Mixed-Use Retail and Residential
For Sale
$999,000
604 Van Houten Ave, Clifton, NJ 07013
Fully leased building with ground-floor barbershop and three upstairs residential apartments plus four dedicated parking spaces.
Property Size2,932 SF
Price / SF$340.72
Days on Market57
Property Features for 604 Van Houten Ave
General Information
Standard status
Active
Size
2,932 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
B-C
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,787
Amenities
Central air
4+ Units Cooling
Assigned
Central Air Cooling
Flat Roof
Forced Hot Air Heating
Building Details
Year Built
1909
Tenancy
Multi
Listing Agency:
DWELL REALTY
(973) 542-8333
Listed By:
MIRIAM LEBOVITS
Source:
Corcoran
Added: Jun 16
Changed: Aug 10
Last Checked: Aug 10 at 4:50AM
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 DWELL REALTY
Investment Insights
Based on property information with market context.
This fully leased mixed-use building combines ground-floor retail with residential living above. The ground level is occupied by a barbershop, and the upper levels feature three fully leased apartments. The property is described as well maintained and presents a turnkey setup for an owner looking to acquire an income-generating commercial and residential asset.
The building is located at 604 Van Houten Ave in Clifton, NJ, within the B-C zoning district. Four dedicated parking spaces are included and are accessible via easement, supporting both retail and residential tenant needs. The property is also positioned for convenience to major transportation routes and nearby shopping and dining.
For prospective buyers, this configuration offers a built-in tenant mix through a retail use on the street level and separate apartment units overhead, all under existing leases. The B-C zoning provides a framework for continued operation of the existing mixed-use setup. With parking included via easement and the property currently fully leased, the building may appeal to investors and owner-operators seeking straightforward management of a combined retail and residential property.
The building is located at 604 Van Houten Ave in Clifton, NJ, within the B-C zoning district. Four dedicated parking spaces are included and are accessible via easement, supporting both retail and residential tenant needs. The property is also positioned for convenience to major transportation routes and nearby shopping and dining.
For prospective buyers, this configuration offers a built-in tenant mix through a retail use on the street level and separate apartment units overhead, all under existing leases. The B-C zoning provides a framework for continued operation of the existing mixed-use setup. With parking included via easement and the property currently fully leased, the building may appeal to investors and owner-operators seeking straightforward management of a combined retail and residential property.
Key Highlights
- Year built 1909 fully leased mixed‑use building
- Ground‑floor retail includes a fully leased barbershop
- Upper levels feature three fully leased residential apartments
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
$49,070
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
4.91%
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%
$981,400
$981.4K
Cap Rate 7%
$701,000
$701.0K
Cap Rate 9%
$545,222
$545.2K
Market Conditions
NOI Build-Up for 2,932 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
$74.9K $25.56/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$70.1K $23.91/SF
− OpEx
−$21.0K −$7.17/SF
NOI
$49.1K $16.74/SF
Area
Passaic 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%
$981,400
Cap Rate 7%
$701,000
Cap Rate 9%
$545,222
Alternative Uses
Best Use
Multifamily LT 5
$701.0K
$613.4K – $817.8K
NOI $49,070 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$644.1K
$563.6K – $751.5K
NOI $45,088 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$765.6K
$669.9K – $893.2K
NOI $53,592 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,849
Businesses Nearby
Explore this area
Business Placement
Demographics for 07013, NJ
28,843
Population
12,005
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
91%
High-School Grad
4.4 sq mi
ZIP Area
6,555
Density / Sq Mi
$119,291
Median Household Income
$59,413
Median Earnings
$1,696
Median Rent
$462,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased building with ground-floor barbershop and three upstairs residential apartments plus four dedicated parking spaces.
Where is this triplex located?
The property is located at 604 Van Houten Ave Clifton, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Year built 1909 fully leased mixed‑use building; Ground‑floor retail includes a fully leased barbershop; Upper levels feature three fully leased residential apartments
