Building Details

Year Built 1986

Listing Agency: JUBA TEAM REALTY t***@gmail.com Show Phone

Listed By: NICOLAUS JUBA

Source: Corcoran

Added: Aug 13 Changed: Aug 20 Last Checked: Aug 21 at 7:38AM

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Investment Insights

Based on property information with market context.

Constructed in 1986, this mixed-use property contains 10,000 square feet across two levels. The lower floor is configured with four commercial units, while the upper floor includes eight residential units, creating a combined commercial and multifamily layout within one building. All twelve units are currently occupied.

The property is located at 7 Oak Ridge Rd in West Milford Township, New Jersey, with convenient proximity to Route 23. Its combination of commercial and residential occupancy provides a straightforward mixed-use configuration for an owner or operator seeking both components in a single asset.

Key Highlights

• 10,000‑square‑foot mixed‑use property built in 1986
• Four commercial units occupy the lower level
• Eight residential units are located upstairs

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

$153,780

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

8.54%

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%

$3,075,600 $3.1M

Cap Rate 7%

$2,196,857 $2.2M

Cap Rate 9%

$1,708,667 $1.7M

Market Conditions

NOI Build-Up for 10,000 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

$300.0K $30.00/SF

− Vacancy

−$20.4K −$2.04/SF

EGI

$279.6K $27.96/SF

− OpEx

−$125.8K −$12.58/SF

NOI

$153.8K $15.38/SF

Area

Passaic County, NJ

Vacancy

6.80%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

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%

$3,075,600

Cap Rate 7%

$2,196,857

Cap Rate 9%

$1,708,667

Alternative Uses

Best Use

Apartment 5plus

$2.20M

$1.92M – $2.56M (±1% cap)

NOI $153,780 @ 7.0% cap · market cap 8.54%

Second Best

Mixed Use

$1.77M

$1.55M – $2.07M (±1% cap)

NOI $124,200 @ 7.0% cap · market cap 6.90%

Theoretical Best

Office A

$2.61M

$2.28M – $3.05M (±1% cap)

NOI $182,784 @ 7.0% cap · market cap 10.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mixed-use properties

Suggested Use

Top Pick Parking Lot & Garage Building Supply Auto Repair Shop Plumbing Service Daycare Center Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

100%

Occupancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

15

Businesses Nearby

Explore this area Business Placement

Demographics for 07435, NJ

2,188

Population

1,353

Households

1.6

Avg Household Size

49

Median Age

38%

College-Educated

100%

High-School Grad

12.6 sq mi

ZIP Area

174

Density / Sq Mi

$143,191

Median Household Income

$59,881

Median Earnings

$2,091

Median Rent

$465,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Two-level property combines commercial space below with occupied residential units above.

Where is this mixed-use property located?

The property is located at 7 Oak Ridge Rd Newfoundland, NJ.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: 10,000‑square‑foot mixed‑use property built in 1986; Four commercial units occupy the lower level; Eight residential units are located upstairs