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Bloomfield Mixed-Use (next to train station) - 7-9 Watsessing Avenue, Bloomfield, NJ

Property Details

  • Price :

  • Square Feet :

  • Cap Rate :

  • $1,834,000

  • 4,980

  • 6.25%

  • NOI :

  • Acres :

  • $114,632

  • 0.07

  • Property Type :

  • Property Status :

  • Mixed-Use

  • Available

Investment Highlights

TENANTS

• Taste of Korea – ground-floor restaurant tenant strategically positioned steps from the Watsessing Train Station, benefiting from constant commuter foot traffic and strong daytime activity

• Location-driven tenancy supported by a Walk Score of 81 and approximately 10,000 vehicles per day along Watsessing Avenue

• One Stop Convenience – ground-floor convenience retail tenant directly aligned additionally to commuter traffic and surrounding residential density

• Both retail tenants occupy highly visible, transit-oriented space at one of Bloomfield’s most trafficked commuter nodes

• Two (2) residential apartment units, each configured as four-bedroom layouts, located above the retail component

• Large-unit configuration supports strong rental demand and durable residential income in a transit-adjacent location

LEASES

• Taste of Korea has approximately 4.5 years remaining on its lease, expiring May 2029, with one (1) five-year renewal option

• Tenant operates under a net lease, reimbursing its pro rata share of real estate taxes and paying all other operating expenses directly

• One Stop Convenience has approximately 5 years remaining on its lease, expiring March 30, 2030

• Tenant reimburses real estate taxes above a 2025 base year and pays all other operating expenses directly

• Two (2) four-bedroom apartments leased on year-to-year terms

• Residential income complements the retail cash flow while maintaining minimal management complexity

BUILDING

• 4,980 SF mixed-use building with ground-floor retail and residential units above

• Additional 2,490 SF of basement space offering storage or future repositioning potential (not included in SF)

• Originally constructed in 1913 and renovated in 2024

• Two-story structure plus basement

• Irreplaceable transit-oriented asset directly adjacent to the Watsessing Train Station, effectively sharing a wall with the station

LOCATION / MARKET

• Immediately next door to the Watsessing Train Station, offering direct NJ Transit service and constant commuter foot traffic

• Prime transit-oriented location in Bloomfield, NJ, benefiting from daily ridership and surrounding residential density

• Surrounded by neighborhood retail, restaurants, and residential uses supporting consistent demand

• Exceptional positioning for long-term retail viability given its step-out-of-the-train visibility and access