Mixed-Use Building with Loft
New
For Sale
$3,900,000
97 Baker St 999, Maplewood, NJ 07040
Downtown mixed-use property combines commercial suites with loft-style residential units near NJ Transit.
Property Size12,000 SF
Price / SF$325
Days on Market4
Property Features for 97 Baker St 999
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial Listing
Zoning
RB
Net Operating Income
$221,793
Building Details
Year Built
1932
Stories
2
Units
8
Tenancy
Multi
Listing Agency:
COMPASS NEW JERSEY, LLC
Listed By:
Peter DeCicco
(973) 420-4401
Source:
Thedeciccogroup.idxbroker
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 3:49AM
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 COMPASS NEW JERSEY, LLC
Investment Insights
Based on property information with market context.
Located at 97 Baker St in Maplewood, this 1932 mixed-use property contains approximately 12,000 square feet across commercial and residential components. The commercial portion encompasses approximately 6,500 square feet arranged among five separate spaces, while three loft-style residential units provide approximately 5,500 square feet of additional area. The property is zoned RB.
The building is positioned near the NJ Transit train station and within Maplewood’s downtown Village. More than 15 restaurants and cafes, along with boutiques and professional services, are located nearby. Memorial Park is also in the surrounding Village setting, and Manhattan is less than 45 minutes away.
The building is positioned near the NJ Transit train station and within Maplewood’s downtown Village. More than 15 restaurants and cafes, along with boutiques and professional services, are located nearby. Memorial Park is also in the surrounding Village setting, and Manhattan is less than 45 minutes away.
Key Highlights
- Approximately 12,000 square feet across commercial and residential uses
- Five commercial spaces totaling approximately 6,500 square feet
- Three loft‑style residential units totaling approximately 5,500 square feet
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
$184,536
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
4.73%
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%
$3,690,720
$3.7M
Cap Rate 7%
$2,636,229
$2.6M
Cap Rate 9%
$2,050,400
$2.1M
Market Conditions
NOI Build-Up for 12,000 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
$360.0K $30.00/SF
− Vacancy
−$24.5K −$2.04/SF
EGI
$335.5K $27.96/SF
− OpEx
−$151.0K −$12.58/SF
NOI
$184.5K $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 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%
$3,690,720
Cap Rate 7%
$2,636,229
Cap Rate 9%
$2,050,400
Alternative Uses
Best Use
Apartment 5plus
$2.64M
$2.31M – $3.08M
NOI $184,536 @ 7.0% cap · market cap 4.73%
Second Best
Retail
$2.45M
$2.14M – $2.85M
NOI $171,279 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$3.13M
$2.74M – $3.66M
NOI $219,341 @ 7.0% cap · market cap 5.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Starbucks
Dining
13,940 visits/mo
0.1 miles
Demographics for 07040, NJ
25,684
Population
8,981
Households
2.9
Avg Household Size
39
Median Age
69%
College-Educated
96%
High-School Grad
3.9 sq mi
ZIP Area
6,586
Density / Sq Mi
$167,428
Median Household Income
$72,475
Median Earnings
$2,184
Median Rent
$684,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown mixed-use property combines commercial suites with loft-style residential units near NJ Transit.
Where is this mixed-use property located?
The property is located at 97 Baker St 999 Maplewood, NJ.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Approximately 12,000 square feet across commercial and residential uses; Five commercial spaces totaling approximately 6,500 square feet; Three loft‑style residential units totaling approximately 5,500 square feet
