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171-173 Franklin Ave
Nutley, NJ 07110
RARE: Nutley Retail, Residential & Warehouse · Retail Property For Sale
Investment Highlights
- ±12,500 SF mixed-use investment property | 5 Units
- ±2,572 SF street-level retail space along Franklin Avenue
- Approximately 9,000 SF lot measuring roughly 60' × 150'
- Three residential apartments providing multiple income streams
- ±4,620 SF rear warehouse with substantial ceiling height
- Value-add opportunity with current income and potential rental upside
Executive Summary
171–173 Franklin Avenue presents a mixed-use investment opportunity in the heart of Nutley’s downtown commercial corridor. The approximately 12,500-square-foot property is situated on a roughly 9,000-square-foot lot measuring approximately 60 feet by 150 feet and includes residential, retail, and warehouse components. Totaling 5 Units.
The property contains three residential apartments, an approximately 2,572-square-foot retail space currently occupied by a furniture store, and an approximately 4,620-square-foot rear warehouse with substantial ceiling height. Together, these uses create multiple income streams within one well-located asset.
Originally built in 1910 and renovated in 2010, the two-story building is positioned along Franklin Avenue within Nutley’s B-3A Downtown Business district. The combination of apartments, storefront retail, and warehouse space makes the property attractive to investors seeking a diversified mixed-use asset with existing income and future upside through improved rents, management, or repositioning, subject to existing leases and municipal requirements.
The property contains three residential apartments, an approximately 2,572-square-foot retail space currently occupied by a furniture store, and an approximately 4,620-square-foot rear warehouse with substantial ceiling height. Together, these uses create multiple income streams within one well-located asset.
Originally built in 1910 and renovated in 2010, the two-story building is positioned along Franklin Avenue within Nutley’s B-3A Downtown Business district. The combination of apartments, storefront retail, and warehouse space makes the property attractive to investors seeking a diversified mixed-use asset with existing income and future upside through improved rents, management, or repositioning, subject to existing leases and municipal requirements.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
12,500 SF
Building Class
C
Year Built/Renovated
1940/2010
Price
$1,300,000
Price Per SF
$104
Cap Rate
6.83%
NOI
$88,795
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.30
Lot Size
0.22 AC
Zoning
B-3A - B-3A Downtown Business zoning supporting retail, service, office and other commercial uses, subject to municipal approvals.
Frontage
66’ on Franklin Ave
Amenities
- Signage
- Air Conditioning
Property Taxes
| Parcel Number | 16-07604-0000-00019 | Improvements Assessment | $546,900 |
| Land Assessment | $510,000 | Total Assessment | $1,056,900 |
Property Taxes
Parcel Number
16-07604-0000-00019
Land Assessment
$510,000
Improvements Assessment
$546,900
Total Assessment
$1,056,900
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