Add Listing
    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

    240 W Passaic St Maywood, NJ 07607

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office building with ample parking and mass transit access.

    We can help!

    Listing Contact
    Andrew Somple, Sior
    Source: Naiglobal

    Listing Agent: Andrew Somple, Sior

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

    Learn more

    Overview

    Office Building Near Route 17

    This two-story office building, totaling 18,240 square feet, is situated on a 1.07-acre lot and features an elevator. The building is fully air-conditioned and offers ample parking. Located one-half block from Route 17, the property provides excellent highway convenience. Curbside NJ Transit Bus mass transit is available on the same block. The property is located 1.6 miles and 6 miles from HUMC.
    Location Intelligence

    Current Use by Public Records

    Eileen Carmona Foster Care Service Suho Lee Dental Office Three Leaf Acupuncture, ... Medical Clinic Metropolitan Court Reporting ... Law Firm Singh Prabhjot DDS Dental Office

    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
    Maywood
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0687191
    Latitude
    40.9066895

    Nearby Similar for Lease

    • Contact for pricing
      18,240 SF

      Maywood Office Building For Rent

      Office building for lease, convenient location near Route 17.
      240 W Passaic St, Maywood, NJ 07607
      View Details
    • Contact for pricing
      3,994 SF

      Paramus Retail Destination

      Prime retail space in Bergen Town Center.
      83 W Spring Valley Ave, Maywood, NJ 07607
      View Details
    • Contact for pricing
      12,695 SF

      Maywood Multi-Tenant Office Building

      Three-story office building with parking near Bergen Town Center.
      25 E Spring Valley Ave, Maywood, NJ 07607
      View Details
    • Contact for pricing
      379,000 SF

      Maywood Warehouse and Distribution Space

      379,000 SF warehouse with 40' clear height available for lease.
      151 Nj-17, Maywood, NJ
      View Details
    • Contact for pricing

      Spacious Apartment in Maywood Home

      Inviting 2-bedroom, 1-bathroom first-floor apartment for rent.
      61 Ecentral Ave, Maywood, NJ 07607
      View Details
    • Contact for pricing

      Renovated One-Bedroom Apartment for Rent

      Recently renovated one-bedroom apartment with parking and storage available.
      479 Poplar Ave, Maywood, NJ 07607
      View Details
    • Contact for pricing
      18,240 SF

      Maywood, NJ Medical Office Space

      Prime Medical/Office Building, 2,311 SF Available
      240 Passaic St, Maywood, NJ 07607
      View Details
    • Contact for pricing
      6,960 SF

      Triboro Plaza Retail Space Available

      Prime Retail Space, 2,800 sq ft.
      95 Essex St, Maywood, NJ 07607
      View Details

    FAQs

    What type of property is this?
    Office building - Office building with ample parking and mass transit access.
    Where is this office building located?
    The property is located at 240 W Passaic St Maywood, NJ.
    What are key features of this property?
    This property features: - Excellent highway convenience: just a half block from Rt 17.; - Ample parking available on the lot.; - Curbside NJ Transit Bus mass transit access on the same block.
    (201) 488-5800
    Request Owner's contact information
    240 W Passaic St Maywood, NJ 07607
    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.
    240 W Passaic St
    Maywood, NJ 07607
    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
    240 W Passaic St Maywood, NJ 07607
    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
    Andrew Somple, Sior
    (201) 488-5800 (201) 478-7396
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!