One-Story Retail
For Sale
$395,000
Broad St, Bloomfield, NJ 07003
One-story retail building offering flexible commercial space with visibility to foot and vehicle traffic.
Property Size1,250 SF
Price / SF$316
Days on Market208
Property Features for Broad St
General Information
Standard status
Active
Size
1,250 SF
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,237
Amenities
Central Air
3
Flat
24 X 144, 24 X 144
Central Business District.
Building Details
Year Built
1906
Stories
1
Listing Agency:
CENTURY 21 A.G. REALTY GROUP
(973) 928-3330
Listed By:
ALEXIS GUILLIANI
Source:
Xome
Added: Jan 13
Changed: Aug 8
Last Checked: Aug 9 at 5:04AM
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 CENTURY 21 A.G. REALTY GROUP
Investment Insights
Based on property information with market context.
One-story retail building with approximately 1,250 square feet of flexible commercial space. The property is configured to support a variety of retail uses, making it suitable for tenants seeking an established storefront setting.
Located at 403 Broad St Unit 403 in Bloomfield, NJ, the building is positioned along a highly active passage with visibility to both foot and vehicle traffic. Public transportation is described as being immediately outside the property, and the location also provides easy access to the Garden State Parkway.
Situated in a mixed residential and commercial neighborhood, this area is described as having strong local character with daily destinations and small businesses, supported by residential density and active pedestrian activity.
Located at 403 Broad St Unit 403 in Bloomfield, NJ, the building is positioned along a highly active passage with visibility to both foot and vehicle traffic. Public transportation is described as being immediately outside the property, and the location also provides easy access to the Garden State Parkway.
Situated in a mixed residential and commercial neighborhood, this area is described as having strong local character with daily destinations and small businesses, supported by residential density and active pedestrian activity.
Key Highlights
- One‑story retail building with approximately 1,250 sq ft of flexible commercial space
- Flat roof; central air cooling; heating listed as 3
- Broad Street location in the Central Business District
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
$17,842
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
4.52%
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%
$356,840
$356.8K
Cap Rate 7%
$254,886
$254.9K
Cap Rate 9%
$198,244
$198.2K
Market Conditions
NOI Build-Up for 1,250 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
$27.0K $21.60/SF
− Vacancy
−$1.5K −$1.21/SF
EGI
$25.5K $20.39/SF
− OpEx
−$7.6K −$6.12/SF
NOI
$17.8K $14.27/SF
Area
Essex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$356,840
Cap Rate 7%
$254,886
Cap Rate 9%
$198,244
Alternative Uses
Best Use
Retail
$254.9K
$223.0K – $297.4K
NOI $17,842 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$326.4K
$285.6K – $380.8K
NOI $22,848 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,666
Businesses Nearby
117k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Groceries 32%
Shops & Services 26%
Electronics 2%
Bottle King
Groceries
18,934 visits/mo
0.3 miles
Super Foodtown
Groceries
18,080 visits/mo
0.1 miles
Starbucks
Dining
16,624 visits/mo
0.3 miles
Dunkin' Donuts
Dining
10,139 visits/mo
0.4 miles
Bank of America
Shops & Services
9,395 visits/mo
0.3 miles
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - One-story retail building offering flexible commercial space with visibility to foot and vehicle traffic.
Where is this storefront property located?
The property is located at Broad St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: One‑story retail building with approximately 1,250 sq ft of flexible commercial space; Flat roof; central air cooling; heating listed as 3; Broad Street location in the Central Business District
