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Mixed Use 431 Washington Ave 3,766 SF Office Building Belleville, NJ 07109 $1,100,000 ($292.09/SF) 8% Cap Rate
Executive Summary
Located in the heart of Belleville, 431 Washington Ave offers a well-maintained mixed-use opportunity combining residential and commercial potential in a convenient location near shopping, dining, major highways, and public transportation. Completely renovated in 2011, this property features updated systems and modern improvements designed for functionality and long-term value. The commercial space offers flexible use options with strong visibility along Washington Avenue, making it suitable for a variety of permitted business uses. The residential portion provides comfortable living space with updated finishes, spacious rooms, and abundant natural light. Improvements completed during the renovation include updated flooring, fixtures, mechanical systems, and interior finishes. Additional features may include separate utilities, ample storage, and off-street parking, adding convenience for occupants and tenants alike. Situated near parks, schools, houses of worship, and commuter routes with access to Newark and New York City, this property presents an excellent opportunity for owner-users, investors, or business owners seeking a versatile mixed-use building in a desirable location.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
3,766 SF
Building Class
C
Year Built/Renovated
1908/2011
Price
$1,100,000
Price Per SF
$292.09
Cap Rate
8%
NOI
$88,000
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
1,255 SF
Building FAR
0.47
Lot Size
0.18 AC
Zoning
Comm & Res - Comm & Res.
Parking
6 Spaces (1.59 Spaces per 1,000 SF Leased)
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Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 01-07902-0000-00022 | Improvements Assessment | $248,000 |
| Land Assessment | $217,100 | Total Assessment | $465,100 |
Property Taxes
Parcel Number
01-07902-0000-00022
Land Assessment
$217,100
Improvements Assessment
$248,000
Total Assessment
$465,100
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Mixed Use | 431 Washington Ave