Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • 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

    259-279 Morris Ave Springfield, NJ 07081

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Space available for retail, restaurant, medical, and office tenants.

    Property size:
    7,000 SF
    Lot size:
    1.43 Acres

    Property Features for 259-279 Morris Ave

    General Information

    Size
    7,000 SF
    Lot size
    1.43 Acres

    We can help!

    Listing Contact
    Steve Battista
    Steve Battista
    Source: Moodyscre

    Listing Agent: Steve Battista

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

    Learn more

    Overview

    Retail, Restaurant, Medical, Office Space

    This property offers space suitable for retail, restaurant, medical, and office tenants. Outdoor dining areas are available for restaurants. The property has a size of 7,000 square feet and is located at 259-279 Morris Ave, Springfield, NJ.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.3126533
    Latitude
    40.7112134

    Nearby Similar for Lease

    • $2,500 /Mo
      11,000 SF

      Renovated Office Suite For Rent

      Move-in ready, furnished or unfurnished office suite with utilities included.
      11 Dundar Rd, Springfield, NJ 07081
      View Details
    • $3,500 /Mo

      Renovated Townhouse with Finished Basement

      Sun-soaked 2 bed, 2.5 bath townhouse near top amenities.
      85A Troy Dr, Springfield, NJ 07081
      View Details
    • Contact for pricing
      3,000 SF

      Springfield NJ Medical Office Space

      Prime Medical Office, 3,000 SF Available
      175 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      4,152 SF

      Class A Office Space Available

      Class A office space for lease in Union County, NJ.
      899 Mountain Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      1,800 SF

      Retail/Office Space in Springfield, NJ

      1,800 SF retail/office space available for lease.
      226 Morris Ave, Springfield, NJ 07081
      View Details
    • $19 SF/Yr
      77,568 SF

      Flex Space Available For Lease

      77,568 square foot flex space available for lease.
      50 Lawrence Rd, Springfield, NJ 07081
      View Details
    • $2,000 /Mo

      Renovated Office Suite For Rent

      Move-in ready office suite with utilities included and convenient location.
      26 Millburn Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      5,321 SF

      Office Building Near Transportation

      Office building with parking and convenient access to public transit.
      140 Mountain Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      4,921 SF

      Warehouse Lot For Rent

      Approved building lot for warehouse construction.
      100 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      2,581 SF

      Renovated Springfield Commercial Space Available

      Newly renovated commercial space with drive-thru access in Springfield, NJ.
      52 Millburn Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      21,421 SF

      Accessible Office Space in Springfield

      Office space with access to major roadways and public transit.
      180 Riverside Dr, Springfield, NJ 07081
      View Details
    • $28 SF/Yr
      1,510 SF

      Retail Space Available For Rent

      Retail space for rent featuring vanilla box delivery.
      242 Mountain Ave, Springfield, NJ 07081
      View Details

    FAQs

    What type of property is this?
    Retail space - Space available for retail, restaurant, medical, and office tenants.
    Where is this retail space located?
    The property is located at 259-279 Morris Ave Springfield, NJ.
    What are key features of this property?
    This property features: - Suitable for retail, restaurant, medical, and office use; - Outdoor dining areas available for restaurants
    (908) 668-9600
    Request Owner's contact information
    259-279 Morris Ave Springfield, NJ 07081
    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.
    259-279 Morris Ave
    Springfield, NJ 07081
    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
    259-279 Morris Ave Springfield, NJ 07081
    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
    Steve Battista
    Steve Battista
    Real Estate License ID: 0344894
    (908) 668-9600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.