Auction - Bloomfield Mixed-Use (Next to Train Station) — Sale in Bloomfield, NJ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Bloomfield, NJ 07003

Photos

Auction - Bloomfield Mixed-Use (Next to Train Station) — Sale in Bloomfield, NJ, photo 1 of 2
Auction - Bloomfield Mixed-Use (Next to Train Station) — Sale in Bloomfield, NJ, photo 2 of 2

Investment Figures

Cap rate
6.88%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Register to bid and access due diligence documents on Ten-X: https://www.loopnet.com/Listing/7-9-Watsessing-Ave-Bloomfield-NJ/39387243/ 7-9 Watsessing Avenue offers a rare, transit-oriented, mixed-use opportunity in Bloomfield’s dynamic Watsessing neighborhood. Spanning two stories, the 4,980-square-foot storefront retail and residential property includes 2,490 square feet of ground-floor retail across two units, 2,490 square feet of upper-level residential space across two units, and additional basement area on a 0.08-acre lot. Built in 1913 and renovated in 2024, the asset combines established neighborhood recognition with updated functionality. The property is 100% occupied, offering a rare investment opportunity for savvy buyers. The property’s location is a defining advantage. Positioned directly adjacent to Watsessing Train Station and less than 1 mile from Grove Street Station, the asset benefits from built-in pedestrian exposure and additional Newark Light Rail access. Immediate proximity to the Garden State Parkway strengthens regional connectivity, while visibility is supported by strong foot traffic, more than 9,300 daily vehicles on Dodd Street, and approximately 179,000 vehicles on the Parkway. Watsessing functions as a community hub shaped by rail service, Watsessing Park, neighborhood retailers, service businesses, and surrounding residential areas. Nearby restaurants, salons, convenience stores, and service-based retailers deliver strong shopper cross-traffic and supply daily convenience for staff. National brands within five minutes of the property include industry leaders like Home Depot, Aldi, AutoZone Auto Parts, T-Mobile, Chipotle, Jersey Mike’s Subs, and more. Market fundamentals strengthen the investment narrative. The Bloomfield/Garden State Parkway Retail Submarket reports 2.6% vacancy and 3.9% year-over-year rent growth, while Upper Essex County multifamily conditions remain favorable with 5.6% vacancy, rents above the metro average, and 2.

Market Context

This mixed use in Bloomfield, NJ is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing mixed use assets. Compare it against other mixed use listings for sale in Bloomfield, NJ — view the full market.

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