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639 Passaic Ave 9,420 SF 100% Leased Retail Building Nutley, NJ 07110 $2,500,000 ($265.39/SF) 6.60% Cap Rate
INVESTMENT HIGHLIGHTS
- Corner lot with parking available
- Very accessible from NJ-3
- Vibrant part of town with local commercial tenants nearby
EXECUTIVE SUMMARY
A prime commercial real estate opportunity in the desirable Nutley, NJ area. The property is currently 100% occupied.
Located in close proximity to the New York Metropolitan area, this property offers an ideal location for those who want easy access to the city while still enjoying the suburban lifestyle. The property is situated close to shopping centers, major highways, and other amenities, making it an attractive location for residents.
With its current occupancy rate, this property offers a stable and predictable income stream for investors. However, the redevelopment potential offers even greater opportunities for those looking to maximize their return on investment. The addition of residential units in this prime location would provide an attractive living option for those who want to live close to the city but still enjoy a suburban lifestyle.
Located in close proximity to the New York Metropolitan area, this property offers an ideal location for those who want easy access to the city while still enjoying the suburban lifestyle. The property is situated close to shopping centers, major highways, and other amenities, making it an attractive location for residents.
With its current occupancy rate, this property offers a stable and predictable income stream for investors. However, the redevelopment potential offers even greater opportunities for those looking to maximize their return on investment. The addition of residential units in this prime location would provide an attractive living option for those who want to live close to the city but still enjoy a suburban lifestyle.
FINANCIAL SUMMARY (ACTUAL - 2025) 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 - 2025) 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 or Owner User
Property Type
Building Size
9,420 SF
Building Class
C
Year Built/Renovated
1980/2002
Price
$2,500,000
Price Per SF
$265.39
Cap Rate
6.60%
NOI
$165,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.57
Lot Size
0.38 AC
Zoning
B2, Nutley Twp - A neighborhood business district that allows for a variety of uses.
Parking
13 Spaces (1.38 Spaces per 1,000 SF Leased)
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 16-01901-0000-00010 | Total Assessment | $1,481,800 |
| Land Assessment | $656,700 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $825,100 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
16-01901-0000-00010
Land Assessment
$656,700
Improvements Assessment
$825,100
Total Assessment
$1,481,800
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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639 Passaic Avenue
639 Passaic Ave
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