Mixed Used - Multi- Family

Retail-Commercial for Sale
Catylist Listing ID: 30345450
Property Subtypes: Mixed Use, Street Retail, Other
Building Size (RSF): 2,108 SF
Gross Building Area: See Agent
Gross Land Area: 2,500 SF
Sale Price: $329,000
Unit Price: $156.07 PSF
Property Use Type: Investment, Business
Sale Terms: Undisclosed
Cap Rate: 6.0%
Average Occupancy Rate: 100
Last Updated: 11/18/2018

Overview / Comments

382 E Westfield Ave in Roselle Park is ready for a new owner!
This mixed use building is located right on main commuter avenue. Approx 500 sq ft of retail space on the first floor that retains the original tin ceiling with two one-bedroom apartments above.

Lots of updates!  

Furnaces and roof were replaced 8 years ago; water heaters were replaced two years ago with updated plumbing and electric. Both apartment bathrooms and kitchens have been renovated. First floor apartment features high end tile throughout, walk-in closet and access to the backyard; upstairs apartment has hardwood floors, a separate den off of the bedroom with a closet and an unfinished walk-up attic with great height- 2nd bedroom or 3rd apartment studio?

Lots of potential for more income!

Retail unit and first floor apartment are rented, 2nd floor apartment is owner occupied and ready to move. Building has been covered to gas and owner will remove oil prior to closing.

Attachments & Media

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $9,870 (Annual)
Tax Value Land $56,300
Tax Value Improvements $194,600
Assessed Value - Total($) $250,900 (Annual)
Gross Operating Income $34,260 (Annual)
Net Operating Income $19,700 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: New York-Newark-Jersey City
County: Union
Zoning: B-3 ARTERIAL BUSINESS DISTRICT
Retail Clientele: General, Family, Business, Other
Property Located Between: Sherman and Sheridan
Property Visibility: Excellent
Largest Nearby Street: Located on Main Rd
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Renovated: 2010
Heat Type: Natural Gas
Air Conditioning: Window Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 39,878 289,252 654,852
Median Age: 38.03 37.47 36.97
Households: 13,984 102,153 230,629

Contact

Photograph of Listing Agent

Belinda Anderson

Real Broker LLC TSCPIX Member
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