Tenant-Occupied
New
For Sale
$850,000
52 Thomas St, Bloomfield, NJ 07003
Three separate laundry units and private driveway parking complement the existing three-apartment configuration.
Property Size2,600 SF
Price / SF$326.92
Days on Market3
Property Features for 52 Thomas St
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
laundry
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
RE/MAX SELECT
Listed By:
NICHOLAS WALSH · License #405956
(908) 233-9292
Source:
Goldstandardrealty
Added: Sep 13
Last Checked: Sep 14 at 4:54PM
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 SELECT
Investment Insights
Based on property information with market context.
This three-unit residential property contains approximately 2,600 square feet of living area, with a combined layout of 6 bedrooms and 3 full bathrooms. Constructed in 1930, the building includes a basement with three individual laundry units, assigned one per apartment. All three apartments are currently occupied by tenants, and the private driveway accommodates parking for up to five vehicles.
The property is located at 52 Thomas St in Bloomfield Township, New Jersey. Bloomfield train station is within a short walk, with parks, shopping, dining, and other local amenities also situated nearby. The combination of an established three-unit format, dedicated laundry facilities, on-site driveway parking, and current occupancy provides a clearly defined multifamily property profile.
The property is located at 52 Thomas St in Bloomfield Township, New Jersey. Bloomfield train station is within a short walk, with parks, shopping, dining, and other local amenities also situated nearby. The combination of an established three-unit format, dedicated laundry facilities, on-site driveway parking, and current occupancy provides a clearly defined multifamily property profile.
Key Highlights
- Three‑unit property with approximately 2,600 square feet of living space
- Combined layout includes 6 bedrooms and 3 full bathrooms
- All three apartments are currently tenant occupied
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
$43,514
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
5.12%
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%
$870,280
$870.3K
Cap Rate 7%
$621,629
$621.6K
Cap Rate 9%
$483,489
$483.5K
Market Conditions
NOI Build-Up for 2,600 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
$66.5K $25.56/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$62.2K $23.91/SF
− OpEx
−$18.6K −$7.17/SF
NOI
$43.5K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
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%
$870,280
Cap Rate 7%
$621,629
Cap Rate 9%
$483,489
Alternative Uses
Best Use
Multifamily LT 5
$621.6K
$543.9K – $725.2K
NOI $43,514 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$571.2K
$499.8K – $666.4K
NOI $39,983 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$678.9K
$594.1K – $792.1K
NOI $47,524 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,412
Businesses Nearby
Explore this area
Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate laundry units and private driveway parking complement the existing three-apartment configuration.
Where is this triplex located?
The property is located at 52 Thomas St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑unit property with approximately 2,600 square feet of living space; Combined layout includes 6 bedrooms and 3 full bathrooms; All three apartments are currently tenant occupied
