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Olympus Court 1030 South Ave W 9,122 SF 100% Leased Office Building Westfield, NJ 07090 $1,999,000 ($219.14/SF) 6.50% Cap Rate
Executive Summary
Exceptional investment with owner occupancy opportunity! First time on market ever! This well-maintained mixed-use building in prime Westfield location offers strong income potential with both residential and commercial tenants. All leases are up for renewal except one commercial unit lease ends Feb 2028. The building features two commercial /storefront units, two 2-bedroom apartments and a 3-bedroom penthouse apartment currently all rented well below market value. Units include premium features such as hardwood floors, modern open floor plans, Gym in building, Central AC, Laundry in-unit, handicap accessibility, elevator, dedicated parking. Bus to NYC stops in front of building. Located within walking distance to schools, NJ Transit & shops. In addition to being closely located to Westfield downtown, the property is in close proximity to the downtown areas of Fanwood and Scotch Plains as well. Easy access to the Garden State Parkway and just a 25-minute drive to Newark Liberty International Airport. Also unique opportunity for owner occupancy! Property website link with additional finacial info & docs available, see link on bottom of this page.
Agent Remarks: 1A- comm lease month to month,1B- comm 2-year lease ends Feb 2028, 2A- apartm lease ends April 2026, 2B - apartm vacant at closing, 3rd floor apartment vacant at closing. Before scheduling appointments, MUST provide Proof of Funds (POF) or a pre-approval letter.
Agent Remarks: 1A- comm lease month to month,1B- comm 2-year lease ends Feb 2028, 2A- apartm lease ends April 2026, 2B - apartm vacant at closing, 3rd floor apartment vacant at closing. Before scheduling appointments, MUST provide Proof of Funds (POF) or a pre-approval letter.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
9,122 SF
Building Class
B
Year Built
2002
Price
$1,999,000
Price Per SF
$219.14
Cap Rate
6.50%
NOI
$129,935
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,061 SF
Building FAR
0.91
Lot Size
0.23 AC
Zoning
Commercial - GB-3 Commercial & Residential
Parking
10 Spaces (1.1 Spaces per 1,000 SF Leased)
Amenities
- Fitness Center
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Balcony
- Smoke Detector
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Law Office of Nadine B. Amaya, P.C.
- Administrative and Support Services
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99,999 SF
- -
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Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Law Office of Nadine B. Amaya, P.C. | Administrative and Support Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
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Photos
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Olympus Court | 1030 South Ave W
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