Updated Aug 17, 2026
Marcus & Millichap Sells Mixed-Use Property At 251 North Avenue Westfield For $5.26M
251 North Avenue West
$5,260,000
$295/SF
Building Size
17,831 SF
Asset Type
Mixed-use
Closing
Aug 13, 2026
About this deal
AI
The mixed-use property at 251 North Avenue West in Westfield, NJ, was sold for $5,260,000. This three-story asset encompasses 17,831 square feet and is situated on a 0.18-acre lot. It features nine suites and is strategically located adjacent to the Westfield Train Station. The property is leased to various tenants, including Columbia Bank, Edward Jones, the State of New Jersey, and BAYADA Home Health Care.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,260,000
- Square Feet: 17,831
- Price Per Square Foot: $295
- Address: 251 North Avenue West
- Market: Westfield, NJ
- Acres: 0.18
- Brokers: Alan Cafiero, David Cafiero & Damien Rance - Marcus & Millichap
Alan Cafiero, David Cafiero, and Damien Rance of Marcus & Millichap represented the seller and procured the buyer in this transaction. Their involvement was crucial in facilitating the sale of this property.
On the Map
$5,260,000
$295/SF
Mixed-use
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Charlotte Hall Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.02%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93