Mixed-Use Building with
976 Main Ave, Passaic, NJ 07055
For Sale
$1,049,999
Four income-producing spaces combine office use, residential units, and billboard revenue in one property.
Property Size3,223 SF
Price / SF$325.78
Days on Market50
Property Features for 976 Main Ave
General Information
Standard status
Size
Property subtype
Site & Location
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Central air
1 Unit Cooling
4+ Units Heating
Central Air Cooling
Flat Roof
On-Street Parking
Wall A/C Unit(s) Cooling
Building Details
Year Built
Listing Agency:
WEICHERT REALTORS
(973) 746-1515
Listed By:
LUZ E. RUIZ
(646) 294-2931
Source:
Corcoran
Added: Sep 21
Changed: Nov 8
Last Checked: Nov 8 at 6:10AM
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
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Investment Insights
Based on property information with market context.
Built in 1947, this mixed-use property contains four income-producing spaces: approximately 1,100 square feet of office space, a studio apartment, a one-bedroom apartment, and a two-bedroom apartment. The office area is divided into multiple rooms. The two-bedroom unit is available for owner-directed improvements, while the other spaces are described as renovated or updated.
The property is on Main Avenue in Passaic City, near shopping, dining, public transportation, and everyday services. An on-site billboard provides an additional revenue source; its agreement includes roof maintenance and repair provisions. An unused rear lot is also part of the property.
The property is on Main Avenue in Passaic City, near shopping, dining, public transportation, and everyday services. An on-site billboard provides an additional revenue source; its agreement includes roof maintenance and repair provisions. An unused rear lot is also part of the property.
Key Highlights
- Four income‑producing spaces: office, studio, one‑bedroom, and two‑bedroom units
- Approximately 1,100 square feet of office space with multiple rooms
- On‑site billboard agreement includes roof maintenance and repair provisions
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,563
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$991,260
$991.3K
Cap Rate 7%
$708,043
$708.0K
Cap Rate 9%
$550,700
$550.7K
Market Conditions
NOI Build-Up for 3,223 SF
Gross rent
$96.7K $30.00/SF
− Vacancy
−$6.6K −$2.04/SF
EGI
$90.1K $27.96/SF
− OpEx
−$40.6K −$12.58/SF
NOI
$49.6K $15.38/SF
Area
Passaic 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%
$991,260
Cap Rate 7%
$708,043
Cap Rate 9%
$550,700
Alternative Uses
Best Use
Apartment 5plus
$708.0K
$619.5K – $826.1K
NOI $49,563 @ 7.0% cap · market cap 4.72%
Second Best
Mixed Use
$571.9K
$500.4K – $667.2K
NOI $40,030 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$841.6K
$736.4K – $981.9K
NOI $58,911 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,562
Businesses Nearby
Explore this area
Business Placement
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Passaic County, NJ
Properties on Market for Mixed-use properties in Passaic County
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four income-producing spaces combine office use, residential units, and billboard revenue in one property.
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 $1,049,999.
What are key features of this property?
This property features: Four income‑producing spaces: office, studio, one‑bedroom, and two‑bedroom units; Approximately 1,100 square feet of office space with multiple rooms; On‑site billboard agreement includes roof maintenance and repair provisions
