687-693 Bloomfield Ave West Caldwell, NJ 07006
- Lifestyle centers
- 3,000 SF
- 0.24 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 687-693 Bloomfield Ave
- Year built
- 1969
- Lot size
- 0.24 lot acres
- Property size
- 3,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
Exceptional investment opportunity: a fully leased, 3,000 square foot shopping center in West Caldwell, New Jersey, situated on a high-traffic section of Bloomfield Avenue. This single-story, 1969-built property boasts a strong 6.18% cap rate and a substantial net operating income (NOI) of $102,000. The property features three tenants: a dog training academy, a bubble tea and dessert cafe, and a nail salon, ensuring consistent cash flow. The 0.24-acre lot provides ample parking with 15 spaces located behind the building. The building offers flexibility for future tenants; the space at 687-689 Bloomfield Avenue could be subdivided into two units, or the space at 691-693 Bloomfield Avenue could be combined. Utilities are separately metered for the nail salon, while the remaining units share and split costs. The property's convenient location near Caldwell University and Essex County Community College guarantees high visibility and foot traffic. This well-maintained commercial property is zoned for commercial use and presents a compelling investment prospect with built-in rent bumps. The asking price is $1,650,000, translating to $550 per square foot. This is a rare opportunity to acquire a stable, income-producing asset in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Caldwell
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2912
- Latitude
- 40.8489
