301 Winans AveHillside, NJ 07205
- Commercial real estate
- 0.09 AC
Property Details for 301 Winans Ave
- Year built
- 1904
- Construction
- BRICK
- Lot size
- 0.09 AC
- Zone code
- R40T
- Property type
- Commercial real estate
- APN
- 07 00402-0000-00007
- APU
- 700402000000007
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $756,767
- Hospitality
- $693,195
- Educational
- $576,730
- Medical
- $596,564
- Retail
- $897,135
Location Insight
- City
- Hillside
- County
- Union
- State
- New Jersey
- Latitude
- 40.706
- Longitude
- -74.2252
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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