557 Broad St 10,682 SF 100% Leased Office Building Bloomfield, NJ 07003 $1,850,000 ($173.19/SF) 9.25% Cap Rate
INVESTMENT HIGHLIGHTS
- High visibilty street near revitalized downtown
- Easily accessible parking lot, public transportation accessible
EXECUTIVE SUMMARY
Professional office/medical building approx. 10,683sf on approx. 15,512ft lot. Highly visible location on busy corner in desirable neighborhood with easy in/out access to private parking lot.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
10,682 SF
Building Class
B
Year Built
1987
Price
$1,850,000
Price Per SF
$173.19
Cap Rate
9.25%
NOI
$171,125
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
3,561 SF
Building FAR
0.68
Lot Size
0.36 AC
Zoning
B-2, Bloomfiled - general or specialized offices, service clubs, retail sales/services, banks, educational, and much more (ref: 315-38 Zoning Regulations sec E.1.a-n)
Parking
24 Spaces (2.25 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Central Heating
- Drop Ceiling
- Air Conditioning
1 of 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 02-00792-0000-00030 | Total Assessment | $1,258,400 (2024) |
| Land Assessment | $548,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $709,600 (2024) | Tax Year | 2023 |
CONTACTS
-
Steve Kitsonidis -
James DiOrio - The DiOrio Team at Berkshire Hathaway Commercial
