Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    533 East 2nd Avenue Roselle, NJ 7203

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    35-unit apartment building in Roselle, NJ with tax PILOT.

    Type:Multifamily
    Added:
    Jan 27, 2026
    Days on Market:
    64
    Last Refresh:
    Mar 25 at 9:25 pm

    Property Features for 533 East 2nd Avenue

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Joni Sweetwood

    Listing agent Joni Sweetwood

    Listing office

    Listing date Jan 27, 2026

    Source Kislakrealty

    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 Joni Sweetwood

    Overview

    Roselle Apartment Building For Sale

    Sheridan Gardens is a four and one-half story brick elevator apartment building featuring 35 residential units. The property is located in Roselle, NJ, and benefits from a tax PILOT program, set at 10% of income, which has 15 years remaining. Tenants are responsible for covering their electric and gas heat expenses. On-site parking is available, accommodating 20 cars within a gated and striped area. The property features new landscaping that is piped for sprinklers, along with security cameras and a key fob entry system. A laundry room is located on the premises. Recent upgrades include a new entrance and bluestone walkway, as well as LED lighting throughout. Approximately 20 years ago, all systems, including electric, plumbing, mechanicals, and the roof, were replaced. The hot water heaters were replaced 10 years ago. A/C sleeves are installed.
    Location Intelligence

    Current Use by Public Records

    Sheridan Gardens Garden Center One Chimney Sweep ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Roselle
    County
    Union
    State
    New Jersey
    Longitude
    -74.2502
    Latitude
    40.6607

    Nearby Similar for Sale

    • $649,900
      2,324 SF

      Spacious Two-Family Home in Roselle

      Large 2-family home with income potential, convenient location.
      1025 Rivington Street, Roselle, NJ 07203
      View Details
    • $1,100,000

      Profitable Mixed-Use Property with Liquor

      Mixed-use property with established business, apartments, and liquor license.
      500 Chandler Ave, Roselle Boro, NJ 07203-2138
      View Details
    • $1,200,000
      3,400 SF

      Turn-Key Restaurant and Bar

      Well-established restaurant with full liquor license and loyal clientele.
      105 Linden Rd, Roselle Boro, NJ 07203
      View Details
    • $479,000

      Roselle Multifamily Investment Opportunity

      Multifamily property in Roselle near shopping, parks, and transportation.
      421-423 Bartlett St, Roselle Boro, NJ 07203
      View Details
    • $599,900
      2,604 SF

      Mixed-Use Property with Residential Income

      Three-unit property with commercial and residential income in a strong market.
      301 E 9Th Ave, Roselle Boro, NJ 07203
      View Details
    • $649,900

      Spacious Multi-Family Home in Roselle

      Two-family home with income potential, convenient location, and ample space.
      1025 Rivington St, Roselle Boro, NJ 07203-2721
      View Details
    • Contact for pricing
      3,200 SF

      Roselle Commercial Property on 1st Avenue

      Commercial property suitable for retail, service, or professional uses.
      639 W 1st Ave, Roselle, NJ 07203
      View Details
    • Contact for pricing
      11,000 SF

      Roselle Multifamily Building for Sale

      Four-story brick building with 17 units in Roselle, NJ.
      234 Walnut Street, Roselle, NJ 07203
      View Details
    • $250,000

      Established Farmers' Market For Sale

      Well-established farmers' market with high sales volume and growth potential.
      711 1st, Roselle, NJ 07203
      View Details
    • $1,100,000

      Profitable Mixed-Use Property with License

      Mixed-use property featuring a deli/liquor store and residential units.
      500 Chandler Ave, Roselle Boro, NJ 07203
      View Details
    • Contact for pricing
      32,000 SF

      Roselle Industrial Warehouse Space

      32,000 SqFt industrial warehouse space available for sale.
      169 - 193 E Highland Parkway, Roselle, NJ 07203
      View Details
    • Contact for pricing
      15,996 SF

      Industrial Property Available

      15,996 SqFt industrial property for sale.
      300 Cox Street, Roselle, NJ 07203
      View Details

    FAQs

    What type of property is this?
    Apartment building - 35-unit apartment building in Roselle, NJ with tax PILOT.
    Where is this apartment building located?
    The property is located at 533 East 2nd Avenue Roselle, NJ.
    What are key features of this property?
    This property features: Tax PILOT (10% of income for 15 more years); NO RENT CONTROL; Gated and striped on‑site parking for 20 cars
    (732) 750-3000
    We can help!
    Listing Contact
    Joni Sweetwood
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!