Add Listing
    For Lease
    • 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

    1637 Palisade Fort Lee, NJ 7024

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $4,300 /Mo

    Street-level retail/office space in a high-traffic location.

    Type:Commercial
    Added:
    Sep 29, 2024
    Days on Market:
    565
    Last Refresh:
    Apr 5 at 8:53 pm

    Property Features for 1637 Palisade

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    PAUL QI
    PAUL QI

    Listing agent PAUL QI

    Listing office REALTYLINE

    Listing date Sep 29, 2024

    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 REALTYLINE

    Overview

    Prime Retail/Office Space Available

    This retail/office space is situated in a prime location with a parking lot in the rear. Located one block south of Main Street and across the street from the Bank of America main street branch, the property benefits from ample street parking. The first-floor, street-level space is suitable for personal and professional cosmetology services, such as hairdressing, massage, acupuncture, tattoo, and medical spa services. The gross rent includes tax and CAM. The tenant will share the cost of snow removal with other tenants and is responsible for separate utilities, including gas, electricity, and water. Financial and personal guarantees are required from the tenant.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Lee
    County
    Bergen
    State
    New Jersey
    Longitude
    -73.9689
    Latitude
    40.8502

    Nearby Similar for Lease

    • Contact for pricing

      Versatile Space in Prime Location

      Second and third floor space suitable for various businesses.
      1638 Parker #2, Fort Lee, NJ 07024
      View Details
    • Sponsored
      Contact for pricing

      Fort Lee

      1 Bridge Plz, Unit 675, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Free Standing Building Near Main

      Free standing building near Main Street, ideal for various businesses.
      1633 CENTER, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Downtown Fort Lee Office Space

      Second-floor office space in downtown Fort Lee with parking.
      1646 Center #2, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Turnkey Retail with Treatment Rooms

      Retail space with treatment rooms, ready for immediate operation.
      2039 Hudson, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Professional Office or Retail Suite

      Second floor suite in Fort Lee's business district.
      2033 Lemoine #2, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Retail or Professional Office Suite

      Second floor suite in Fort Lee business district.
      2033 Lemoine #201, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Medical Office Space For Lease

      1,355 sq ft medical office space for lease.
      2175 Lemoine #402, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Second Floor Office Space Available

      600 SF office space with attic near Main Street.
      1633 Center #2 FL, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Fort Lee Office Space For Rent

      1,662 SF office space in central Fort Lee.
      520 Main #305B, Fort Lee, NJ 07024
      View Details
    • Contact for pricing

      Retail Space on Bergen Blvd

      Commercial retail space in prime Fort Lee location for rent.
      1422 Bergen Blvd, Fort Lee, NJ, 07024-2116
      View Details
    • Contact for pricing

      Renovated Apartment Near George Washington Bridge

      Completely renovated 2-bedroom apartment in prime Fort Lee location.
      2033 Edwin #2, Fort Lee, NJ 07024
      View Details

    FAQs

    What type of property is this?
    Retail space - Street-level retail/office space in a high-traffic location.
    Where is this retail space located?
    The property is located at 1637 Palisade Fort Lee, NJ.
    What is the lease rate?
    The lease rate is $4,300 /Mo.
    What are key features of this property?
    This property features: Prime retail/office location just one block south of main street.; Rear parking lot and ample street parking available.; Across the street from Bank of America main street branch.
    (201) 592-1388
    We can help!
    Listing Contact
    PAUL QI
    PAUL QI
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!