ZIP Area
16,980
Density / Sq Mi
$61,552
Median Household Income
$39,847
Median Earnings
$1,346
Median Rent
$316,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Belgraves Auto Repair — 80 Sanford St, East Orange, NJ 07018
- ATM (Central & Grove Mobil Services Center) — 462 Central Ave, East Orange, NJ 07018
- Auto Glass & Windshield Replacement of East Orange — 462 central ave, east orange, nj 07018
- Unique Auto Works — 415 Central Ave, East Orange, NJ 07018
- S.A.G CUSTOMS — 415 Central Ave, East Orange, NJ 07018
Frequently Asked Questions
What type of property is this?
Auto shop - A separate large space, office, storage area, and two bathrooms complement the service area.
Where is this auto shop located?
The property is located at 516 William St #516 East Orange, NJ.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Operating auto repair facility for more than 50 years; business is not included in the sale; Two vehicle lifts, a large office, separate large space, storage area, and two bathrooms; Parking for 20+ vehicles
