Property profile

450 Bloomfield Ave Verona, NJ 07044

OFF-MARKET
Commercial real estate
Property ID
US59-1248083
10,464 SF 0.18 ac lot Built 1988
Entity Owned 9-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 1029-square-foot office space, located at 450 Bloomfield Avenue, Unit 203, Verona, NJ, presents a fantastic opportunity for businesses seeking a thriving location. Situated in an eight-unit building brimming with successful enterprises, this second-floor unit boasts a spacious layout encompassing three distinct sections, a large kitchen, and a private bathroom. The property is conveniently located across the street from Verona Park, offering employees and clients a tranquil green space. Ample parking is available with 25 co-shared spaces in a private lot directly across from the building. This Class B office space is part of a vibrant, up-and-coming area experiencing significant growth and the influx of new businesses. The asking price is $2500. The 0.17-acre lot provides convenient access and visibility. All permitted uses are subject to the Township of Verona's business application approval process. A significant advantage is the absence of common area maintenance (CAM) charges. Furthermore, snow removal is handled by the landlord, eliminating a significant operational concern. Finally, any future tax increases on the building will be shared proportionally among the eight units. A floor plan is available upon request.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1988
Total area 10,464 SF
Lot 0.18 ac (7,623 SF)
APN 20 00701-0000-00002
UPID US59-1248083

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
  • Wellness Program
  • Psychotherapist Family Counselor
  • Business Management Consultant
  • Consultant

Location

450 Bloomfield Ave Verona, NJ 07044-2033
Verona metro Census 21100 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
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$983k
Blend (final) Blend
$620k

Owner & transaction history

since 2017
1 recorded transaction
2017
$950,000

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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