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    Oversized Garage in South Orange Title is generated by Realmo AI

    161 Church, South Orange, NJ 07079

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    For Sale
    $499,900

    Rare opportunity: large garage near South Orange Village center.

    Added:
    Jun 27, 2025
    Days on Market:
    330
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 161 Church

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    DOUGLASS HOLMES

    Listing agent DOUGLASS HOLMES

    Listing office HOWARD HANNA RAND REALTY, LIVINGSTON

    Listing date Jun 27, 2025

    Source Corcoran

    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 HOWARD HANNA RAND REALTY, LIVINGSTON

    HighLights

    • Extremely rare oversized garage opportunity in the heart of South Orange Village.
    • Potential to house 6‑10 vehicles inside plus approximately 20 additional vehicles outside within the gates.
    • Located within a redevelopment zone, offering potential for residential redevelopment.
    • Grandfathered in for current use as a working facility (previously a woodworking shop and car storage).
    • Moments from NYC train station.
    • Ample office, storage, and loft space.

    Overview

    This oversized garage is located behind gates, moments from the center of South Orange Village. The large garage could house between 6 and 10 vehicles, with parking space outside the gates for approximately 20 additional vehicles. The property includes office, storage, and loft space. Currently used as a woodworking shop, it was previously a storage facility for a local car dealership. The property is grandfathered in to continue its current use and is located within a redevelopment zone, moments from the NYC train station. The stand-alone building, located in the rear of the property, measures approximately 35 feet by 57 feet and sits on a 0.131-acre lot. The structure features high ceilings and is located on a dead-end street. Heating is provided by a wood-burning stove. Public water, natural gas lines, and sewer are available at street level. There is no water supply, air conditioning, or plumbing in the building. The property can be redeveloped into residential homes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Comerford John T Law Firm

    Suggested Use

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

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

    Similar Places Nearby

    • Extra Space Storage — 317 Valley St, South Orange, NJ 07079
    • AAA Manhattan Moving Company — 152 montague pl, south orange, nj 07079

    Location Insight

    • Map
    • Local Demand
    City
    South Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2646
    Latitude
    40.745

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    FAQs

    What type of property is this?
    Warehouse - Rare opportunity: large garage near South Orange Village center.
    Where is this warehouse located?
    The property is located at 161 Church South Orange, NJ.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Extremely rare oversized garage opportunity in the heart of South Orange Village.; Potential to house 6‑10 vehicles inside plus approximately 20 additional vehicles outside within the gates.; Located within a redevelopment zone, offering potential for residential redevelopment.
    We can help!
    Listing Contact
    DOUGLASS HOLMES
    Learn More
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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.

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