Flexible Office
For Sale
$2,600,000
670 Bergen Blvd, Ridgefield, NJ 07657
For-sale office building with direct highway access and nearby NJ Transit bus service to Midtown Manhattan.
Property Size9,000 SF
Price / SF$288.89
Days on Market115
Property Features for 670 Bergen Blvd
General Information
Standard status
Active
Size
9,000 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
Near-Term Rollover = Maximum Flexibility 75%+ of leases rolling in ~2 years, giving an owner-user or investor immediate control to occupy, re-lease, or reposition the asset.
Below-Market Rents Drive Upside In-place rents sit below market, creating a clear path to grow NOI through rent resets and conversion to NNN leases upon rollover.
Dual-Track Buyer Appeal Ideal for owner-users seeking a headquarters opportunity or value-add investors looking to stabilize and create long-term income.
Building Details
Building Size
9,000 SF
Year Built
2004
Listed By:
Chris Gerena · License #License(s): NJ: 1864309
(201) 742-6173
Source:
Marcusmillichap
Added: May 14
Changed: Sep 4
Last Checked: Sep 5 at 3:52AM
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 Chris Gerena
Investment Insights
Based on property information with market context.
670 Bergen Boulevard is a for-sale office property with approximately 9,000 square feet of space, offering flexibility for prospective owner-users or investors. The building’s configuration is well-suited for tenants looking for a customizable workplace within a traditional office footprint.
The property is positioned along an accessible corridor with direct highway access and NJ Transit bus service to Midtown Manhattan, supporting convenient regional connectivity.
Additional details on unit mix, current occupancy, and lease terms are available upon request.
The property is positioned along an accessible corridor with direct highway access and NJ Transit bus service to Midtown Manhattan, supporting convenient regional connectivity.
Additional details on unit mix, current occupancy, and lease terms are available upon request.
Key Highlights
- Office building built in 2004
- Direct highway access along a highly accessible corridor
- Nearby NJ Transit bus service to Midtown Manhattan
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$137,700
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,754,000
$2.8M
Cap Rate 7%
$1,967,143
$2.0M
Cap Rate 9%
$1,530,000
$1.5M
Market Conditions
NOI Build-Up for 9,000 SF
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.
Gross rent
$270.0K $30.00/SF
− Vacancy
−$86.4K −$9.60/SF
EGI
$183.6K $20.40/SF
− OpEx
−$45.9K −$5.10/SF
NOI
$137.7K $15.30/SF
Area
Bergen County, NJ
Vacancy
32.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,754,000
Cap Rate 7%
$1,967,143
Cap Rate 9%
$1,530,000
Alternative Uses
Best Use
Office B
$1.97M
$1.72M – $2.30M
NOI $137,700 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,506 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,832
Businesses Nearby
Explore this area
Business Placement
Demographics for 07657, NJ
11,473
Population
4,192
Households
2.7
Avg Household Size
41
Median Age
47%
College-Educated
93%
High-School Grad
2.5 sq mi
ZIP Area
4,589
Density / Sq Mi
$115,676
Median Household Income
$59,044
Median Earnings
$1,935
Median Rent
$609,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - For-sale office building with direct highway access and nearby NJ Transit bus service to Midtown Manhattan.
Where is this office building located?
The property is located at 670 Bergen Blvd Ridgefield, NJ.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Office building built in 2004; Direct highway access along a highly accessible corridor; Nearby NJ Transit bus service to Midtown Manhattan
