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108 Franklin Ave
Nutley, NJ 07110
Retail Property For Sale
Investment Highlights
- Fully leased mixed-use asset generating consistent cash flow.
- Approximately $102,000 in annual gross income with reported NOI of $78,780.
- Diversified retail and residential tenancy supporting long-term income stability.
- Two ground-level retail spaces complemented by two residential apartments.
- Prominent corner location on Franklin Avenue within Nutley’s B-3 Business District.
- Attractive option for 1031 exchange investors seeking passive returns.
Executive Summary
This fully leased mixed-use property at 108 Franklin Avenue in Nutley, NJ, offers a well-balanced income stream through a combination of retail and residential tenants. Positioned on a visible corner along Franklin Avenue, the asset includes four units—two ground-floor retail storefronts and two upper-level residential apartments, each offering two bedrooms and one bath.
With a total annual gross income of approximately $102,180 and a Net Operating Income (NOI) of $78,780, the property boasts a cap rate of about 6.85% at the current asking price of $1,150,000. The B-3 Business District zoning provides flexibility for continued mixed-use operations and long-term investment security. The diversified tenancy ensures stability, making it an attractive opportunity for investors seeking steady cash flow and potential future appreciation.
The property’s corner location enhances visibility for retail businesses, while the nearby residential neighborhoods support strong tenant demand. Additionally, the offering is well-suited for those considering a 1031 exchange, providing a chance to reposition capital into a secure, income-generating asset with limited management requirements.
With a total annual gross income of approximately $102,180 and a Net Operating Income (NOI) of $78,780, the property boasts a cap rate of about 6.85% at the current asking price of $1,150,000. The B-3 Business District zoning provides flexibility for continued mixed-use operations and long-term investment security. The diversified tenancy ensures stability, making it an attractive opportunity for investors seeking steady cash flow and potential future appreciation.
The property’s corner location enhances visibility for retail businesses, while the nearby residential neighborhoods support strong tenant demand. Additionally, the offering is well-suited for those considering a 1031 exchange, providing a chance to reposition capital into a secure, income-generating asset with limited management requirements.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
2,031 SF
Building Class
C
Year Built
1925
Price
$1,150,000
Price Per SF
$566.22
Cap Rate
6.85%
NOI
$78,780
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Slab To Slab
12’
Building FAR
0.43
Lot Size
0.11 AC
Zoning
B-3 - Business District
Parking
5 Spaces (2.46 Spaces per 1,000 SF Leased)
Frontage
25’ on Franklin Ave
Amenities
- Smoke Detector
Property Taxes
| Parcel Number | 16-09104-0000-00005 | Improvements Assessment | $295,000 |
| Land Assessment | $401,000 | Total Assessment | $696,000 |
Property Taxes
Parcel Number
16-09104-0000-00005
Land Assessment
$401,000
Improvements Assessment
$295,000
Total Assessment
$696,000
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