Teaneck Office/Flex Building For
For Sale
$2,900,000
111 Galway Pl, Teaneck, NJ 07666
Spacious office/flex building in high-traffic Teaneck location.
Property Size16,000 SF
Lot Size0.86 Acres
Price / SF$181.25
Days on Market1068
Property Features for 111 Galway Pl
General Information
Standard status
Active
Size
16,000 SF
Lot size
0.86 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$47,746
Amenities
Central air
Central Air Cooling
Flat Roof
Forced Hot Air Heating
Multi-Zone Cooling
Parking Lot-Exclusive
Building Details
Year Built
1966
Listing Agency:
RE/MAX SELECT
(201) 337-5555
Listed By:
THOMAS RUSSO · License #0896342
Source:
Corcoran
Added: Sep 7, 2023
Changed: Aug 8
Last Checked: Aug 8 at 6:12AM
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 RE/MAX SELECT
Investment Insights
Based on property information with market context.
Located at 111 Galway Place in Teaneck, NJ, this expansive office/flex building offers a strategic and high-traffic location. The property contains 16,000 square feet of versatile space with high ceilings and easy access to major highways. It is suitable for a range of industries and development projects. The property is zoned L1.
Key Highlights
- Strategic, high‑traffic location for maximum business exposure.
- Versatile office/flex building suitable for various industries.
- Easy access to major highways.
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
$244,800
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
8.44%
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%
$4,896,000
$4.9M
Cap Rate 7%
$3,497,143
$3.5M
Cap Rate 9%
$2,720,000
$2.7M
Market Conditions
NOI Build-Up for 16,000 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
$480.0K $30.00/SF
− Vacancy
−$153.6K −$9.60/SF
EGI
$326.4K $20.40/SF
− OpEx
−$81.6K −$5.10/SF
NOI
$244.8K $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%
$4,896,000
Cap Rate 7%
$3,497,143
Cap Rate 9%
$2,720,000
Alternative Uses
Best Use
Office B
$3.50M
$3.06M – $4.08M
NOI $244,800 @ 7.0% cap · market cap 8.44%
Second Best
Flex RnD
$3.02M
$2.64M – $3.52M
NOI $211,162 @ 7.0% cap · market cap 7.28%
Theoretical Best
Office A
$4.18M
$3.66M – $4.87M
NOI $292,454 @ 7.0% cap · market cap 10.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 07666, NJ
41,246
Population
13,851
Households
3
Avg Household Size
41
Median Age
54%
College-Educated
93%
High-School Grad
6.0 sq mi
ZIP Area
6,874
Density / Sq Mi
$134,311
Median Household Income
$59,144
Median Earnings
$1,850
Median Rent
$496,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Office space - Spacious office/flex building in high-traffic Teaneck location.
Where is this office space located?
The property is located at 111 Galway Pl Teaneck, NJ.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Strategic, high‑traffic location for maximum business exposure.; Versatile office/flex building suitable for various industries.; Easy access to major highways.
