Mixed-Use Investment
976 Main Ave Passaic, NJ 07055
976 Main Ave, Passaic, NJ, 07055
$949,999
For Sale
$949,999
Turn-key, renovated mixed-use property with income-producing units and potential.
Property Size3,223 SF
Lot Size0.07 Acres
Price / SF$294.76
Days on Market271
Property Features for 976 Main Ave
General Information
- Standard status
- Active
- Size
- 3,223 SF
- Lot size
- 0.07 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1947
Listing Agency
WEICHERT REALTORS
(973) 746-1515
Listed by
LUZ E. RUIZ
Source
Corcoran
Added: Oct 20, 2025 Checked: Jul 16 at 4:45 am
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 WEICHERT REALTORS
Investment Insights
Based on property information with market context.
This mixed-use property presents an investment opportunity, suitable for both first-time homebuyers and experienced investors. The building features four income-producing units, complemented by additional billboard income. The first floor includes approximately 1,100 sq. ft. of office space, equipped with multiple rooms and amenities, alongside a renovated studio apartment. The second floor houses a modern one-bedroom apartment and a spacious two-bedroom apartment. The property is situated on Main Avenue, offering convenient access to nearby shops, restaurants, and transportation. An unused rear lot provides potential for extension or parking. This property allows for living, working, and investing.
Key Highlights
- Four income‑producing units plus billboard income
- Nearly fully renovated property
- Mixed‑use property ideal for living, working, and investing
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.7k | $30.00 |
| − Vacancy | −$6.6k | −$2.04 |
| EGI | $90.1k | $27.96 |
| − OpEx | −$40.6k | −$12.58 |
| NOI | $49.6k | $15.38 |
3,223 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$708.0K
$619.5K – $826.1K
NOI $49,563 @ 7.0% cap · market cap 5.22%
Second Best
Office B
$704.5K
$616.4K – $821.9K
NOI $49,312 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$841.6K
$736.4K – $981.9K
NOI $58,911 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Turn-key, renovated mixed-use property with income-producing units and potential.
Where is this mixed-use property located?
The property is located at 976 Main Ave Passaic, NJ.
What is the asking price?
The asking price for this property is $949,999.
What are key features of this property?
This property features: Four income‑producing units plus billboard income; **Nearly fully renovated property**; Mixed‑use property ideal for living, working, and investing
