Mixed-Use Downtown Retail and
For Sale
$1,500,000
522 Bloomfield Ave, Verona, NJ 07044
Downtown mixed-use building with multiple retail spaces and apartments, positioned across from Verona Park.
Property Size5,360 SF
Price / SF$279.85
Days on Market56
Property Features for 522 Bloomfield Ave
General Information
Standard status
Active
Size
5,360 SF
Property subtype
Commercial
Building Details
Year Built
1912
Listing Agency:
BHHS FOX & ROACH
(973) 992-6363
Listed By:
ROMAN DRUKAROV
Source:
Corcoran
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 5 at 4:47AM
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 BHHS FOX & ROACH
Investment Insights
Based on property information with market context.
This mixed-use property for sale includes three retail spaces on Bloomfield Ave and two apartments on the second floor. In addition, there is a 1,600-square-foot retail space at the rear of the building currently used for manufacturing. The configuration supports both street-level retail activity and income generation from residential units within the same structure.
The building is situated at a four-way signalized intersection in the heart of downtown Verona, directly across from Verona Park. This positioning provides prominent access and visibility for the street-front retail components.
With Town Center-Mixed Use zoning, the asset offers flexibility for future tenants as occupancy changes. The combination of multiple retail bays, a rear flexible space currently operating as manufacturing, and second-floor apartments can fit investors or owner-operators seeking a multi-income property in a walkable downtown setting where retail and mixed-use users may be considered. The existing layout allows for continued retail operations while also providing a clear path to adapt the back space depending on tenant requirements at turnover.
The building is situated at a four-way signalized intersection in the heart of downtown Verona, directly across from Verona Park. This positioning provides prominent access and visibility for the street-front retail components.
With Town Center-Mixed Use zoning, the asset offers flexibility for future tenants as occupancy changes. The combination of multiple retail bays, a rear flexible space currently operating as manufacturing, and second-floor apartments can fit investors or owner-operators seeking a multi-income property in a walkable downtown setting where retail and mixed-use users may be considered. The existing layout allows for continued retail operations while also providing a clear path to adapt the back space depending on tenant requirements at turnover.
Key Highlights
- Mixed‑use building built in 1912 in downtown Verona.
- 3 retail spaces on Bloomfield Ave plus a 1,600 SF back retail space currently used for manufacturing.
- 2 apartments located on the 2nd floor.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $137.0k | $25.56 |
| − Vacancy | −$8.9k | −$1.65 |
| EGI | $128.2k | $23.91 |
| − OpEx | −$38.4k | −$7.17 |
| NOI | $89.7k | $16.74 |
5,360 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.50M
NOI $89,706 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,426 @ 7.0% cap · market cap 5.50%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,972 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Explore this area
Business Placement
Demographics for 07044, NJ
14,572
Population
5,997
Households
2.4
Avg Household Size
44
Median Age
68%
College-Educated
98%
High-School Grad
2.8 sq mi
ZIP Area
5,204
Density / Sq Mi
$159,044
Median Household Income
$85,852
Median Earnings
$2,125
Median Rent
$595,000
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown mixed-use building with multiple retail spaces and apartments, positioned across from Verona Park.
Where is this mixed-use property located?
The property is located at 522 Bloomfield Ave Verona, NJ.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Mixed‑use building built in 1912 in downtown Verona.; 3 retail spaces on Bloomfield Ave plus a 1,600 SF back retail space currently used for manufacturing.; 2 apartments located on the 2nd floor.
