Two-Story Professional Office
For Sale
$990,000
169 Dayton Street, Ridgewood, NJ 07450
Free-standing, multi-tenant professional office with private suites on two floors, plus a finished lower level and on-site parking.
Property Size2,646 SF
Lot Size0.15 Acres
Price / SF$374.15
Days on Market204
Property Features for 169 Dayton Street
General Information
Standard status
Active
Size
2,646 SF
Lot size
0.15 Acres
Property subtype
Office
Zoning
P-2
Amenities
Central Air
3
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Gilsenan & Co.
(201) 445-1600
Listed By:
Nicola Esposito, Jr
(201) 394-7094
Source:
Xome
Added: Feb 13
Changed: Sep 1
Last Checked: Sep 5 at 3:47AM
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 Gilsenan & Co.
Investment Insights
Based on property information with market context.
This free-standing, two-story colonial professional office building is currently configured as multiple private office suites across two floors, along with a finished lower-level office space. The building includes shared kitchenette and common areas, three bathrooms, and both a front entry and secondary rear access. On-site parking supports day-to-day access for occupants and visitors.
The property is located in Ridgewood’s coveted P-2 (Professional and Office) zone, where permitted uses include medical and mental health offices, legal, accounting, architectural and engineering, insurance, and other professional offices, as well as certain single-family, two-family, and mixed-use applications. It is approximately two blocks from East Ridgewood Avenue’s downtown shopping and dining and the NJ Transit Bergen County Line train station. Showings are by appointment only, with discretion required for current occupants.
The property is located in Ridgewood’s coveted P-2 (Professional and Office) zone, where permitted uses include medical and mental health offices, legal, accounting, architectural and engineering, insurance, and other professional offices, as well as certain single-family, two-family, and mixed-use applications. It is approximately two blocks from East Ridgewood Avenue’s downtown shopping and dining and the NJ Transit Bergen County Line train station. Showings are by appointment only, with discretion required for current occupants.
Key Highlights
- Free‑standing 2‑story professional office building with private suites on two floors
- 1,940 SF above grade plus 706 SF finished lower level for additional office space
- Configured as multi‑tenant offices with suites occupied by therapists, psychologists, psychiatrists, and other professionals
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
$40,484
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
4.09%
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%
$809,680
$809.7K
Cap Rate 7%
$578,343
$578.3K
Cap Rate 9%
$449,822
$449.8K
Market Conditions
NOI Build-Up for 2,646 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
$79.4K $30.00/SF
− Vacancy
−$25.4K −$9.60/SF
EGI
$54.0K $20.40/SF
− OpEx
−$13.5K −$5.10/SF
NOI
$40.5K $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%
$809,680
Cap Rate 7%
$578,343
Cap Rate 9%
$449,822
Alternative Uses
Best Use
Office B
$578.3K
$506.1K – $674.7K
NOI $40,484 @ 7.0% cap · market cap 4.09%
Second Best
Healthcare Medical
$562.8K
$492.5K – $656.6K
NOI $39,398 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$690.9K
$604.6K – $806.1K
NOI $48,365 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,925
Businesses Nearby
Explore this area
Business Placement
Demographics for 07450, NJ
26,007
Population
9,166
Households
2.8
Avg Household Size
41
Median Age
81%
College-Educated
98%
High-School Grad
5.8 sq mi
ZIP Area
4,484
Density / Sq Mi
$217,250
Median Household Income
$102,692
Median Earnings
$2,340
Median Rent
$882,700
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 - Free-standing, multi-tenant professional office with private suites on two floors, plus a finished lower level and on-site parking.
Where is this office building located?
The property is located at 169 Dayton Street Ridgewood, NJ.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Free‑standing 2‑story professional office building with private suites on two floors; 1,940 SF above grade plus 706 SF finished lower level for additional office space; Configured as multi‑tenant offices with suites occupied by therapists, psychologists, psychiatrists, and other professionals
