301 Winans AveHillside, NJ 07205

This exceptional mixed-use property in Hillside, New Jersey, presents a lucrative investment opportunity. Located at 301-303 Winans Avenue, this two-story building boasts 4,000 square feet on a 4,000 square foot lot and comprises four thriving retail/restaurant spaces and two three-bedroom, one-bathroom apartments. Currently generating a Net Operating Income (NOI) of $124,000 with an occupancy rate of 80% (as of September 30, 2024), this property offers a compelling 9.92% cap rate. The asking price is $1,250,000, translating to $312.50 per square foot. Current rental income totals $12,000 per month, with potential for significant increases to $16,000-$18,000 monthly through strategic upgrades and lease adjustments. The current tenant mix includes a beauty salon ($1,500/month), a coffee shop ($1,800/month), a restaurant ($3,200/month), and a smoke shop ($2,000/month). Annual property taxes are $14,000, and insurance costs $5,500 annually. The property's strategic location at a busy intersection with easy access to Route 78 ensures high visibility and convenient access. This is a rare chance to acquire a well-positioned mixed-use asset with substantial upside potential. The property is offered for sale by owner.