Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    404 Central Ave East Orange, NJ 07018

    Sponsored
    For Sale
    $1,750,000

    Mixed-use, high-traffic location, 12 units.

    Property size:
    10,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional redevelopment opportunity in East Orange, NJ, presents a unique chance to acquire two adjacent lots (0.39 acres total, APN: 05-00510-0000-00030, 05-00510-0000-00029) encompassing a 10,000-60,000 square foot mixed-use property at 404 Central Ave, 07018. Currently featuring a 70% occupied, 12-unit multifamily building with retail space, this property is zoned CAE/CAC (Central Ave Commercial District) and offers significant upside potential. The asking price is $1,750,000, with a current cap rate of 8.90% and a pro-forma cap rate of 10.23%, yielding a pro-forma NOI of $178,958. A zoning analysis suggests the potential for a five to seven-story mixed-use building (up to 48,000 square feet), incorporating retail and parking on the ground floor and approximately 39 residential units with amenities on upper floors. The existing structure was built in 1930. This high-foot-traffic commercial business district location presents a compelling investment opportunity for those seeking to capitalize on the area's growth. The property is owned by a corporation and is ideal for a larger asset commercial or mixed-use redevelopment project. Architectural plans suggest 30 parking spaces, sufficient for the proposed residential units (13 spaces for 1-bedroom units and 14 spaces for 2-bedroom units). The lots are available for sale together or separately.

    Property Features for 404 Central Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    10,000 SF
    Lot Size
    16,988 SF

    Building Details

    Year Built
    1930
    Units
    12

    HighLights

    • $1,750,000 asking price for a mixed‑use redevelopment opportunity in East Orange, NJ.
    • 10,000 - 60,000 square foot site with a potential 8.90% cap rate and a pro‑forma cap rate of 10.23%.
    • Currently 70% occupied, with a pro‑forma NOI of $178,958.
    • 12 units, including retail and residential space, in a 1930 building on a 0.39‑acre lot.
    • Located in the CAE/CAC Central Ave Commercial District, with high foot traffic.
    Property Profile Location Intelligence

    Current Use by Public Records

    House of David Club Church

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.21822825
    Latitude
    40.75708234

    Nearby Similar for Sale

    • $785,000
      3,326 SF

      East Orange Multi-Unit Opportunity

      Two homes on one lot, great income potential!
      312 Rhode Island Ave, East Orange, NJ 07018
      View Details
    • $849,000
      0.17 Acres

      East Orange Multi-Family Home

      Two-family home on corner lot near park and transportation.
      99 Rhode Island Ave, East Orange, NJ 07018
      View Details
    • $4,799,000
      24,000 SF

      East Orange Commercial Investment Opportunity

      Fully occupied commercial building with long-term tenants and income potential.
      110 S Grove St, East Orange, NJ 07018
      View Details
    • $670,000
      0.11 Acres

      Three-Story Multifamily Property

      Three-story multifamily property in good condition with cash flow potential.
      253 S Burnett St, East Orange, NJ 07018
      View Details
    • $819,000
      3,000 SF

      New Multi-Family Residence Near NYC

      New 2-family residence near train station with modern amenities.
      139 N 15Th St, East Orange, NJ 07017
      View Details
    • $450,000
      Pending

      Multi-Family in East Orange City

      Three-story multi-family property with renovation potential in East Orange City.
      132 S Munn Ave, East Orange, NJ 07018
      View Details
    • $900,000
      Pending

      Well-Maintained Four-Family Property

      Four-unit property with strong rental income potential in East Orange.
      277 S Clinton St, East Orange, NJ 07018
      View Details
    • New
      $1,500,000
      0.13 Acres

      Turn-Key Lounge and Bar

      East Orange lounge/bar with apartments, near train to NYC.
      428 Central Ave, East Orange, NJ 07018
      View Details
    • $749,000
      Pending

      Renovated Multi-Family Home

      Spacious, renovated multi-family home with ample parking and convenient location.
      171 S Burnett St, East Orange, NJ 07018
      View Details
    • New
      $690,000
      Pending

      Two-Family Home with Development Potential

      Two-family home with finished basement, four-car garage, and vacant lot.
      89 Tremont Ave, East Orange, NJ 07018
      View Details
    • $723,000
      Pending

      Renovated Three-Unit Multifamily Property

      Turnkey three-unit property in East Orange City, NJ.
      110 N 17Th St, East Orange, NJ 07017
      View Details
    • $749,999
      0.09 Acres

      Renovated Multi-Family Home, East Orange

      Turnkey 9-bedroom property near amenities and transportation.
      15 Winthrop Ter, East Orange, NJ 07018
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Mixed-use, high-traffic location, 12 units.
    Where is this individual retail property located?
    The property is located at 404 Central Ave East Orange, NJ.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: $1,750,000 asking price for a mixed-use redevelopment opportunity in East Orange, NJ.; 10,000 - 60,000 square foot site with a potential 8.90% cap rate and a pro-forma cap rate of 10.23%.; Currently 70% occupied, with a pro-forma NOI of $178,958.
    Request Owner's contact information
    404 Central Ave East Orange, NJ 07018
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    404 Central Ave
    East Orange, NJ 07018
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    404 Central Ave East Orange, NJ 07018
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.