Add Listing
    For Sale
    • 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

    496 Nye Ave Irvington, NJ 07111

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $480,000

    Two houses on a corner lot with separate utilities.

    Lot size:
    0.08 Acres

    Property Features for 496 Nye Ave

    General Information

    Property type
    Multi Family
    Standard status
    Pending
    Lot size
    0.08 Acres

    Building Details

    Year built
    9999

    We can help!

    Listing Contact
    Curtis George
    Source: Elliman

    Listing Agent: Curtis George

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

    Learn more

    Overview

    Corner Lot Multifamily Investment Opportunity

    This property features two houses situated on a corner lot, both equipped with basements and separate utilities. This presents an opportunity for investment, with potential for either a flip or passive income generation. The property is sold in as-is condition, and the buyer is responsible for obtaining all required certificates.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Irvington
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2268584
    Latitude
    40.7236677

    Nearby Similar for Sale

    • New
      $399,900
      2,300 SF

      Mixed-Use Investment Opportunity in Irvington

      Mixed-use property with commercial storefront and residential apartment.
      357 16Th Ave, Irvington, NJ 07111
      View Details
    • $699,999
      Pending

      Irvington Three-Family Home For Sale

      Three-unit property with spacious apartments and modern amenities in Irvington.
      52 Tremont Ter, Irvington, NJ 07111
      View Details
    • $850,500
      1,100 SF

      New Irvington Multi-Family Income Property

      Newly built, 3-level multi-family property with modern luxury and income potential.
      39 Ellis Ave, Irvington, NJ 07111
      View Details
    • $599,000
      Pending

      Irvington Twp. Multi-Family Property

      Multi-family property in Irvington Twp., NJ, totaling 3,413 square feet.
      65 Delmar Pl, Irvington, NJ 07111
      View Details
    • New
      $599,001
      2.00 Acres

      Irvington Triplex with Garage Parking

      Meticulously maintained multi-family home with income potential and parking.
      922 Grove St, Irvington, NJ 07111
      View Details
    • $580,000
      Pending

      Well-Maintained Multi-Family Home

      Spacious two-unit property with investment potential in Irvington Twp., NJ.
      142 Delmar Pl, Irvington, NJ 07111
      View Details
    • New
      $665,000
      Pending

      Irvington Three-Family Property with Vacancy

      Three-unit property in Irvington Twp. delivered vacant at closing.
      240 Ellis Ave, Irvington, NJ 07111
      View Details
    • $1,799,900
      7,625 SF

      Prime Corner Commercial Investment Opportunity

      Income-producing property with six fully leased retail storefronts in Irvington.
      721-731 Chancellor Ave, Irvington, NJ 07111
      View Details
    • New
      $599,988
      0.06 Acres

      Irvington Two-Family Turnkey Investment

      Turnkey two-family home in Irvington, ready for immediate income.
      157 Myrtle Ave, Irvington, NJ 07111
      View Details
    • $649,900
      2,573 SF

      Spacious Irvington Multi-Family Residence

      Multi-unit property in Irvington with income potential and convenient location.
      100 Harrison Pl, Irvington, NJ 07111
      View Details
    • $835,000
      Pending

      New Construction Duplex in Irvington

      Modern duplex with tax abatement and builder's warranty.
      118 19Th Ave, Irvington, NJ 07111
      View Details
    • $749,900
      0.06 Acres

      Multi-Family Home in Irvington Twp.

      Fully rented two-family home with finished ground floor.
      613 20Th St, Irvington, NJ 07111
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Two houses on a corner lot with separate utilities.
    Where is this multifamily property located?
    The property is located at 496 Nye Ave Irvington, NJ.
    What is the asking price?
    The asking price for this property is $480,000.
    What are key features of this property?
    This property features: - Two houses on a corner lot, presenting a unique opportunity.; - Both houses feature basements, offering extra space.; - Separate utilities for each house.
    (973) 337-5170
    Request Owner's contact information
    496 Nye Ave Irvington, NJ 07111
    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.
    496 Nye Ave
    Irvington, NJ 07111
    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
    496 Nye Ave Irvington, NJ 07111
    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
    Curtis George
    (973) 337-5170
    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!