Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    407 Hope Ave Roselle, NJ 07203

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $690,000

    Flex/Industrial/Office space featuring drive-in door, gas heat, and parking.

    Property size:
    3,750 SF
    Lot size:
    0.12 Acres

    Property Features for 407 Hope Ave

    General Information

    Standard status
    Active
    Size
    3,750 SF
    Lot size
    0.12 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Steven Rakin
    Source: Corcoran

    Listing Agent: Steven Rakin

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    3750SF Facility with Office Space

    This 3750 square foot facility includes 1300 square feet of office space. The warehouse area features a 10 x 12 drive-in door with opener and two gas heat blowers. The warehouse ceiling height is 13 feet. The office area is equipped with central air and heat, one full bathroom, one half bathroom, and 8-foot ceilings. Parking is available for four cars in front of the building. The building is intended for flex, industrial, and office use and will be vacant by October 1, 2025.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Valega Construction Corp. General Contractor

    Suggested Use

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

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

    Similar Places Nearby

    T-TAB Cuisine, Timane's Takeout & Catering, Sabrina's Catering Delights

    Location Insight

    • Map
    • Local Demand
    City
    Roselle
    County
    Union
    State
    New Jersey
    Longitude
    -74.2555308
    Latitude
    40.6615285

    Nearby Similar for Sale

    • $700,000
      Pending

      Roselle Boro Multi-Family Property

      Two-story multi-family property in Roselle Boro, New Jersey.
      226 E 8Th Ave, Roselle, NJ 07203
      View Details
    • New
      $649,900
      2,324 SF

      Spacious Two-Family Home in Roselle

      Large 2-family home with income potential, convenient location.
      1025 Rivington St, Roselle, NJ 07203
      View Details
    • New
      $649,900
      2,300 SF

      Spacious Multi-Family Home in Roselle

      Two-family home with income potential, convenient location, and ample space.
      1025 Rivington St, Roselle, NJ 07203
      View Details
    • Contact for pricing

      Roselle Apartment Building For Sale

      35-unit apartment building in Roselle, NJ with tax PILOT.
      533 East 2Nd Ave, Roselle, NJ 07203
      View Details
    • Contact for pricing

      Established Farmers' Market For Sale

      Well-established farmers' market with high sales volume and growth potential.
      711 1St Ave, Roselle, NJ 07203
      View Details
    • Contact for pricing
      24,800 SF

      Industrial Warehouse Near Transportation Hubs

      24,500 SF industrial building with convenient access to major routes.
      169-193 E Highland Pkwy, Roselle, NJ 07203
      View Details
    • Contact for pricing

      Updated Two-Unit House

      Spacious, updated, move-in ready two-unit house with long driveway.
      395 E 9Th Ave, Roselle, NJ 07203
      View Details
    • $699,000

      Roselle Multifamily Property For Sale

      Multifamily property available for purchase in Roselle, New Jersey.
      326 Mercer Ave, Roselle, NJ 07203
      View Details
    • $849,000

      Roselle Multifamily Property for Sale

      Multifamily property in Roselle, NJ, available for purchase.
      1129 Spruce St, Roselle, NJ 07203
      View Details
    • $699,999

      Multifamily Property for Sale

      Multifamily property available for purchase.
      2050 E Saint Georges Ave, Roselle, NJ 07036
      View Details
    • $719,999

      Roselle Multifamily Investment Opportunity

      Multifamily property for sale in Roselle, New Jersey.
      1204 Warren St, Roselle, NJ 07203
      View Details
    • Contact for pricing
      11,000 SF

      Roselle Multifamily Building for Sale

      Four-story brick building with 17 units in Roselle, NJ.
      234 Walnut St, Roselle, NJ 07203
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex/Industrial/Office space featuring drive-in door, gas heat, and parking.
    Where is this flex space located?
    The property is located at 407 Hope Ave Roselle, NJ.
    What is the asking price?
    The asking price for this property is $690,000.
    What are key features of this property?
    This property features: - 3750SF Facility with 1300SF of Office Space; - Vacant by 10/1/25; - 10 x 12 Drive-In Door with Opener
    (908) 486-4777
    Request Owner's contact information
    407 Hope Ave Roselle, NJ 07203
    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.
    407 Hope Ave
    Roselle, NJ 07203
    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
    407 Hope Ave Roselle, NJ 07203
    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

    We can help!
    Listing Contact
    Steven Rakin
    (908) 486-4777
    Learn more
    Google sign-in failed. Please try again or use another login method.