Passaic Commercial Property For
57 8Th Ave, Passaic, NJ 07055
For Sale
$395,000
Versatile property with car wash, office space, and basement.
Property Size2,940 SF
Lot Size0.05 Acres
Price / SF$134.35
Days on Market262
Property Features for 57 8Th Ave
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Flat Roof
Forced Hot Air Heating
Wall A/C Unit(s) Cooling
Building Details
Year Built
Listing Agency:
COLDWELL BANKER REALTY RDG
(201) 445-9400
Listed By:
MARIANA ZUNIGA
(201) 723-6886
Source:
Corcoran
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 25 at 5:06AM
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
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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.
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 / Yr
$32,999
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 26%
Home Improvements & Furnishings 2%
Dollar Tree
Shops & Services
17,831 visits/mo
0.3 miles
Dunkin' Donuts
Dining
14,244 visits/mo
0.4 miles
7-Eleven
Shops & Services
8,025 visits/mo
0.4 miles
Dollar General
Shops & Services
7,575 visits/mo
0.4 miles
PNC Bank
Shops & Services
5,543 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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.
