WHO MUCH SHOULD I PAY FOR MIXED USE COMMERICAL PROPERTY 900 SQ FT IN 07011 ZIP?

Chewy
Home Buyer
Clifton, NJ

Answers (2)
First to answer: Dp2
Charlene Nagel
Agent
Bergen County, NJ

Many factors have to by taken into consideration. The price of a gas station on Route 46 would be different from the price of the same size gas station on Paulison Avenue. Here it is the question on income derived from the potential volume. Another consideration would be what you mean by "mixed use"?. A commercial property containing a deli and clothing store on Clifton avenue would be different from a combination Pizza Palor and apartment building accross the street.
I'd be happy to speak with you to discuss..
Charlene Nagel
Weichert Realtors
charlene.nagel@weichertrealtors.net

Tue Sep 8 2009, 08:16
Dp2
Other/Just Looking
Virginia
FIRST ANSWER

The valuation methods for commercial and residential properties differ. In the latter case, one uses a CMA to determine that value. In the prior case, one uses the income to determine that value. You need to get the rental comps and vacancy rate for the area, and some other market data to get a better idea of what to charge for rent. Also, keep in mind that commercial rents are usually given in terms of price/sf/year and the amount of rentable space.

Mon Sep 7 2009, 07:12

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