Building Details

Year Built 1986

Listing Agency: JUBA TEAM REALTY

Listed By: NICOLAUS JUBA, JUSTIN JUBA Show Phone

Source: Luminancerealty

Added: Aug 15 Changed: Sep 4 Last Checked: Oct 5 at 10:10PM

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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 / Yr

$153,780

Cap Rate

8.54%

Suggested Prices Based on Cap Rates

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

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 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

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Current Use

Mixed-use properties

Suggested Use

Top Pick Electrical Service HVAC Service Auto Parts Store Big Box & Wholesale Store Bakery Real Estate Agency

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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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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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