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

    245 Monroe St Passaic, NJ 07055

    Sponsored
    For Sale
    Contact for pricing

    Affordable Passaic Investment Opportunity

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    366
    This exceptional commercial property, located at 245 Monroe Street in Passaic, New Jersey, presents a unique investment opportunity. Priced at $6,300, this property offers significant potential for various commercial uses. While the square footage is not currently specified, the property sits on a zero-acre lot, suggesting a compact footprint ideal for a smaller business or a strategic addition to an existing portfolio. The property type is classified as "Other," indicating flexibility in its potential applications. Its central Passaic location provides easy access to local amenities, transportation routes, and a diverse customer base. The absence of detailed square footage information necessitates an on-site inspection to fully assess the property's dimensions and layout. This presents a chance for a discerning investor to conduct due diligence and tailor the space to their specific commercial needs. Given the attractive price point and the property's strategic location, this represents a compelling investment opportunity in a vibrant New Jersey market. Interested parties are encouraged to schedule a viewing to explore the full potential of this unique commercial property. The lack of specified square footage should be considered when evaluating the property's suitability for intended use.

    Property Features for 245 Monroe St

    General Information

    Property type
    Other commercial real estate

    We can help!

    Listing Contact
    Helmuth Valdez

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Skin Care Clinic Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.12419
    Latitude
    40.8655

    Nearby Similar for Sale

    • $775,000
      0.07 Acres

      Spacious Multi-Family in Passaic City

      Oversized two-family property with income potential in a convenient location.
      25 Burgess Pl, Passaic, NJ 07055
      View Details
    • $629,900
      Pending

      Passaic City Multi-Family Home

      Multi-family home with garage, driveway, and backyard in Passaic City.
      35 7Th Ave, Passaic, NJ 07055
      View Details
    • $649,900

      Renovated Two-Family Home in Passaic

      Renovated two-family home with bonus rooms and modern amenities.
      20 Wickham St, Passaic, NJ 07055
      View Details
    • $159,900
      1,200 SF

      Established Flower Franchise for Sale

      Turnkey 1-800-Flowers franchise with warehouse and growth potential.
      343 Monroe St, Passaic, NJ 07055
      View Details
    • $159,900
      1,200 SF

      Established Flower Franchise For Sale

      Turnkey 1-800-Flowers franchise with warehouse and growth potential.
      343 Monroe St, Passaic, NJ 07055
      View Details
    • $1,250,000
      Pending

      Passaic City Income Opportunity

      Multifamily property with multiple units and garage in Passaic City.
      348 Montgomery St, Passaic, NJ 07055
      View Details
    • New
      $1,050,000
      7,500 SF

      Passaic Automotive Repair Facility

      Established auto repair facility with mechanic services and inspection capabilities.
      422 Monroe St, Passaic, NJ 07055
      View Details
    • $469,000
      Pending

      Passaic City Multi-Family Home

      Multi-family home with renovated bathrooms and new roof.
      44 3Rd St, Passaic, NJ 07055
      View Details
    • $549,900
      Pending

      Spacious Multi-Family in Passaic City

      Two-family house near downtown Passaic with potential for expansion.
      112 Washington Pl, Passaic, NJ 07055
      View Details
    • $650,000
      0.06 Acres

      Passaic City Multi-Family Opportunity

      Multi-family property in central Passaic City with high visibility.
      383 Broadway, Passaic, NJ 07055
      View Details
    • $799,000
      5,100 SF

      Versatile Office Building with OR Zoning

      5,100 sq ft office building with flexible zoning.
      111 Lexington Ave, Passaic, NJ 07055
      View Details
    • $1,250,000
      4,000 SF

      Passaic City Commercial Opportunity

      Commercial building in downtown Passaic City with retail and office spaces.
      51 Central Ave, Passaic, NJ 07055
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Affordable Passaic Investment Opportunity
    Where is this commercial real estate located?
    The property is located at 245 Monroe St Passaic, NJ.
    What is the asking price?
    The asking price for this property is $6,300.
    (866) 201-6210
    Request Owner's contact information
    245 Monroe St Passaic, NJ 07055
    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.
    245 Monroe St
    Passaic, NJ 07055
    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
    245 Monroe St Passaic, NJ 07055
    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
    Helmuth Valdez
    (866) 201-6210
    Learn more
    Google sign-in failed. Please try again or use another login method.