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    241 Rock Rd, Glen Rock, NJ 07452

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    Multi-tenant retail/office asset in Glen Rock's Central Business District.

    Type:Office, Retail
    Property size:
    6,200 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $225/SF
    Added:
    Mar 2, 2026
    Days on Market:
    76
    Last Refresh:
    Mar 16 at 1:54 pm

    Property Features for 241 Rock Rd

    General Information

    Standard status
    Active
    Size
    6,200 SF
    Lot size
    0.17 Acres
    Property subtype
    Office, Retail

    We can help!

    Listing Contact
    Jonathan Reitz

    Listing agent Jonathan Reitz License #2077488

    Listing office Christie's International Real Estate

    Listing date Mar 2, 2026

    Source Crexi

    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 Christie's International Real Estate

    HighLights

    • Located in the Central Business District of downtown Glen Rock along the Route 208 Corridor.
    • Multi‑tenant property with seven (7) rentable spaces, providing diversified income streams.
    • Approximately 4,700 SF of rentable area with a full unfinished basement.
    • Frontage on both Rock Road (43’) and Valley Road (approximately 100’).
    • Mix of storefront and professional office tenants currently in place.
    • Six (6) surface parking spaces in the rear.

    Overview

    Located in the Central Business District of downtown Glen Rock along the Route 208 Corridor, 241-243 Rock Rd is a multi-tenant storefront retail/office asset. The two-story masonry building contains approximately 4,700 square feet of rentable area with a full unfinished basement accessible by three of the tenants. The property is situated on 0.17 acres, with 43 feet of frontage on Rock Road and approximately 100 feet of frontage on Valley Road, and includes 6 surface parking spaces in the rear. The building is configured for diversified tenancy with seven rentable spaces, providing multiple income streams. Current occupants include storefront tenants Suka Jewelry and Prominent Builders, as well as a mix of professional office tenants including Marc M. Radin PC (Accounting), Stay Golden Psychiatric, and Alpha Health. Two office spaces were recently vacated.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $1.05M
    NOI $94,860 @ 9.00% cap · cautious / downside scenario
    Moderate
    $1.36M
    NOI $94,860 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.90M
    NOI $94,860 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $186.0k $30.00
    − Vacancy −$59.5k −$9.60
    EGI $126.5k $20.40
    − OpEx −$31.6k −$5.10
    NOI $94.9k $15.30
    6,200 SF · lease $30.00/SF/yr · vacancy 32.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $1.36M
    $1.19M – $1.58M (±1% cap)
    NOI $94,860 @ 7.0% cap · market cap 6.78%
    Second Best
    Retail
    $1.26M
    $1.11M – $1.47M (±1% cap)
    NOI $88,494 @ 7.0% cap · market cap 6.32%
    Theoretical Best
    Office A
    $1.62M
    $1.42M – $1.89M (±1% cap)
    NOI $113,326 @ 7.0% cap · market cap 8.09%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • Evention Flowers & Event Design — 582 s broad st, glen rock, nj 07452

    Location Insight

    • Map
    • Local Demand
    City
    Glen Rock
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.1300381
    Latitude
    40.9625618

    Nearby Similar for Sale

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    • $1,200,000
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      Glen Rock Retail Opportunity

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    FAQs

    What type of property is this?
    Storefront property - Multi-tenant retail/office asset in Glen Rock's Central Business District.
    Where is this storefront property located?
    The property is located at 241 Rock Rd Glen Rock, NJ.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Located in the Central Business District of downtown Glen Rock along the Route 208 Corridor.; Multi‑tenant property with seven (7) rentable spaces, providing diversified income streams.; Approximately 4,700 SF of rentable area with a full unfinished basement.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jonathan Reitz
    Real Estate License ID: 2077488
    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.

    More about this property
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