414 Centre St
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414 Centre St
4,400 SF 55% Leased Office Building Nutley, NJ 07110 $990,000 ($225/SF) 6.10% Cap Rate
Investment Highlights
- Charming Victorian Design: Built in 2006, this 4-unit office building features a classic Victorian style with colonial detailed molding and hardwood o
- Ample Amenities: Includes a full eat-in kitchen in the basement with abundant storage, and an additional luncheon room in the second-floor unit.
- Parking & Accessibility: A dedicated parking lot with handicap-accessible rear entry, plus easy access to an adjacent municipal parking lot.
- Spacious Layout: The building offers three floors of professional office space, providing a bright and vibrant environment enhanced by porcelain tile
- Convenient Restrooms: Three bathrooms, one on each floor, ensure convenience for tenants and clients.
- Well-Maintained: The property has been thoughtfully designed and maintained, making it an inviting space for a variety of professional tenants.
Executive Summary
Attractive and inviting 4-unit office building built in 2006, designed in a Victorian style offering three floors of professional office space adorned with colonial detailed molding, hardwood oak floors throughout and porcelain tile creating a bright and vibrant space. The basement offers a full eat-in-kitchen along with plenty of dedicated storage space. The second-floor unit has an additional luncheon room. Three bathrooms (one on each floor). Dedicated parking lot with handicap-accessible rear entry. Behind the property is a municipal parking lot for added convenience. All square footage is approximate.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Building Size
4,400 SF
Building Class
C
Year Built/Renovated
2006/2007
Price
$990,000
Price Per SF
$225
Cap Rate
6.10%
NOI
$60,390
Percent Leased
55%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,467 SF
Slab To Slab
8’
Building FAR
0.72
Lot Size
0.14 AC
Zoning
Office - B-3A
Parking
7 Spaces (1.59 Spaces per 1,000 SF Leased)
Amenities
- Kitchen
- Recessed Lighting
- Hardwood Floors
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Floor
- 1,500 SF
- Office
- -
- Now
- 1st Floor
- 500 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 1,500 SF | Office | - | Now |
| 1st Floor | 500 SF | Office | - | Now |
1st Floor
| Size |
| 1,500 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size |
| 500 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
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Walk Score ®
Walker's Paradise (95)
PROPERTY TAXES
| Parcel Number | 16-05902-0000-00024 | Total Assessment | $861,900 (2024) |
| Land Assessment | $384,900 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $477,000 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
16-05902-0000-00024
Land Assessment
$384,900 (2024)
Improvements Assessment
$477,000 (2024)
Total Assessment
$861,900 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2022
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414 Centre St
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