Office Building with Skylit
For Sale
Contact for pricing
1000 Sylvan Ave, Englewood Cliffs, NJ 07632
A 66,068 SF office building featuring a skylit atrium, ample parking, and largely flexible interior space.
Property Size66,068 SF
Price / SF$348.13
Days on Market66
Property Features for 1000 Sylvan Ave
General Information
Standard status
Active
Size
66,068 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Listing Agency:
Prominent Properties
Listed By:
Prominent Properties Commercial · License #NJ00000
Source:
Crexi
Added: Jul 2
Changed: Sep 3
Last Checked: Sep 1 at 9:56AM
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 Prominent Properties
Investment Insights
Based on property information with market context.
This office building offers a large, versatile floorplate with most interior walls removed to maximize flexibility, while executive offices remain in place. The building includes a striking atrium with skylights that bring abundant natural light throughout the interior.
The property is located at 1000 Sylvan Avenue in Englewood Cliffs, positioned on the Billion Dollar Mile with easy access to major highways and the surrounding business community.
With ample parking and an executive office component alongside a reconfigurable interior layout, the building is designed to support a range of office uses within a prominent setting.
The property is located at 1000 Sylvan Avenue in Englewood Cliffs, positioned on the Billion Dollar Mile with easy access to major highways and the surrounding business community.
With ample parking and an executive office component alongside a reconfigurable interior layout, the building is designed to support a range of office uses within a prominent setting.
Key Highlights
- 66,068 SF office building at 1000 Sylvan Avenue in Englewood Cliffs, NJ
- Atrium with skylights and abundant lighting
- Ample parking on site
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,010,840
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$20,216,800
$20.2M
Cap Rate 7%
$14,440,571
$14.4M
Cap Rate 9%
$11,231,556
$11.2M
Market Conditions
NOI Build-Up for 66,068 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.98M $30.00/SF
− Vacancy
−$634.3K −$9.60/SF
EGI
$1.35M $20.40/SF
− OpEx
−$336.9K −$5.10/SF
NOI
$1.01M $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$20,216,800
Cap Rate 7%
$14,440,571
Cap Rate 9%
$11,231,556
Alternative Uses
Best Use
Office B
$14.44M
$12.64M – $16.85M
NOI $1,010,840 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.25M
$15.10M – $20.13M
NOI $1,207,617 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 07632, NJ
5,342
Population
2,029
Households
2.6
Avg Household Size
49
Median Age
77%
College-Educated
97%
High-School Grad
2.1 sq mi
ZIP Area
2,544
Density / Sq Mi
$222,192
Median Household Income
$99,537
Median Earnings
$3,501
Median Rent
$1,232,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - A 66,068 SF office building featuring a skylit atrium, ample parking, and largely flexible interior space.
Where is this office building located?
The property is located at 1000 Sylvan Ave Englewood Cliffs, NJ.
What is the asking price?
The asking price for this property is $23,000,000.
What are key features of this property?
This property features: 66,068 SF office building at 1000 Sylvan Avenue in Englewood Cliffs, NJ; Atrium with skylights and abundant lighting; Ample parking on site
