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    Class A Office Building Title is generated by Realmo AI

    1 Maynard Dr, Park Ridge, NJ 07656

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    Three-story Class A office building with on-site management.

    Type:Office
    Property size:
    139,000 SF
    Added:
    Nov 16, 2020
    Days on Market:
    2027
    Last Refresh:
    May 19 at 8:44 pm

    Property Features for 1 Maynard Dr

    General Information

    Standard status
    Active
    Size
    139,000 SF
    Property subtype
    Office

    Building Details

    Year Built
    1986

    Spaces For Lease

    at 1 Maynard Dr Contact us

    We can help!

    Listing Contact
    Jessica Curry, CCIM

    Listing agent Jessica Curry, CCIM License #NJ 0901110

    Listing office NAI James E. Hanson - Teterboro

    Listing date Nov 16, 2020

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of NAI James E. Hanson - Teterboro

    HighLights

    • 139,000 SF Class A building in a desirable location near major highways.
    • On‑site ownership and property management, ensuring responsive service.
    • Full‑service cafeteria with seating on two floors and WiFi.
    • Ample parking with 555 spaces (4:1000 ratio) and reserved parking.
    • Advanced infrastructure including a 750 kW diesel backup generator and fiber optic connectivity.
    • Attractive glass atrium with seating, pond/fountain & waterfall garden, and wooded picnic area.

    Overview

    This Class A office building offers 139,000 square feet across three stories. The property features on-site ownership and property management. Parking is available with 555 spaces, providing a ratio of 4 spaces per 1000 square feet, with reserved parking for key personnel. Security is enhanced by card-key access, and a digital interactive directory is available for visitors. The building includes a glass atrium with seating. A 750 kW diesel backup generator ensures continuous power. Fiber optic connectivity is available from multiple telecom providers. The building features a continuous window line. A full-service cafeteria with seating on two floors is open and offers WiFi service. Outdoor amenities include a pond/fountain and waterfall garden, as well as a wooded picnic area. The location is within walking distance of a Marriott Hotel, Lifetime Fitness & Spa, and a Wegmans-anchored shopping center. It is also within 1 mile of the Garden State Parkway and in close proximity to I-287, the NY State Thruway, and the Palisades Interstate Parkway. The Park Ridge/Montvale submarket provides a diverse mix of restaurants, shops, hotels, and daycare centers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kiewit Constructors Inc. Construction Company ONE MAYNARD DRIVE Real Estate Agency Northwestern Mutual Financial Advisor Words & Pictures Creative ... Advertising Agency Lexmark International Inc. Computer & Electronic Repair

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Park Ridge
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0618391
    Latitude
    41.0426854

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    FAQs

    What type of property is this?
    Office building - Three-story Class A office building with on-site management.
    Where is this office building located?
    The property is located at 1 Maynard Dr Park Ridge, NJ.
    What are key features of this property?
    This property features: 139,000 SF Class A building in a desirable location near major highways.; On‑site ownership and property management, ensuring responsive service.; Full‑service cafeteria with seating on two floors and WiFi.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jessica Curry, CCIM
    Real Estate License ID: NJ 0901110
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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.

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