402 Bloomfield Ave, Unit 2, Bloomfield, NJ 07003
- Commercial real estate
- 3,966 SF
- 0.21 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 402 Bloomfield Ave
- Year built
- 1890
- Lot size
- 0.21 lot acres
- Zone code
- CBD
- Property type
- Commercial real estate
- APN
- 02 00104-0000-00031
- APU
- 200104000000031
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 15, 2025 | $1,575,000 | Sp Estates LLC | Savitur Homes LLC | Deed | $789k · Kearny Bank |
| Aug 1, 2019 | $100 | 404-406 Bloomfield Ave Assocs | Sheriff Of Essex County | Trustees Deed · related | — |
| Mar 11, 2009 | — | Luise A Suazo SR. | Suazo,luis A JR | Quit Claim Deed · related | — |
| Nov 10, 2008 | — | Luis A Suazo SR. | Suazo,luis A JR | Quit Claim Deed · related | — |
| Aug 21, 2008 | $450,000 | Luis A Suazo | Diletto,mark J | Grant Deed | — |
| — | — | Luis A Suazo | — | Deed Of Trust · related | $440k · Mark J Diletto |
| — | — | Luis A Suazo | — | Deed Of Trust · related | $440k · Mark J Diletto |
Description
This exceptional mixed-use property, located at 402-406 Bloomfield Avenue in Bloomfield, NJ, presents a lucrative investment opportunity. The two-story building encompasses a total of 4,885 square feet on a 0.21-acre lot and boasts nine units: three one-bedroom apartments, three two-bedroom apartments, and three street-level retail spaces. The property has undergone a complete and extensive renovation, including a brand new roof and siding, updated stonework, and a comprehensive interior overhaul. All apartments feature new windows and doors, tile flooring, bathtubs, vanities, kitchen cabinets, stoves, and baseboard heaters. Modernizations extend to the common areas as well. Further enhancing efficiency, two new water tanks (75 and 80 gallons) have been installed. Each unit is separately metered for electricity and heat, with tenants responsible for these utilities. The owner covers hot and cold water expenses. This prime location offers unparalleled convenience, situated just steps from NYC transportation options, a vibrant array of shopping and dining establishments, and provides easy access to both the north and south sections of the Garden State Parkway. The property currently offers a 6.3% cap rate, making it an attractive investment with strong potential for future growth. This is a turnkey opportunity for an astute investor seeking a well-maintained, high-yield property in a desirable location.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,040,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,325,000
Market price range: $591k - $1.33M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $975,000 Current use
- OFFICE BUILDING
- $1,005,000 Change: +3% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Bloomfield
- County
- Essex
- State
- New Jersey
- Longitude
- -74.195
- Latitude
- 40.7879
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
