Hand Car Wash with Office
For Sale
$395,000
57 8TH AVE, Passaic, NJ 07055
A hand car wash property with open and private offices plus a basement with three bathrooms.
Property Size2,940 SF
Price / SF$134.35
Days on Market311
Property Features for 57 8TH AVE
General Information
Standard status
Active
Size
2,940 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,276
Amenities
Window Air Conditioning
3
Parquet, Concrete
Fire Alarm
Flat
R-3
No Parking.
43X50, 43X50
Storage Area. Central Business District.
Building Details
Year Built
1980
Listing Agency:
COLDWELL BANKER REALTY
(201) 445-9400
Listed By:
MARIANA ZUNIGA
Source:
Xome
Added: Oct 3, 2025
Changed: Aug 8
Last Checked: Aug 9 at 5:14AM
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
Investment Insights
Based on property information with market context.
This property combines a hand car wash setup with office space, including both an open office area and private offices designed for day-to-day operations. A spacious basement is included with three bathrooms, supporting business needs beyond the main workspace. The building also features a shared rear entrance, providing an additional access point for staff and visitors.
Located on 8th Ave in Passaic, the property is described as having plenty of nearby parking and convenient access to downtown, highways, and public transit. This mix of access options can support businesses that rely on customer visits as well as regular contractor or staff traffic.
From a tenant or buyer standpoint, the layout suits an owner-operator or an operator needing both a service component and dedicated work areas. The inclusion of private offices alongside an open office area can accommodate administrative functions, while the basement and three bathrooms help support larger operational requirements. The arrangement also offers practical separation between the rear access and the primary work areas, helping streamline daily use.
Located on 8th Ave in Passaic, the property is described as having plenty of nearby parking and convenient access to downtown, highways, and public transit. This mix of access options can support businesses that rely on customer visits as well as regular contractor or staff traffic.
From a tenant or buyer standpoint, the layout suits an owner-operator or an operator needing both a service component and dedicated work areas. The inclusion of private offices alongside an open office area can accommodate administrative functions, while the basement and three bathrooms help support larger operational requirements. The arrangement also offers practical separation between the rear access and the primary work areas, helping streamline daily use.
Key Highlights
- Hand car wash property with open office space and private offices
- Basement includes 3 bathrooms and offers additional space
- Central Business District location with shared rear entrance for access
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
Office B
$642.6K
$562.3K – $749.7K
NOI $44,982 @ 7.0% cap · market cap 11.39%
Second Best
Specialty Retail
$642.3K
$562.0K – $749.4K
NOI $44,961 @ 7.0% cap · market cap 11.38%
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
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Car wash - A hand car wash property with open and private offices plus a basement with three bathrooms.
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: Hand car wash property with open office space and private offices; Basement includes 3 bathrooms and offers additional space; Central Business District location with shared rear entrance for access
