Auto Shop
For Sale
Contact for pricing
Pending
74 W WESTFIELD AVE, Roselle Park, NJ 07204
For sale at 74 Westfield Ave W in Roselle Park, NJ, offered by Marcus & Millichap.
Property Size10,974 SF
Days on Market131
Property Features for 74 W WESTFIELD AVE
General Information
Standard status
Pending
Size
10,974 SF
Total Parking Spaces
28
Property subtype
Retail
Investment Type
Net Lease
Building Details
Year Built
1950
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - New Jersey
Listed By:
Alan Cafiero · License #NJ 0791092
(201) 742-6118
Source:
Crexi
Added: Apr 28
Changed: Aug 8
Last Checked: Jul 24 at 6:48PM
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 Marcus & Millichap - New Jersey
Investment Insights
Based on property information with market context.
Marcus & Millichap is pleased to exclusively present 74 Westfield Avenue W, a for-sale commercial property in Roselle Park, New Jersey. The offering includes a property size of 10,974 square feet.
The property is positioned as an automotive-oriented retail/commercial asset, aligning with the listed property types of auto shops and automotive properties. As presented, the asset is available for purchase.
Interested buyers and tenant/broker prospects should review the full offering details for information on the existing configuration, use, and any applicable operational considerations tied to the property’s automotive retail function.
The property is positioned as an automotive-oriented retail/commercial asset, aligning with the listed property types of auto shops and automotive properties. As presented, the asset is available for purchase.
Interested buyers and tenant/broker prospects should review the full offering details for information on the existing configuration, use, and any applicable operational considerations tied to the property’s automotive retail function.
Key Highlights
- Year built: 1950
- For sale: 74 Westfield Ave W, Roselle Park, NJ (Union County)
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
$156,635
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
4.22%
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%
$3,132,700
$3.1M
Cap Rate 7%
$2,237,643
$2.2M
Cap Rate 9%
$1,740,389
$1.7M
Market Conditions
NOI Build-Up for 10,974 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
$237.0K $21.60/SF
− Vacancy
−$13.3K −$1.21/SF
EGI
$223.8K $20.39/SF
− OpEx
−$67.1K −$6.12/SF
NOI
$156.6K $14.27/SF
Area
Union County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /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%
$3,132,700
Cap Rate 7%
$2,237,643
Cap Rate 9%
$1,740,389
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.61M
NOI $156,635 @ 7.0% cap · market cap 4.22%
Second Best
Industrial
$1.76M
$1.54M – $2.05M
NOI $123,175 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$2.87M
$2.51M – $3.34M
NOI $200,587 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,160
Businesses Nearby
139k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 41%
Electronics 2%
McDonald's
Dining
33,421 visits/mo
0.1 miles
Wendy's
Dining
23,826 visits/mo
0.2 miles
Dollar Tree
Shops & Services
19,289 visits/mo
0.4 miles
Dunkin' Donuts
Dining
11,017 visits/mo
0.2 miles
Bank of America
Shops & Services
9,451 visits/mo
0.4 miles
Demographics for 07204, NJ
13,984
Population
5,373
Households
2.6
Avg Household Size
39
Median Age
39%
College-Educated
91%
High-School Grad
1.2 sq mi
ZIP Area
11,653
Density / Sq Mi
$104,418
Median Household Income
$55,974
Median Earnings
$1,585
Median Rent
$405,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - For sale at 74 Westfield Ave W in Roselle Park, NJ, offered by Marcus & Millichap.
Where is this auto shop located?
The property is located at 74 W WESTFIELD AVE Roselle Park, NJ.
What is the asking price?
The asking price for this property is $3,710,000.
What are key features of this property?
This property features: Year built: 1950; For sale: 74 Westfield Ave W, Roselle Park, NJ (Union County)
