Renovated Mixed-Use
For Sale
$950,000
580 Scotland Rd #9999, Orange, NJ 07050
Commercially zoned property combines a beauty salon, Caribbean restaurant, and two residential units.
Property Size3,890 SF
Days on Market401
Property Features for 580 Scotland Rd #9999
General Information
Standard status
Active
Size
3,890 SF
Total Parking Spaces
3
Property subtype
Commercial
Zoning
commercial
Building Details
Building Size
3,890 SF
Year Built
1927
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Global Realty Resource
(888) 582-2232
Listed By:
Barrington Palmer · License #276079
(888) 582-2232
Source:
Betterhomerealestate
Added: Jul 25, 2025
Changed: Aug 28
Last Checked: Aug 28 at 7:48AM
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 Global Realty Resource
Investment Insights
Based on property information with market context.
Located at 580 Scotland Rd in City Of Orange, this mixed-use property was built in 1927 and has been renovated and updated. The commercial component includes a beauty salon and a Caribbean restaurant, while the residential portion provides one 2-bedroom, 1-bath unit and one 3-bedroom, 1-bath unit.
The property carries commercial zoning and is being offered in as-is condition. Buyers are responsible for completing all municipal inspections. The combination of commercial operations and residential accommodations creates a varied existing configuration within one property.
The property carries commercial zoning and is being offered in as-is condition. Buyers are responsible for completing all municipal inspections. The combination of commercial operations and residential accommodations creates a varied existing configuration within one property.
Key Highlights
- Renovated and updated mixed‑use property built in 1927
- Beauty salon and Caribbean restaurant included
- 2‑bedroom, 1‑bath residential unit
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
$65,104
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
6.85%
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%
$1,302,080
$1.3M
Cap Rate 7%
$930,057
$930.1K
Cap Rate 9%
$723,378
$723.4K
Market Conditions
NOI Build-Up for 3,890 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
$99.4K $25.56/SF
− Vacancy
−$6.4K −$1.65/SF
EGI
$93.0K $23.91/SF
− OpEx
−$27.9K −$7.17/SF
NOI
$65.1K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$1,302,080
Cap Rate 7%
$930,057
Cap Rate 9%
$723,378
Alternative Uses
Best Use
Multifamily LT 5
$930.1K
$813.8K – $1.09M
NOI $65,104 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$854.6K
$747.8K – $997.0K
NOI $59,820 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$1.02M
$888.8K – $1.19M
NOI $71,103 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Explore this area
Business Placement
Demographics for 07050, NJ
34,315
Population
13,412
Households
2.6
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
2.2 sq mi
ZIP Area
15,598
Density / Sq Mi
$53,109
Median Household Income
$38,587
Median Earnings
$1,427
Median Rent
$336,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned property combines a beauty salon, Caribbean restaurant, and two residential units.
Where is this mixed-use property located?
The property is located at 580 Scotland Rd #9999 Orange, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Renovated and updated mixed‑use property built in 1927; Beauty salon and Caribbean restaurant included; 2‑bedroom, 1‑bath residential unit
