375 Broad StBloomfield, NJ 07003

Property Details for 375 Broad St

Year built

1948

Lot size

0.06 AC

Zone code

B-2

Property type

Office buildings

APN

02 00575-0000-00008

APU

200575000000008

Description

This exceptional mixed-use property, located at 375 Broad Street in Bloomfield, New Jersey, presents a unique investment opportunity. The building, constructed in 1948, offers 2,400 square feet of space across two stories, situated on a 2,818 square foot lot. Currently vacant, this single-unit building allows for immediate occupancy and customization to suit a variety of business needs. The property is zoned B2, providing flexibility for a range of commercial uses, including office and retail spaces. The asking price is $750,000, translating to $312.50 per square foot. Its prime location in the heart of Bloomfield offers easy access to a thriving community with numerous restaurants and shops, ensuring high visibility and foot traffic. This free-standing building represents a rare chance to own a versatile commercial property in a desirable New Jersey town. The property's size and zoning make it ideal for a variety of business ventures, from a single large tenant to multiple smaller businesses. This is an excellent opportunity for investors seeking a strong return or entrepreneurs looking to establish a presence in a vibrant and growing community. The address is 375 Broad Street, Bloomfield, NJ 07003.

• CAP approach

  CAP return

  Valuation

  6%

  $465,900

  6.5%

  $430,061

  7%

  $399,342

• Comparable approach

  Method

  Valuation

  Relative Method

  $368,200

  Geo Method

  $368,200

• Alternative Use

  Use

  Valuation

  Residential

  $533,276

  Hospitality

  $488,478

  Educational

  $406,408

  Medical

  $420,385

  Retail

  $632,190

Location Insight

City

Bloomfield

County

Essex

State

New Jersey

Latitude

40.8064

Longitude

-74.1925

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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