Prospect St, Westfield, NJ 07090
This exceptional 3,480 sq ft, two-story commercial building boasts a prime downtown Westfield location, directly across from the train station. The property features two separate suites with individual entrances, each offering ample natural light and customizable layouts. The first floor includes large windows, an open floor plan, private offices, a lab/workroom, storage, and a bathroom. The second floor comprises three large offices, two bathrooms, and beautiful hardwood floors. Two dedicated parking spaces are included, with additional street parking available. Separate utility metering for each floor ensures efficient cost management. The building is equipped with four furnaces and three central air conditioning units. The property offers versatile use potential, including retail, office, medical, dental, or fitness spaces. There's also the possibility of converting the second floor into two residential apartments (buyer to verify with the township). This presents a unique live/work opportunity or an excellent investment prospect in a highly desirable area. The asking price is $2,100,000, with annual real estate taxes of $24,706. This central Westfield location provides easy access for commuters and offers significant potential for various businesses. The property's high visibility and convenient location make it an attractive option for both local and out-of-town businesses.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.