Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    154 Eastern Pkwy Irvington, NJ 07111

    Sponsored
    For Sale
    $6,000,000

    Commercial - Irvington Twp., NJ

    Property size:
    37,804 SF
    Days on Market:
    39
    Last Refresh:
    Jan 24 at 6:06 pm

    Property Features for 154 Eastern Pkwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    A4
    Rooms
    Basement
    Basement Y/N
    1
    Size
    37,804 SF

    Utilities

    Cooling system
    Multi Units

    Building Details

    Floors in Building
    2
    Number of units
    1
    Building materials
    Block, Brick
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    FELICIA M. HANKERSON

    Real Broker LLC

    Listing agent FELICIA M. HANKERSON (855) 450-0442

    Listing date Dec 17, 2025

    MLS# 3988067 Listing URL

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

    Learn more

    Property Insight Report

    Overview

    Irvington Development Site with Potential

    This property in Irvington offers a development opportunity with nearly an acre (0.97 acres) of 4-A zoned real estate. Currently operating as a lounge and entertainment venue, the site includes a 13,900 square foot building on a 37,804 square foot lot with 100 parking spaces. The structure also features an additional 5,000 square feet of underutilized storage/function space, suitable for conversion into rentable area or expanded use. The zoning allows for potential multifamily, mixed-use, religious, event, or commercial development. The flat, accessible lot is well-located for redevelopment and offers high visibility and commuter convenience, being minutes from the Garden State Parkway. The property is a bundle package of 4 lots and one 2 family building consisting of 154 Eastern Pkwy, 411-421 16th Ave, 405 16th Ave, and 403 16th Ave.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cricket Club Entertainment ... Banquet Hall

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Irvington
    County
    Essex
    State
    New Jersey
    Longitude
    -74.216
    Latitude
    40.73909

    Nearby Similar for Sale

    • $835,000
      Pending

      New Construction Duplex in Irvington

      Modern duplex with spacious units, garage, and convenient location.
      118 19Th Ave, Irvington, NJ 07111
      View Details
    • $699,999
      2,520 SF

      Irvington Three-Family Home For Sale

      Three-unit property with spacious apartments and modern amenities in Irvington.
      52 Tremont Ter, Irvington, NJ 07111
      View Details
    • New
      $580,000
      0.09 Acres

      Well-Maintained Multi-Family Home

      Spacious two-unit property with investment potential in Irvington Twp., NJ.
      142 Delmar Pl, Irvington, NJ 07111
      View Details
    • $665,000
      0.11 Acres

      Irvington Multi-Family Property For Sale

      Three-unit property in Irvington Twp. with separate utilities and parking.
      240 Ellis Ave, Irvington, NJ 07111
      View Details
    • $825,000
      3,252 SF

      Irvington Multi-Family Home For Sale

      Three-story, 12-bed, 6-bath multi-family home in Irvington Twp., NJ.
      420 21St St, Irvington, NJ 07111
      View Details
    • $599,000
      0.07 Acres

      Renovated Multi-Family Home in Irvington

      Renovated two-family home with modern finishes and strong rental appeal.
      112 University Pl, Irvington, NJ 07111
      View Details
    • New
      $649,999
      0.06 Acres

      Renovated Income-Producing Multi-Family Property

      Turn-key, fully occupied 3-unit property with 8 bedrooms and 3 bathrooms.
      97 Hopkins Pl, Irvington, NJ 07111
      View Details
    • $719,900
      Pending

      Multi-Family Home in Irvington Twp.

      Well-maintained two-family home with modern living spaces and convenient location.
      487 South 20Th St, Irvington, NJ 07111
      View Details
    • $650,000
      Pending

      Renovated Two-Family Home in Irvington

      Modern, renovated two-family home with income potential and exceptional convenience.
      243 Ellis Ave, Irvington, NJ 07111
      View Details
    • New
      $549,000

      Irvington Two-Family Home For Sale

      Well-maintained two-family home with income potential in Irvington, New Jersey.
      155 Myrtle Ave, Irvington, NJ 07111
      View Details
    • New
      $449,000

      Irvington Two-Family Home with Potential

      Two-family home in Irvington, NJ, awaiting renovation.
      12 Garwood Pl, Irvington, NJ 07111
      View Details
    • $920,000
      Pending

      Renovated 6-Family Investment Property

      Fully renovated 6-family property with high cap rate in prime location.
      3 May St, Irvington, NJ 07111
      View Details

    FAQs

    What type of property is this?
    Commercial land - High-traffic Irvington development site with licensing opportunities.
    Where is this commercial land located?
    The property is located at 154 Eastern Pkwy Irvington, NJ.
    What is the asking price?
    The asking price for this property is $6,000,000.
    What are key features of this property?
    This property features: - High-traffic location in the heart of Irvington with 4-A zoning, ideal for redevelopment.; - Large .97 acre (37,804 SF) lot, flat and accessible, suitable for various development projects.; - Existing 13,900 SF building currently operating as a lounge/entertainment venue.
    (855) 450-0442
    Request Owner's contact information
    154 Eastern Pkwy Irvington, NJ 07111
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    154 Eastern Pkwy
    Irvington, NJ 07111
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    154 Eastern Pkwy Irvington, NJ 07111
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    FELICIA M. HANKERSON
    (855) 450-0442
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.