301 Winans Ave, Unit 3 Hillside, NJ 07205-1405
- Commercial real estate
- 0.09 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 301 Winans Ave
- Year built
- 1904
- Construction
- BRICK
- Lot size
- 0.09 lot acres
- Zone code
- R40T
- Property type
- Commercial real estate
- APN
- 07 00402-0000-00007
- APU
- 700402000000007
Description
This exceptional mixed-use property in Hillside, New Jersey, presents a lucrative investment opportunity. Located at 301-303 Winans Avenue, this two-story building boasts 4,000 square feet on a 4,000 square foot lot and comprises four thriving retail/restaurant spaces and two three-bedroom, one-bathroom apartments. Currently generating a Net Operating Income (NOI) of $124,000 with an occupancy rate of 80% (as of September 30, 2024), this property offers a compelling 9.92% cap rate. The asking price is $1,250,000, translating to $312.50 per square foot. Current rental income totals $12,000 per month, with potential for significant increases to $16,000-$18,000 monthly through strategic upgrades and lease adjustments. The current tenant mix includes a beauty salon ($1,500/month), a coffee shop ($1,800/month), a restaurant ($3,200/month), and a smoke shop ($2,000/month). Annual property taxes are $14,000, and insurance costs $5,500 annually. The property's strategic location at a busy intersection with easy access to Route 78 ensures high visibility and convenient access. This is a rare chance to acquire a well-positioned mixed-use asset with substantial upside potential. The property is offered for sale by owner.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $355,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Hillside
- County
- Union
- State
- New Jersey
- Longitude
- -74.2252
- Latitude
- 40.706
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
