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19 Franklin St 7,055 SF 100% Leased Retail Building Bloomfield, NJ 07003 $2,100,000 ($297.66/SF) 7.24% Cap Rate
EXECUTIVE SUMMARY
19 Franklin Street is a mixed-use commercial building, in the vibrant Bloomfield, with 6 income-generating rentals. Fully renovated in 2023, offering modern finishes and strong tenant appeal across all units. This renovated building features a total of 6 rental spaces: the second floor consists of three spacious 2-bedrooms, 1-bath residential unit; the first floor hosts a fully leased retail storefront; the garage and the basement is also rented, maximizing income potential. The property offers six private parking spaces. Each residential space is outfitted with stainless steel appliances, sleek new cabinetry, and beautiful hardwood flooring throughout. Tenants enjoy in-unit laundry, added convenience, and enhanced privacy. The building is secured with surveillance cameras and has been meticulously cared for inside and out. Strategically positioned across the street from a shopping center, a bank, restaurants, and a bus station, this property offers excellent foot traffic, high visibility, and unmatched accessibility for commuters and shoppers alike. Whether you're an investor looking for a low-maintenance, cash-flowing asset or seeking to expand your portfolio,19 Franklin Street delivers lasting value and strong stream of passive income.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,055 SF
Building Class
C
Year Built/Renovated
1983/2023
Price
$2,100,000
Price Per SF
$297.66
Cap Rate
7.24%
NOI
$152,130
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.43
Lot Size
0.11 AC
Zoning
B-2 - Business/commercial zone
Parking
6 Spaces (0.85 Spaces per 1,000 SF Leased)
Frontage
50’ on Franklin St
AMENITIES
- Freeway Visibility
- Signage
Walk Score®
Very Walkable (81)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02-00435-0000-00002 | Improvements Assessment | $405,100 |
| Land Assessment | $244,900 | Total Assessment | $650,000 |
PROPERTY TAXES
Parcel Number
02-00435-0000-00002
Land Assessment
$244,900
Improvements Assessment
$405,100
Total Assessment
$650,000
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19 Franklin St
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