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    3131 John F. Kennedy Blvd North Bergen, NJ 07047

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    351,000 SF shopping center with unmatched visibility.

    Type:Retail, Restaurant
    Property size:
    351,000 SF
    Added:
    Mar 24, 2021
    Days on Market:
    1870
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 3131 John F. Kennedy Blvd

    General Information

    Standard status
    Active
    Size
    351,000 SF
    Property subtype
    Retail, Restaurant

    Spaces For Lease

    at 3131 John F. Kennedy Blvd Contact us

    We can help!

    Listing Contact
    Florian Suserman

    Listing agent Florian Suserman License #FL 0341146

    Listing office Ripco Real Estate

    Listing date Mar 24, 2021

    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 Ripco Real Estate

    HighLights

    • Exceptional visibility for inbound and outbound drivers.
    • Direct access to major road networks (495, Route 3, NJ Turnpike, Routes 1 & 9).
    • Located in a high‑density submarket of Hudson County, New Jersey.
    • Advantageous proximity to Hoboken and Union City waterfront communities.
    • Ample on‑site parking.
    • Excellent mix of local and regional retail.

    Overview

    North Bergen Shopping Center Space

    Columbia Park Center is a 351,000 SF shopping center located in North Bergen, a high-density submarket within Hudson County, New Jersey. Situated off John F. Kennedy Boulevard, the center provides direct access to major road networks, including the 495, Route 3, the New Jersey Turnpike, and Routes 1 & 9. Its location also offers advantageous proximity to the waterfront communities of Hoboken and Union City. With a convenient drive to Manhattan via the Lincoln Tunnel, a 2-minute car ride from the site, the center benefits from exceptional visibility for both inbound and outbound drivers. The center features ample on-site parking and an excellent mix of local and regional retail. Opportunities at Columbia Park Center offer unmatched visibility for local retailers and national retailers seeking to expand their regional footprint.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Herramientas — 2022 88th St, North Bergen, NJ 07047
    • Tonnelle Plaza — 8101 Tonnele Ave, North Bergen, NJ 07047
    • Crypto Dispensers | CDReload — 9015 Bergenline Avenue, 90th St, North Bergen, NJ 07047
    • Tonnelle Commons — 8701 Tonnele Ave, North Bergen, NJ 07047
    • premium outlet — 7109 jackson st, north bergen, nj 07047

    Map

    City
    North Bergen
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0263
    Latitude
    40.7933

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    FAQs

    What type of property is this?
    Shopping center - 351,000 SF shopping center with unmatched visibility.
    Where is this shopping center located?
    The property is located at 3131 John F. Kennedy Blvd North Bergen, NJ.
    What are key features of this property?
    This property features: Exceptional visibility for inbound and outbound drivers.; Direct access to major road networks (495, Route 3, NJ Turnpike, Routes 1 & 9).; Located in a high‑density submarket of Hudson County, New Jersey.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Florian Suserman
    Real Estate License ID: FL 0341146
    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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