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    For Sale (15)

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    Newark City Multifamily Investment Opportunity
    $949,000
    999 SF

    Newark City Multifamily Investment Opportunity

    Turnkey six-unit residential property near Downtown Newark and the airport.

    150 Dayton St, Newark, NJ 07114
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    Multi-Family Home Near Maplewood Border
    $499,000

    Multi-Family Home Near Maplewood Border

    Multi-family home with flexible layout and investment potential.

    1460 Clinton Ave, Irvington, NJ 07111
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    Renovated Two-Family Home in Union
    $1,049,000
    0.11 Acres

    Renovated Two-Family Home in Union

    Turnkey investment opportunity with high-end residential comfort.

    1016 Gifford Ct, Union, NJ 07083
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    East Orange Commercial Investment Opportunity
    $3,995,000
    24,000 SF

    East Orange Commercial Investment Opportunity

    Fully occupied commercial building with long-term tenants and income potential.

    110 S Grove St, East Orange, NJ 07018
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    Historic 6-Family Home Investment
    $1,099,000
    9,999 SF

    Historic 6-Family Home Investment

    Charming 6-unit property in North Plainfield's Historic District.

    64 Washington Ave, Plainfield, NJ 07060
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    Historic 6-Family Home, Prime Location
    $1,099,000
    0.29 Acres

    Historic 6-Family Home, Prime Location

    Charming 6-unit property in North Plainfield's Historic District.

    64 Washington Ave, Plainfield, NJ 07060
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    Renovated Two-Family Home, Elizabeth
    $599,000

    Renovated Two-Family Home, Elizabeth

    Fully renovated two-family home in the heart of Elizabeth.

    629 Magnolia Ave, Elizabeth, NJ 07206
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    Updated Multi-Family Investment Opportunity
    $799,000
    0.08 Acres

    Updated Multi-Family Investment Opportunity

    Three-unit property updated in 2023, ideal for investors or homeowners.

    449 E Westfield Ave, Roselle Park, NJ 07204
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    Turnkey Retail Opportunity in Union
    $2,699,000
    6,188 SF

    Turnkey Retail Opportunity in Union

    Prime commercial property with existing retail infrastructure in Union, NJ.

    454 Chestnut St, Union, NJ 07083
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    Renovated Two-Family Home in Union
    $1,049,000
    3,500 SF

    Renovated Two-Family Home in Union

    Spacious, renovated two-family home with modern updates and flexible living.

    859 Dewey St, Union, NJ 07083
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    Newark City Fourplex Investment Opportunity
    $699,000
    0.09 Acres

    Newark City Fourplex Investment Opportunity

    Turn-key fourplex near downtown Newark and the airport.

    154 Dayton St, Newark, NJ 07114
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    Renovated Duplex in Union Township
    $849,000
    0.13 Acres

    Renovated Duplex in Union Township

    Meticulously renovated duplex, perfect for living or investment.

    1066-1068 W Chestnut St, Union, NJ 07083
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    Turnkey Retail Opportunity in Union
    $2,699,000
    6,188 SF

    Turnkey Retail Opportunity in Union

    Prime commercial property with existing retail infrastructure in Union, NJ.

    454 Chestnut St, Union, NJ 07083
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    Six-Unit Multifamily Investment Property
    $949,000
    999 SF

    Six-Unit Multifamily Investment Property

    Turn-key, income-producing six-unit property near Downtown Newark and airport.

    150 Dayton St, Newark, NJ 07114
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    Updated Hoboken Corner Commercial Space
    $799,000

    Updated Hoboken Corner Commercial Space

    Versatile, updated corner space suitable for various businesses.

    422 Grand St, Hoboken, NJ 07030
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    For Lease (6)

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    Summit City Commercial Space Available
    $4,800 / Mo
    3,900 SF

    Summit City Commercial Space Available

    Retail or office space for rent in Summit City.

    458 Springfield Ave, Summit, NJ 07901
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    Adaptable Commercial Space For Rent
    $20 SF/Yr
    16,117 SF

    Adaptable Commercial Space For Rent

    Professionally finished commercial space suitable for medical or professional services.

    2350 South Ave, Scotch Plains, NJ 07076
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    Professional Office Space For Rent
    $800 / Mo

    Professional Office Space For Rent

    Desirable office space near train station and downtown core.

    134 S Euclid Ave, Westfield, NJ 07090
    View details
    Cranford Professional/Doctors Office Building
    $2,700 / Mo
    5,352 SF

    Cranford Professional/Doctors Office Building

    Prime office space in Cranford's downtown business district.

    198 North Ave E, Cranford, NJ 07016
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    Retail/Office Space For Rent
    $4,800 / Mo
    3,900 SF

    Retail/Office Space For Rent

    3900 sqft retail/office space available for rent.

    458 Springfield Ave, Summit, NJ 07901
    View details
    Renovated Apartment Near Transportation
    $2,750 / Mo

    Renovated Apartment Near Transportation

    Mint condition, 3 bed, 2 bath apartment near transportation.

    131 Armstrong Ave, Jersey City, NJ 07305
    View details

    Leases and Sales on Map

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    Keller Williams Realty Premier Properties of Westfield
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Keller Williams Realty Premier Properties of Westfield
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