Oversized Lot Residential Income
For Sale
$1,399,000
822 Pompton Ave Unit 2, Cedar Grove, NJ 07009
Residential income property on an oversized, deep lot that may allow professional use or townhome development with town approval.
Property Size3,356 SF
Lot Size276.00 Acres
Price / SF$416.87
Days on Market135
Property Features for 822 Pompton Ave Unit 2
General Information
Standard status
Active
Size
3,356 SF
Lot size
276.00 Acres
Property subtype
Multi-Family
Building Details
Year Built
1977
Listing Agency:
WAYNE HILLS REALTY
Listed By:
JOSEPH MASTROPOLE · License #274283
(973) 790-9200
Source:
Luminancerealty
Added: Jun 23
Changed: Oct 25
Last Checked: Oct 5 at 9:27PM
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 WAYNE HILLS REALTY
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Investment Insights
Based on property information with market context.
This for-sale residential income property offers a larger, oversized deep lot measuring approximately 276 feet, creating flexibility for future plans. The offering is positioned as an income-producing residential asset, while also presenting a pathway to consider a zoning change subject to town approval.
The property is located at 822 Pompton Ave in Cedar Grove Township, NJ. Public remarks indicate consideration of a zoning change for professional use or townhouses, contingent on approval by the town.
For buyers or operators looking for a residential income asset with potential optionality, the depth of the lot may support alternative development directions if the zoning change is granted. Any change to professional use or conversion to townhouses would require town approval, and interested parties should confirm the feasibility and requirements with the municipality. In the meantime, the property functions as a residential income offering based on the information provided.
The property is located at 822 Pompton Ave in Cedar Grove Township, NJ. Public remarks indicate consideration of a zoning change for professional use or townhouses, contingent on approval by the town.
For buyers or operators looking for a residential income asset with potential optionality, the depth of the lot may support alternative development directions if the zoning change is granted. Any change to professional use or conversion to townhouses would require town approval, and interested parties should confirm the feasibility and requirements with the municipality. In the meantime, the property functions as a residential income offering based on the information provided.
Key Highlights
- Year built: 1977
- Oversized deep 276 ft lot
- With town approval, zoning change may allow professional use or townhouses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,609
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,032,180
$1.0M
Cap Rate 7%
$737,271
$737.3K
Cap Rate 9%
$573,433
$573.4K
Market Conditions
NOI Build-Up for 3,356 SF
Gross rent
$100.7K $30.00/SF
− Vacancy
−$6.8K −$2.04/SF
EGI
$93.8K $27.96/SF
− OpEx
−$42.2K −$12.58/SF
NOI
$51.6K $15.38/SF
Area
Essex 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%
$1,032,180
Cap Rate 7%
$737,271
Cap Rate 9%
$573,433
Alternative Uses
Best Use
Apartment 5plus
$737.3K
$645.1K – $860.2K
NOI $51,609 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$876.3K
$766.8K – $1.02M
NOI $61,342 @ 7.0% cap · market cap 4.38%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
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Business Placement
Demographics for 07009, NJ
13,014
Population
5,107
Households
2.5
Avg Household Size
46
Median Age
58%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
3,099
Density / Sq Mi
$153,654
Median Household Income
$84,065
Median Earnings
$1,693
Median Rent
$600,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income property on an oversized, deep lot that may allow professional use or townhome development with town approval.
Where is this residential income property located?
The property is located at 822 Pompton Ave Unit 2 Cedar Grove, NJ.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Year built: 1977; Oversized deep 276 ft lot; With town approval, zoning change may allow professional use or townhouses
