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    Professional Office Space For Rent Title is generated by Realmo AI

    573 VALLEY RD Suite 5, Wayne, NJ 07470

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    Claim this Listing
    For Lease
    $3,350/Mo $2 SF/Yr (calc)

    Commercial - Wayne Twp., NJ

    Property size:
    18,334 SF
    Lot size:
    1.58 Acres
    Added:
    Feb 25, 2026
    Days on Market:
    81
    Last Refresh:
    May 17 at 1:06 pm

    Property Features for 573 VALLEY RD Suite 5

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commerical
    Rooms
    Basement
    Parking features
    Parking Lot
    Basement Y/N
    1
    Standard status
    Active
    Size
    18,334 SF
    Lot size
    1.58 Acres

    Taxes and HOA fees

    Tax Year
    2018
    Tax Annual Amount
    44594

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Flooring type
    Carpet
    Building materials
    Block, Brick
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    MICHAEL SCHIFF
    MICHAEL SCHIFF

    Listing agent MICHAEL SCHIFF

    Listing office KELLER WILLIAMS - NJ METRO GROUP 237 LORRAINE AVE, Montclair, NJ

    Listing date Feb 25, 2026

    MLS# 4011399 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.

    HighLights

    • Prime location across from Valley Ridge Shopping Center (Whole Foods).
    • Landlord pays all utilities.
    • Currently vacant, offering immediate occupancy.
    • Abundant parking available.
    • Convenient access to major highways: Rt 3, Rt 46, GSP, Rt. 23.
    • Space is sub‑dividable, offering flexible options.

    Overview

    This 1,900 sq ft professional office space is in excellent condition and is currently configured with 2 open areas and 4 offices. The space features available storage in the basement at an extra charge and abundant parking. Men's and women's bathrooms are located on the same floor off the hallway. The property is conveniently located across from Valley Ridge Shopping Center, which includes Whole Foods and several eateries, a dry cleaner, a post office, and support retail. The location offers high traffic and is close to major highways including Route 3, Route 46, the Garden State Parkway, and Route 23. It is 4.5 miles to Willowbrook Mall, 6 miles to Essex County Airport, and 20 miles to New York City. The property is currently vacant. The landlord pays all utilities. Free rent and work are negotiable. No smoking is allowed in the building or anywhere on the property. The space is subdividable into a 1250 sq ft area at $2250 or a 650 sq ft area at $1100. The property is zoned commercial and sits on a 1.58-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wayne D Robertson ... Counselor John Agnello Photography ... Photography Service MCB-DME Medical Supply Store Matthew Chin Dental Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.22835
    Latitude
    40.93144

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    FAQs

    What type of property is this?
    Office units - 1,900 Sq Ft office space in excellent condition.
    Where is this office units located?
    The property is located at 573 VALLEY RD Suite 5 Wayne, NJ.
    What is the lease rate?
    The lease rate is $3,350 /Mo.
    What are key features of this property?
    This property features: Prime location across from Valley Ridge Shopping Center (Whole Foods).; Landlord pays all utilities.; Currently vacant, offering immediate occupancy.
    (973) 783-7400
    We can help!
    Listing Contact
    MICHAEL SCHIFF
    MICHAEL SCHIFF
    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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    573 VALLEY RD, Suite 5, Wayne Twp., NJ 07470-3511
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