Property profile

1066 Westfield Ave Rahway, NJ 07065

OFF-MARKET
Gas stations
Property ID
US59-1388922
0.11 ac lot Built 1930
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, located at 1066 Westfield Avenue in Rahway City, New Jersey, presents a unique investment opportunity. The 990-square-foot building sits on a 0.1-acre lot and is ideally situated near the intersection of Westfield Avenue and Broadway/Madison Avenue, ensuring high visibility and accessibility. Currently configured as a tire shop, the property boasts a recent top-to-bottom renovation, including a new roof, doors, and windows, updated electrical systems with LED lighting, and a new office with a half-bath. The interior features two heated and air-conditioned bays, providing ample workspace. Extensive parking is available, accommodating ten or more vehicles in the front and additional space at the rear. The property's strategic location within a high-traffic area guarantees consistent customer flow and substantial revenue potential. The asking price of $850,000 includes the real estate. This is a turnkey operation ready for immediate occupancy or further development. The property's zip code is 07065-2041, and it is located in Union County, New Jersey. This is an excellent opportunity to acquire a well-maintained, high-traffic commercial property in a desirable location.

Property profile

Verified
Property type Gas stations
Use group SERVICE STATION (FULL SERVICE)
Year built 1930
Construction CONCRETE BLOCKS
Lot 0.11 ac (4,918 SF)
APN 13 00187-0000-00001
UPID US59-1388922

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1066 Westfield Ave Rahway, NJ 07065-2041
Rahway metro Census 35700 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$475k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$470k

Owner & transaction history

since 2022
Last sale
$400,000
1 recorded transaction
2022
$400,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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