Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Apartment Near Midtown Train Title is generated by Realmo AI

    26 Ocean St, Millburn, NJ 07041

    View on Map
    Claim this Listing
    New
    For Lease
    $3,600 /Mo

    Large 3-bedroom apartment with garage, close to train and schools.

    Type:Multi Family
    Added:
    May 21, 2026
    Days on Market:
    7
    Last Refresh:
    May 21 at 2:24 pm

    Property Features for 26 Ocean St

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    JOSEPH RICCI

    Listing agent JOSEPH RICCI

    Listing office

    Listing date May 21, 2026

    Source Elliman

    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 JOSEPH RICCI

    HighLights

    • Convenient location: close to town, Midtown direct train, MHS (Millburn High School) & Taylor Park.
    • Recently renovated kitchen.
    • Includes a garage.
    • Central Air Conditioning (C/A) and Hardwood (H/W) floors.
    • Washer and Dryer (W/D) in basement.
    • Landlord maintains shared backyard.

    Overview

    This is a large 3-bedroom, 1.1-bath apartment located on the second floor. It features central air conditioning and hardwood floors. The kitchen has been recently renovated. The unit includes a garage and washer/dryer in the basement. The property is situated close to town, the Midtown direct train line, Millburn High School, and Taylor Park. Built as a true two-family home, it offers access to top-rated schools. The landlord will maintain the shared backyard. The location has a walk score of 84, indicating it is very walkable, and a bike score of 52, making it bikeable.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Millburn
    County
    Essex
    State
    New Jersey
    Longitude
    -74.3096179
    Latitude
    40.7167155

    Nearby Similar for Lease

    • $2,500/Mo
      800 SF

      Medical Office Suite For Lease

      Professional medical office suite in Millburn Medical Center.
      25 E Willow St, Millburn Twp., NJ 07041
      View Details
    • Sponsored
      Contact for pricing

      51 JFK Parkway

      51 Jfk Pkwy 1, Unit WEST, Millburn, NJ 07078
      View Details
    • $1,000/Mo

      Office Space in Millburn Township

      Office space for rent with ample parking and convenient location.
      27 Bleeker St, Millburn Twp., NJ 07041-1414
      View Details
    • $2,500/Mo

      Office Space in Millburn Township

      Serviced and coworking office spaces for rent in Millburn, NJ.
      27 Bleeker St, Millburn Twp., NJ 07041-1414
      View Details
    • $3,000/Mo

      Office Space in Millburn Township

      Bright office space with parking near major transportation routes.
      27 Bleeker St, Millburn Twp., NJ 07041-1414
      View Details
    • $600/Mo

      Office Space in Millburn Township

      Office space with shared amenities and ample parking near major routes.
      27 Bleeker St, Millburn Twp., NJ 07041-1414
      View Details
    • $35 SF/Yr
      5,000 SF

      Well-Maintained Millburn Commercial Space

      5,000 SF Millburn property suitable for retail or office.
      10 E Willow St, Millburn Twp., NJ 07041
      View Details
    • $30 SF/Yr
      36,680 SF

      36,680 SF Office Building

      Office building with 36,680 SF available for rent.
      75 Main Street, Millburn, NJ 07041
      View Details
    • $1,400/Mo

      Renovated Office Space in Millburn

      Prime downtown Millburn location, convenient to trains, routes, shops.
      42 Main St, Millburn Twp., NJ 07041
      View Details
    • $4,800/Mo
      1,500 SF

      Prime Retail Space in Millburn

      1,500 SF storefront in Millburn's bustling business district.
      327 Millburn Ave, Millburn Twp., NJ 07041
      View Details
    • $2,700/Mo
      3,200 SF

      Medical/Office Building with Options

      Medical/Office spaces available, ranging from 760 to 3,200 sq ft.
      120 MILLBURN AVE, Millburn Twp., NJ 07041
      View Details
    • $4,800/Mo

      Prime Retail Space in Millburn

      Free-standing building in downtown Millburn's B4 Business Zone.
      281 Essex Street, Millburn Twp., NJ 07041
      View Details

    FAQs

    What type of property is this?
    Duplex - Large 3-bedroom apartment with garage, close to train and schools.
    Where is this duplex located?
    The property is located at 26 Ocean St Millburn, NJ.
    What is the lease rate?
    The lease rate is $3,600 /Mo.
    What are key features of this property?
    This property features: Convenient location: close to town, Midtown direct train, MHS (Millburn High School) & Taylor Park.; Recently renovated kitchen.; Includes a garage.
    (908) 276-6299
    We can help!
    Listing Contact
    JOSEPH RICCI
    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

    Thank You for Inquiry
    26 Ocean St, Millburn Twp., NJ 07041-1147
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!