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Irvington 5-Unit Retail & Residential 216-218 Orange Ave 5,262 SF 100% Leased Retail Building Irvington, NJ 07111 $1,094,271 CAD ($207.96 CAD/SF) 7.60% Cap Rate
Investment Highlights
- 5-Unit Mixed-Use Investment Includes 3 commercial/retail units and 2 residential apartments.
- Strong Reported NOI Reported NOI of $60,882 with a 7.6% cap rate at the asking price.
- Orange Avenue Street-Front Visibility Corner property with ground-floor retail exposure and neighborhood traffic.
- 100% Occupied Asset Fully leased with immediate in-place income.
- Recently Renovated in 2025 Updated interiors, refreshed finishes, modern lighting, and improved layouts.
- On-Site Parking and Separate Utilities Includes 6 parking spaces with separate heat, water, electric, and gas.
Executive Summary
Offered at $799,999, 216 Orange Avenue is a 5-unit mixed-use investment property located in Irvington, NJ. The asset consists of 3 commercial/retail units and 2 residential apartments, with a reported annual gross rent of $94,992 and NOI of $60,882. Current tenancy includes a grocery store on a 7-year lease, along with year-to-year leases for the bill pay store, barbershop, and residential apartments.
The property offers investors immediate in-place income, 100% occupancy, and upside through continued lease management and long-term rent growth. With a price of approximately $152/SF and a 7.6% cap rate, this is a compelling Essex County mixed-use opportunity for investors looking for a stabilized asset in an active neighborhood corridor.
The property offers investors immediate in-place income, 100% occupancy, and upside through continued lease management and long-term rent growth. With a price of approximately $152/SF and a 7.6% cap rate, this is a compelling Essex County mixed-use opportunity for investors looking for a stabilized asset in an active neighborhood corridor.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Convenience Store
Building Size
5,262 SF
Building Class
C
Year Built/Renovated
1948/2013
Price
$1,094,271 CAD
Price Per SF
$207.96 CAD
Cap Rate
7.60%
NOI
$83,165 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.24
Lot Size
0.10 AC
Parking
3 Spaces (0.57 Spaces per 1,000 SF Leased)
Very walkable
80/100
Fairly drivable
50/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 09-00076-0000-00006 | Improvements Assessment | $330,197 CAD |
| Land Assessment | $254,281 CAD | Total Assessment | $584,478 CAD |
Property Taxes
Parcel Number
09-00076-0000-00006
Land Assessment
$254,281 CAD
Improvements Assessment
$330,197 CAD
Total Assessment
$584,478 CAD
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Irvington 5-Unit Retail & Residential | 216-218 Orange Ave
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