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    1 Russo Place unit # 3 Berkeley Heights, NJ 07922

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    COMMERCIAL - Berkeley Heights, NJ

    Property size:
    15,312 SF
    Lot size:
    1.97 Acres
    Added:
    Feb 22, 2026
    Days on Market:
    46
    Last Refresh:
    Apr 9 at 9:06 pm

    Property Features for 1 Russo Place unit # 3

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    LI
    Parking
    3
    Interior features
    Fixtures, Lighting Fixtures
    Standard status
    Active
    APN
    0101901000000036
    Size
    15,312 SF
    Lot size
    1.97 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    42870

    Utilities

    Heating system
    Central, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1972
    Floors in Building
    1
    Flooring type
    Tile, Lighting fixtures, Concrete, Linoleum
    Building materials
    Brick, Stucco, Concrete
    Roof type
    Rubber

    We can help!

    Listing Contact
    Carmen Schlesinger

    Listing agent Carmen Schlesinger

    Listing office PETRA BEST REALTY LLC 329 SMITH ST, Perth Amboy, NJ

    Listing date Feb 22, 2026

    MLS# 2611233R

    Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Berkeley Heights Commercial Opportunity

    A 2,750 square foot space is available within a commercial property located in Berkeley Heights, New Jersey. Situated on a 1.97-acre corner lot, the property offers available parking and is positioned across from the YMCA and a performing arts school. The building currently houses established businesses, including an environmental consulting firm, an engineering firm, and a print center, with some tenants having occupied the building for over 10 years. Features include a dock entry, handicap accessibility, and a separate entrance. Water is included. The property is zoned LI. Additionally, a small office space is available for rent within the same building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Anco Environmental Services ... Soil Testing Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Devour Creative Catering — 473 Springfield Ave, Berkeley Heights, NJ 07922
    • Mroshosh Hibachi Mobile Catering Service — 430 B Springfield Ave, Berkeley Heights, NJ 07922

    Location Insight

    • Map
    • Local Demand
    City
    Berkeley Heights
    County
    Union
    State
    New Jersey
    Longitude
    -74.4271751
    Latitude
    40.6798851

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    FAQs

    What type of property is this?
    Flex space - 2,750 SF available in Berkeley Heights, New Jersey.
    Where is this flex space located?
    The property is located at 1 Russo Place unit # 3 Berkeley Heights, NJ.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: 2,750 sq ft of available business space on a 2‑acre corner lot.; High‑visibility location across from the YMCA and a performing arts school.; Established business location with long‑term tenants (20+ and 10+ years).
    (732) 442-1400
    We can help!
    Listing Contact
    Carmen Schlesinger
    Learn More
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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
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