Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    615 Franklin Tpke Ridgewood, NJ 07450

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $20 SF/Yr ($17,980 /Mo)

    Highly visible office or medical space in desirable Ridgewood location.

    Property size:
    10,788 SF
    Lot size:
    10,788 SF

    Property Features for 615 Franklin Tpke

    General Information

    Size
    10,788 SF

    We can help!

    Listing Contact
    Darren Lizzack, MSRE
    Source: Naiglobal

    Listing Agent: Darren Lizzack, MSRE

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

    Learn more

    Overview

    Prime Ridgewood Office/Medical Space

    Located in the Ridgewood area, 615 Franklin Turnpike offers visibility and access to Route 17 and the Garden State Parkway. This location is suited for businesses seeking office or medical space, providing proximity to a diverse clientele and commercial activity. It is located minutes from downtown Ridgewood, with access to restaurants, retail shops, and professional services.
    Location Intelligence

    Current Use by Public Records

    Santoli Joseph R Attorney Larissa E. Labay, ... Psychologist Cheryl M. Sterling, ... Psychologist John Dominianni - State ... Insurance Agency Eric Bentolila M.D., ... Obstetrician-Gynecologist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgewood
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0952278
    Latitude
    40.9884552

    Nearby Similar for Lease

    • $2,660 /Mo
      39,640 SF

      Ridgewood Village Ground-Floor Office Space

      Bright, visible office space with flexible layout in Ridgewood Village.
      555 Goffle Rd, Ridgewood, NJ 07450
      View Details
    • $980 /Mo
      39,640 SF

      First-Floor Office Suite in Ridgewood

      Efficient 511 SF office suite with parking and kitchenette.
      555 Goffle Rd, Ridgewood, NJ 07450
      View Details
    • $1,600 /Mo
      39,640 SF

      Updated Office Space in Ridgewood

      Updated 732 sqft office space in Ridgewood Village, NJ.
      555 Goffle Rd, Ridgewood, NJ 07450
      View Details
    • Contact for pricing
      9,242 SF

      Ridgewood Medical Office Suite

      Professionally upgraded medical office suite in Ridgewood, NJ.
      265 Ackerman Ave, Ridgewood, NJ 07450
      View Details
    • $6,500 /Mo
      1,750 SF

      Renovated Commercial Space, Parking Included

      Turnkey Ridgewood commercial space with parking, ready for immediate occupancy.
      17 Godwin Ave, Ridgewood, NJ 07450
      View Details
    • $2,800 /Mo

      Ridgewood First Floor Apartment

      First floor apartment near downtown Ridgewood with updated features.
      252 Highwood Ave, Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Retail Space Near Ridgewood Station

      Retail space with parking in downtown Ridgewood near train.
      240 E Ridgewood Ave, Ridgewood, NJ 07450
      View Details
    • Contact for pricing
      2,500 SF

      Retail Space in Downtown Ridgewood

      Prime retail space with parking in bustling downtown Ridgewood.
      230-262 E Ridgewood Ave, Ridgewood, NJ 07450
      View Details
    • Contact for pricing
      3,905 SF

      Ridgewood Medical Office Space For Lease

      Prime Medical Office, 3905 sq ft, 23 parking spaces
      536 Maple Ave, Ridgewood, NJ 07450
      View Details
    • Contact for pricing
      10,788 SF

      Ridgewood Medical Office Building

      Prime Medical Office Space Available
      615 Franklin Tpke, Ridgewood, NJ 07450
      View Details
    • $4,834 /Mo

      Renovated Office Space For Rent

      Remodeled office suite with parking and elevator access.
      145 Prospect St, Ridgewood, NJ 07450
      View Details
    • Contact for pricing
      2,500 SF

      Ridgewood Office Space Available Now

      2,500 SF office space suitable for daycare or medical use.
      584 State Rt 17, Ridgewood, NJ 07450
      View Details

    FAQs

    What type of property is this?
    Office space - Highly visible office or medical space in desirable Ridgewood location.
    Where is this office space located?
    The property is located at 615 Franklin Tpke Ridgewood, NJ.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: - Prime location in the highly desirable Ridgewood area.; - High visibility on Franklin Turnpike.; - Easy access to major roadways (Route 17 and Garden State Parkway).
    (201) 488-5800
    Request Owner's contact information
    615 Franklin Tpke Ridgewood, NJ 07450
    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.
    615 Franklin Tpke
    Ridgewood, NJ 07450
    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
    615 Franklin Tpke Ridgewood, NJ 07450
    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
    Darren Lizzack, MSRE
    (201) 488-5800
    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.