Englewood Cliffs Corporate Office
For Sale
$23,000,000
1000 Sylvan, Englewood Cliffs, NJ 07632
Premier 66,000 SF office building on 5.39 acres.
Property Size66,000 SF
Lot Size5.39 Acres
Price / SF$348.48
Days on Market125
Property Features for 1000 Sylvan
General Information
Standard status
Active
Size
66,000 SF
Lot size
5.39 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$199,215
Amenities
Central Air Heating
Gas Heating
Listing Agency:
PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY-ENGLEWOOD CLIFFS
(201) 585-8080
Listed By:
YVONNE CHUNG
Source:
Corcoran
Added: Apr 15
Changed: Aug 16
Last Checked: Aug 16 at 6:00AM
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 SOTHEBY'S INTERNATIONAL REALTY-ENGLEWOOD CLIFFS
Investment Insights
Based on property information with market context.
This freestanding 66,000 SF office building is situated on approximately 5.39 acres along Sylvan Avenue in Englewood Cliffs, New Jersey. Originally designed for corporate headquarters, the property features expansive floor plates and a central atrium lobby. The flexible layout configurations are suitable for corporate offices, medical facilities, educational institutions, or repositioning/redevelopment. The property is located minutes from the George Washington Bridge, providing access to Manhattan and major Northern New Jersey highways. The building is in white-box condition, allowing for customization or redevelopment. On-site parking is available. The property is located within one of Bergen County’s commercial corridors, often referred to as the “Billion Dollar Mile”.
Key Highlights
- Premier corporate office property in the highly sought‑after Sylvan Avenue corridor.
- Excellent accessibility to Manhattan and Northern NJ highways via the George Washington Bridge.
- Significant redevelopment potential and flexible layout configurations.
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
$1,009,800
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%
$20,196,000
$20.2M
Cap Rate 7%
$14,425,714
$14.4M
Cap Rate 9%
$11,220,000
$11.2M
Market Conditions
NOI Build-Up for 66,000 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
−$633.6K −$9.60/SF
EGI
$1.35M $20.40/SF
− OpEx
−$336.6K −$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%
$20,196,000
Cap Rate 7%
$14,425,714
Cap Rate 9%
$11,220,000
Alternative Uses
Best Use
Office B
$14.43M
$12.62M – $16.83M
NOI $1,009,800 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.23M
$15.08M – $20.11M
NOI $1,206,374 @ 7.0% cap · market cap 5.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,237
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 - Premier 66,000 SF office building on 5.39 acres.
Where is this office building located?
The property is located at 1000 Sylvan 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: Premier corporate office property in the highly sought‑after Sylvan Avenue corridor.; Excellent accessibility to Manhattan and Northern NJ highways via the George Washington Bridge.; Significant redevelopment potential and flexible layout configurations.
