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Mixed-Use Property with Rental Income

629 Franklin Ave Nutley Twp., Nutley, NJ 07110

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For Sale

$995,000

Mixed-use property featuring commercial space and two residential units.

Type:Commercial

Property size:

3,720 SF

Price / SF:

$267/SF

Listing Contact

LAUREN JOHNSON

HighLights

Mixed‑use property with commercial space and two residential units offers diverse income potential.
Prime location in town with B‑1 zoning allows for a variety of business opportunities.
First floor commercial space previously used as a dental practice with included equipment option.
Two residential units on the second floor provide immediate rental income.
Ample parking available with an exclusive driveway.
Apartment A is a multi‑floor unit with 2 bedrooms and generous closet space.

For Sale

$995,000

Mixed-use property featuring commercial space and two residential units.

Type:Commercial

Property size:

3,720 SF

Price / SF:

$267/SF

Added:: May 24, 2025
Days on Market:: 384
Last Refresh:: May 11 at 1:28 am

Property Features for 629 Franklin Ave Nutley Twp.

General Information

Standard status: Active
Size: 3,720 SF
Property subtype: Commercial

Building Details

Year Built: 1920

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Listing Contact

LAUREN JOHNSON

Listing agent LAUREN JOHNSON

Listing office REALTY EXECUTIVES EXCEPTIONAL

Listing date May 24, 2025

Source Corcoran

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 REALTY EXECUTIVES EXCEPTIONAL

HighLights

Mixed‑use property with commercial space and two residential units offers diverse income potential.
Prime location in town with B‑1 zoning allows for a variety of business opportunities.
First floor commercial space previously used as a dental practice with included equipment option.
Two residential units on the second floor provide immediate rental income.
Ample parking available with an exclusive driveway.
Apartment A is a multi‑floor unit with 2 bedrooms and generous closet space.

Overview

This mixed-use property offers a commercial space on the first floor, previously configured as a dental practice, and two residential rental units on the second floor. The first floor includes an entrance vestibule, waiting area, front desk area, six patient rooms, a private office with a half bath, a lab, two additional half baths, and a kitchen area, along with closet and storage space. The basement is also used for storage. The second floor contains two residential apartments with month-to-month leases. Apartment A is a multi-floor unit with two bedrooms and one bath, featuring sizable rooms and closet space. Apartment B is a one-bedroom, one-bath unit with a side entrance. The property is zoned B-1, allowing for a variety of opportunities. An exclusive driveway provides ample parking. The property size is 3720 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$111.6k	$30.00
− Vacancy	−$7.6k	−$2.04
EGI	$104.0k	$27.96
− OpEx	−$46.8k	−$12.58
NOI	$57.2k	$15.38

3,720 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$817.2K

$715.1K – $953.4K (±1% cap)

NOI $57,206 @ 7.0% cap · market cap 5.75%

Second Best

Office B

$813.1K

$711.5K – $948.6K (±1% cap)

NOI $56,916 @ 7.0% cap · market cap 5.72%

Theoretical Best

Office A

$971.4K

$850.0K – $1.13M (±1% cap)

NOI $67,996 @ 7.0% cap · market cap 6.83%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Todd L. Jolly, ... Dental Office

Suggested Use

Location Insight

Map
Local Demand

City: Nutley
County: Essex
State: New Jersey
Longitude: -74.1515
Latitude: 40.8266

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For sale
Mixed-use properties
NJ
Nutley
07110
629 Franklin Ave

What type of property is this?

Mixed-use property - Mixed-use property featuring commercial space and two residential units.

Where is this mixed-use property located?

The property is located at 629 Franklin Ave Nutley Twp. Nutley, NJ.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: Mixed‑use property with commercial space and two residential units offers diverse income potential.; Prime location in town with B‑1 zoning allows for a variety of business opportunities.; First floor commercial space previously used as a dental practice with included equipment option.