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

    171 Park Ave Florham Park, NJ

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Restaurant pad available for lease with potential liquor license.

    Type:RETAIL
    Property size:
    7,500 SF
    Lot size:
    9.22 Acres
    Added:
    Mar 22, 2024
    Days on Market:
    765
    Last Refresh:
    Apr 5 at 11:20 pm

    Property Features for 171 Park Ave

    General Information

    Standard status
    Active
    Size
    7,500 SF
    Lot size
    9.22 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 171 Park Ave Contact us

    We can help!

    Listing Contact
    Jay Miller

    Listing agent Jay Miller

    Listing office CBRE | Philadelphia Suburban

    Listing date Mar 22, 2024

    Source Moodyscre

    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 CBRE | Philadelphia Suburban

    Overview

    Restaurant Pad with Liquor License

    A proposed multi-tenant building offers approximately 9,300 square feet of space. An approximately 7,500-square-foot restaurant pad is available. The location offers good access and visibility. A liquor license is potentially available. The average household income within a five-mile radius exceeds $190,271. The daytime population within a five-mile radius is over 170,560 people.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Big Box & Wholesale Store Hotel & Motel Pharmacy Gym & Fitness Center Department Store Skin Care Clinic

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

    Similar Places Nearby

    • Dartcor Enterprises-Cafe 500 — 500 Campus Dr, Florham Park, NJ 07932

    Location Insight

    • Map
    • Local Demand
    City
    Florham Park
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4307
    Latitude
    40.7791

    Nearby Similar for Lease

    • $1,600/Mo

      Florham Park Office Space Available

      910 sq ft office with five private rooms.
      256 Columbia Tpke, Florham Park Boro, NJ 07932
      View Details
    • $3,700/Mo

      Professional Office Condo For Rent

      Professional office condo with reception, offices, kitchenette, and parking.
      256 Columbia Tpke, Florham Park Boro, NJ 07932
      View Details
    • Contact for pricing

      Florham Park Office Sublease

      Office space available for sublease in Florham Park, NJ.
      180 Park Ave, Florham Park, NJ 07932
      View Details
    • $19 SF/Yr

      Florham Park Office Space Available

      64,500 SF office building with restaurants and hotels nearby.
      25 Hanover Rd, Florham Park, NJ
      View Details
    • Contact for pricing

      Florham Park Office Space Available

      Office building with 8472 square feet available for rent.
      220 Park Ave, Florham Park, NJ 07932
      View Details
    • Contact for pricing

      Office Building Near Major Routes

      Office building with proximity to Route 24 and I-287.
      100 Park Avenue, Florham Park , NJ, 07932
      View Details
    • $32 SF/Yr

      Florham Park Office Building For Rent

      220,000 SF office building in Rockefeller Group Corporate Park.
      180 Park Ave, Florham Park, NJ
      View Details
    • Contact for pricing

      Proposed Multi-Tenant Retail Opportunity

      Proposed multi-tenant building with restaurant pad and liquor license.
      130 Park Avenue, Florham Park, NJ, 7932
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Retail space available, offering 1,935 square feet.
      182 Ridgedale Ave, Florham Park, NJ 07932
      View Details
    • $25 SF/Yr

      Office Space Near Retail

      Office building with ample parking near shopping and transit.
      195 Columbia Tpke, Florham Park, NJ
      View Details
    • Contact for pricing

      Florham Park Office Space

      Office space available for rent in Florham Park, NJ.
      100-600 Campus Drive, Florham Park, NJ, 07932
      View Details
    • $1,800/Mo

      Second Floor Office Space Available

      Second floor office space featuring five offices, breakroom, and bathroom.
      140 Columbia Tpke, Florham Park Boro, NJ 07932
      View Details

    FAQs

    What type of property is this?
    Restaurant - Restaurant pad available for lease with potential liquor license.
    Where is this restaurant located?
    The property is located at 171 Park Ave Florham Park, NJ.
    What are key features of this property?
    This property features: High Average Household Incomes: Over $190,271 within a 5‑mile radius.; High Daytime Population: Over 170,560 people within a 5‑mile radius.; Restaurant Pad: Approx. ±7,500 SF restaurant pad is already planned.
    (610) 251-0820 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jay Miller
    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!