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Property profile

118 Westfield Ave Clark, NJ 07066

OFF-MARKET
Commercial real estate
Property ID
US59-0950616
View Sample
0.26 ac lot Built 1924
Individually Owned 16-yr Hold Absentee Owner ~ Est. High Equity

Property summary

AI-generated overview

This exceptional 3,800 square foot office space, located at 118 Westfield Ave, Unit 7, Clark, NJ, presents a fantastic opportunity for a professional business. Currently priced at just $1,500 per month (negotiable), this second-floor office boasts a generous layout ideal for various professional uses. Previously occupied by an attorney's office, the space includes a sizable reception area with ample seating for clients and a dedicated desk for administrative staff. Two additional private offices provide ideal spaces for associates or meetings. Three convenient storage closets offer ample storage solutions. A private lavatory adds to the convenience and privacy of this space. The building features a rear parking lot, providing convenient parking for staff and clients. The property has recently undergone fresh painting and cleaning, ensuring a move-in ready condition. Enjoy easy access to major transportation routes, with the Parkway and Route 1/9 just three minutes away. This is a below-market rate, and the first month's rent is free! The back entrance provides convenient access. Don't miss this chance to secure this exceptional office space in a prime commercial area.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1924
Construction FRAME
Lot 0.26 ac (11,195 SF)
Zoning code CO
APN 02 00122-0000-00014
UPID US59-0950616

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Law Firm
  • Alternative Medicine Practice
  • Tutoring Service
  • Alternative Medicine Practice Spa & Massage Center
  • Theater & Performing Art Venue Music Venue

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$420k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$420k

Owner & transaction history

since 2010
5 recorded transactions
2010
Price N/A
2010
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

CO · Clark, NJ
Zoning description

8 R-A Multiple-Family Apartment Residential District. § 195-129 R-B Multiple-Family Residential District. § 195-130 R-SH Age-Restricted/Senior Housing Overlay District. § 195-131 DTV Downtown Village District. § 195-132…

General category COMMERCIAL

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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