Passaic Commercial Property For
For Sale
$395,000
57 8Th Ave, Passaic, NJ 07055
Versatile property with car wash, office space, and basement.
Property Size2,940 SF
Lot Size0.05 Acres
Price / SF$134.35
Days on Market168
Property Features for 57 8Th Ave
General Information
Standard status
Active
Size
2,940 SF
Lot size
0.05 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$9,276
Amenities
Central air
Flat Roof
Forced Hot Air Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
1980
Listing Agency:
COLDWELL BANKER REALTY RDG
(201) 445-9400
Listed By:
MARIANA ZUNIGA
Source:
Corcoran
Added: Feb 21
Changed: Aug 8
Last Checked: Apr 5 at 9:16PM
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 COLDWELL BANKER REALTY RDG
Investment Insights
Based on property information with market context.
Located on 8th Ave in Passaic, this property offers a hand car wash, open office space, and private offices suitable for various businesses. The building includes a spacious basement with 3 bathrooms and a shared rear entrance. The property is well-maintained and benefits from nearby parking. Its location provides convenient access to downtown, highways, and public transit. The property size is 2940 square feet.
Key Highlights
- Versatile property suitable for various business types.
- Includes a hand car wash, open office space, and private offices.
- Spacious basement with 3 bathrooms.
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
$32,999
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
8.35%
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%
$659,980
$660.0K
Cap Rate 7%
$471,414
$471.4K
Cap Rate 9%
$366,656
$366.7K
Market Conditions
NOI Build-Up for 2,940 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
$50.1K $17.04/SF
− Vacancy
−$3.0K −$1.01/SF
EGI
$47.1K $16.03/SF
− OpEx
−$14.1K −$4.81/SF
NOI
$33.0K $11.22/SF
Area
Passaic County, NJ
Vacancy
5.90%
Lease Rate
$17.04 /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%
$659,980
Cap Rate 7%
$471,414
Cap Rate 9%
$366,656
Alternative Uses
Best Use
Specialty Retail
$642.3K
$562.0K – $749.4K
NOI $44,961 @ 7.0% cap · market cap 11.38%
Second Best
Retail
$599.5K
$524.5K – $699.4K
NOI $41,963 @ 7.0% cap · market cap 10.62%
Theoretical Best
Office A
$767.7K
$671.7K – $895.6K
NOI $53,738 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
63k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 66%
Dining 34%
Dollar Tree
Shops & Services
17,831 visits/mo
0.4 miles
Dunkin' Donuts
Dining
14,244 visits/mo
0.5 miles
7-Eleven
Shops & Services
8,025 visits/mo
0.5 miles
Dollar General
Shops & Services
7,575 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,753 visits/mo
0.4 miles
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - Versatile property with car wash, office space, and basement.
Where is this car wash located?
The property is located at 57 8Th Ave Passaic, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Versatile property suitable for various business types.; Includes a hand car wash, open office space, and private offices.; Spacious basement with 3 bathrooms.
