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    Wanaque Retail Investment Opportunity Title is generated by Realmo AI

    365 Ringwood Ave, Wanaque, NJ 07465

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    Claim this Listing
    For Sale
    $299,000

    Business zoned property on high traffic Ringwood Avenue.

    Type:Commercial/Industrial
    Property size:
    1,001 SF
    Lot size:
    2.00 Acres
    Price / SF:
    $298/SF
    Added:
    Feb 9, 2024
    Days on Market:
    843
    Last Refresh:
    May 20 at 2:37 am

    Property Features for 365 Ringwood Ave

    General Information

    Standard status
    Active
    Size
    1,001 SF
    Lot size
    2.00 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    NEKIJE RIZVANI

    Listing agent NEKIJE RIZVANI

    Listing office KELLER WILLIAMS VILLAGE SQUARE

    Listing date Feb 9, 2024

    Source Exitrealty

    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 KELLER WILLIAMS VILLAGE SQUARE

    HighLights

    • Business zoned 2‑acre property on high traffic/visibility Ringwood Ave.
    • Includes a one‑story building (approx. 1,001 sq ft) suitable for business operations.
    • Sewer permit hook up included (valued at $10K per seller).
    • Business and equipment can be included in the sale.
    • Municipal water and septic system (sewer available).
    • Conveniently located near NYC bus line.

    Overview

    This business-zoned property is situated on Ringwood Avenue in Wanaque, offering high traffic and visibility. The 2-acre lot includes a one-story building and a shed, complemented by 12 parking spaces. The building, approximately 1,001 square feet, features a dining room, kitchen, two storage rooms, and a half bath. The property benefits from municipal water and septic system, with sewer access available. The lot has a frontage of 200 feet, with about a quarter of the property being level and the remaining three-quarters consisting of rock ridge, offering potential for expansion. The business and equipment can be included in the sale. The property is located near NYC bus routes. A sewer permit hook up is included with the sale.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $21.6k $21.60
    − Vacancy −$1.2k −$1.21
    EGI $20.4k $20.39
    − OpEx −$5.1k −$5.10
    NOI $15.3k $15.29
    1,001 SF · lease $21.60/SF/yr · vacancy 5.60% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $218.7K
    $191.4K – $255.1K (±1% cap)
    NOI $15,308 @ 7.0% cap · market cap 5.12%
    Second Best
    Retail
    $204.1K
    $178.6K – $238.1K (±1% cap)
    NOI $14,288 @ 7.0% cap · market cap 4.78%
    Theoretical Best
    Office A
    $261.4K
    $228.7K – $305.0K (±1% cap)
    NOI $18,297 @ 7.0% cap · market cap 6.12%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Wanaque
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.2852
    Latitude
    41.0612

    FAQs

    What type of property is this?
    Storefront property - Business zoned property on high traffic Ringwood Avenue.
    Where is this storefront property located?
    The property is located at 365 Ringwood Ave Wanaque, NJ.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: Business zoned 2‑acre property on high traffic/visibility Ringwood Ave.; Includes a one‑story building (approx. 1,001 sq ft) suitable for business operations.; Sewer permit hook up included (valued at $10K per seller).
    (551) 206-6698
    We can help!
    Listing Contact
    NEKIJE RIZVANI
    Request Owner's contact information
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    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
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    365 Ringwood Ave, Wanaque Boro, NJ 07465
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