Add Listing
    For Lease
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    The Largest CRE Database in the US with Over 1 Million Listings

    2 North Avenue Cranford, NJ 07016

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $25 SF/Yr $31,250/Mo (calc)

    Office space for lease in downtown Cranford landmark building.

    Type:Office
    Property size:
    15,000 SF
    Added:
    Jan 27, 2026
    Days on Market:
    94
    Last Refresh:
    Apr 5 at 11:54 pm

    Property Features for 2 North Avenue

    General Information

    Standard status
    Active
    Size
    15,000 SF
    Property subtype
    Office

    Spaces For Lease

    at 2 North Avenue Contact us

    We can help!

    Listing Contact
    William Sitar Jr.
    William Sitar Jr.

    Listing agent William Sitar Jr.

    Listing office Sitar Realty Company - Corporate

    Listing date Jan 27, 2026

    Source Sitarcompany

    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 Sitar Realty Company - Corporate

    Overview

    Downtown Cranford Landmark Office Space

    Office space is available for lease in a landmark building situated in downtown Cranford, at the corner of North Avenue West (Route 28) and North Union Avenue. Located in the heart of the downtown area, the property is directly across the street from the Cranford train station, offering convenient access to the Garden State Parkway. The building features hardwood floors, exposed brick, and an open plan layout, and is elevatored. Wells Fargo is located on the ground floor. The property is zoned B-1 and is adjacent to a municipal parking lot. The rental rate does not include tenant electric, which is estimated to be $2.00 per square foot. The property has a size of 15000 square feet. Tenant is responsible for utilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Cranford
    County
    Union
    State
    New Jersey
    Longitude
    -74.3044
    Latitude
    40.6559

    Nearby Similar for Lease

    • $14 SF/Yr

      Versatile Commercial Space Near Transportation

      Adaptable spaces suitable for various professional or educational purposes.
      201 Lincoln Ave, Cranford Twp., NJ 07016-2909
      View Details
    • Contact for pricing

      NJ, Cranford - Jackson Dr

      20 Jackson Dr, Cranford, NJ 07016
      View Details
    • Sponsored
      Contact for pricing

      Cranford Business Park

      20 Commerce Dr, Unit 135, Cranford, NJ 07016
      View Details
    • $14 SF/Yr

      Versatile Space Near Cranford Business

      Rental opportunity near NYC transit, downtown, and major highways.
      201 Lincoln Ave, Cranford Twp., NJ 07016
      View Details
    • $3,500/Mo

      Refined Office Suite in Cranford

      Premier downtown office space with parking and convenient access.
      105 Miln Street, Cranford Twp., NJ 07016
      View Details
    • $2,500/Mo

      Boutique Retail Space Available

      Boutique retail space with private office and parking.
      4 Centennial Ave, Cranford Twp., NJ 07016
      View Details
    • $1,700/Mo

      Cranford Office Space For Rent

      Second floor office space with open floor plan available.
      109 South Ave West, Cranford Twp., NJ 07016
      View Details
    • $2,700/Mo

      Cranford Professional/Doctors Office Building

      Prime office space in Cranford's downtown business district.
      198 North Ave E, Cranford Twp., NJ 07016
      View Details
    • Contact for pricing

      Industrial/Flex Space on North Avenue

      9,000 SF industrial/flex space for lease in Cranford, NJ.
      410-450 North Avenue East, Cranford, NJ 07016
      View Details
    • Contact for pricing

      Industrial/Flex Space on North Avenue

      9,000 SF industrial/flex space for lease in Cranford, NJ.
      410-450 North Avenue East, Cranford, NJ 07016
      View Details
    • Contact for pricing

      Cranford Office Space Sublease

      Office space available for sublease in Cranford, New Jersey.
      6 Commerce Dr, Cranford, NJ 07016
      View Details
    • $30 SF/Yr

      Downtown Cranford Office Space Available

      First floor office space for rent in downtown Cranford.
      186 North Ave, Cranford Twp., NJ 07016
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for lease in downtown Cranford landmark building.
    Where is this office units located?
    The property is located at 2 North Avenue Cranford, NJ.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Premier location directly across from Cranford train station in the heart of downtown.; Landmark 'trophy' building.; Open plan with hardwood floors and exposed brick.
    (732) 283-9000
    We can help!
    Listing Contact
    William Sitar Jr.
    William Sitar Jr.
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    2 North Avenue, Cranford, NJ 07016

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!