Brick Apartment Building with Expansion
For Sale
$1,150,000
200 Ridgefield Avenue, Bogota, NJ 07603
Five-unit configuration includes four one-bedroom apartments and one two-bedroom apartment.
Property Size2,400 SF
Price / SF$479.17
Days on Market141
Property Features for 200 Ridgefield Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
5+ Mixed Use
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR, 1 x 2BR
Multifamily Units
5
Additional Details
Gross Income
$105,012
Taxes and HOA fees
Annual Taxes
$14,950
Amenities
0.0
Peaked, See Remarks
Building Details
Year Built
1900
Construction
brick
Listing Agency:
Discover Real Estate
(551) 574-1063
Listed By:
Cynthia B Torres
(551) 574-1063
Source:
Compass
Added: Apr 12
Changed: Aug 29
Last Checked: Aug 29 at 7:54PM
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 Discover Real Estate
Investment Insights
Based on property information with market context.
This all-brick apartment property contains five apartments, including four one-bedroom units and one two-bedroom unit. The building provides 2,400 square feet of living space, along with an additional 1,200 square feet of space identified for expansion. Each apartment has separate utilities, with hot water and cold water shared across the property.
Recent property improvements include five newer heating systems, five newer electric panels, and a newer roof. Constructed in 1900, the building is located at 200 Ridgefield Avenue in Bogota, New Jersey, on a quiet street near NYC bus service, schools, and shops.
Recent property improvements include five newer heating systems, five newer electric panels, and a newer roof. Constructed in 1900, the building is located at 200 Ridgefield Avenue in Bogota, New Jersey, on a quiet street near NYC bus service, schools, and shops.
Key Highlights
- Five apartments: four one‑bedroom units and one two‑bedroom unit
- 2,400 square feet of living space
- Additional 1,200 square feet of space for expansion
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
$36,907
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
3.21%
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%
$738,140
$738.1K
Cap Rate 7%
$527,243
$527.2K
Cap Rate 9%
$410,078
$410.1K
Market Conditions
NOI Build-Up for 2,400 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
$72.0K $30.00/SF
− Vacancy
−$4.9K −$2.04/SF
EGI
$67.1K $27.96/SF
− OpEx
−$30.2K −$12.58/SF
NOI
$36.9K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$738,140
Cap Rate 7%
$527,243
Cap Rate 9%
$410,078
Alternative Uses
Best Use
Apartment 5plus
$527.2K
$461.3K – $615.1K
NOI $36,907 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$626.7K
$548.4K – $731.1K
NOI $43,868 @ 7.0% cap · market cap 3.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
900
Businesses Nearby
Explore this area
Business Placement
Demographics for 07603, NJ
8,778
Population
3,203
Households
2.7
Avg Household Size
40
Median Age
34%
College-Educated
89%
High-School Grad
0.8 sq mi
ZIP Area
10,973
Density / Sq Mi
$107,321
Median Household Income
$57,300
Median Earnings
$1,893
Median Rent
$443,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit configuration includes four one-bedroom apartments and one two-bedroom apartment.
Where is this apartment building located?
The property is located at 200 Ridgefield Avenue Bogota, NJ.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Five apartments: four one‑bedroom units and one two‑bedroom unit; 2,400 square feet of living space; Additional 1,200 square feet of space for expansion
