Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Space in West Orange Title is generated by Realmo AI

    45 Washington St, West Orange, NJ 07052

    View on Map
    Claim this Listing
    For Lease
    $1,500 /Mo

    Open commercial space suitable for retail, fitness, medical, and more.

    Type:Commercial
    Added:
    Mar 23, 2026
    Days on Market:
    77
    Last Refresh:
    Apr 1 at 8:58 pm

    Property Features for 45 Washington St

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    JULIO NOEL-JEUNE

    Listing agent JULIO NOEL-JEUNE

    Listing office THE MARC AGENCY

    Listing date Mar 23, 2026

    Source Corcoran

    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 THE MARC AGENCY

    HighLights

    • Highly Versatile Open Commercial Space: Suitable for retail, boutique fitness, personal services, creative studio, medical office, and more.
    • Excellent Value: Priced at $1,500/month.
    • Prime Location: Situated in a sought‑after Essex County community.
    • Strong Foot Traffic: Benefits from consistent neighborhood foot traffic.
    • Convenient Accessibility: Located minutes from Route 280.
    • Built‑in Customer Base: Benefits from an existing local customer base.

    Overview

    This open commercial space in West Orange, Essex County, presents a versatile environment ready for customization. The space is suitable for various business types, including retail, boutique fitness, personal services, creative studios, and medical offices. The property benefits from strong neighborhood foot traffic and a built-in customer base. Its location offers convenient access to Route 280.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    West Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2282382
    Latitude
    40.7862042

    Nearby Similar for Lease

    • $1,975/Mo
      850 SF

      Prime Main Street Commercial Space

      Renovated storefront in downtown West Orange.
      285 Main St, West Orange Twp., NJ 07052-5615
      View Details
    • $2,400/Mo
      1,800 SF

      West Orange Lower-Level Office Space

      1,800 sq ft office space for lease.
      401 Pleasant Valley Way, West Orange Twp., NJ 07052-2935
      View Details
    • $1,975/Mo
      850 SF

      Corner Storefront Office or Retail

      Renovated corner storefront with open plan, exposed brick, and ductless A/C—well suited for studio or professional use.
      285 Main St, West Orange Twp., NJ 07052-5615
      View Details
    • $2,400/Mo
      1,800 SF

      West Orange Lower-Level Office Space

      1,800 SF lower-level office space for lease in West Orange.
      401 Pleasant Valley Way, West Orange Twp., NJ 07052
      View Details
    • $23 SF/Yr
      54,799 SF

      Medical/Professional Space with NYC Views

      Medical/Professional space available with capital improvements and NYC views.
      414 Eagle Rock Ave, West Orange, NJ 07052
      View Details
    • $1,650/Mo

      Updated Office Space For Rent

      Renovated office space with private bathroom and kitchen area.
      621 Eagle Rock Ave, West Orange Twp., NJ 07052
      View Details
    • $2,480/Mo

      Updated Office Space For Rent

      Updated office space with private bathroom, kitchen, and ample parking.
      622 Eagle Rock Ave, West Orange Twp., NJ 07052
      View Details
    • $2,900/Mo
      1,200 SF

      Renovated Office Space For Rent

      Newly renovated office space with utilities included, convenient location.
      111 Northfield Ave, West Orange Twp., NJ 07052
      View Details
    • $800/Mo

      Renovated Private Office For Rent

      Renovated office with waiting room, kitchen, and parking.
      621 Eagle Rock, West Orange Twp., NJ 07052
      View Details
    • $12 SF/Yr
      1,100 SF

      Bright Two-Bedroom Apartment For Rent

      Well-maintained, bright 2-bedroom apartment with parking near transportation.
      43 Chestnut St B, West Orange Twp., NJ 07052-6119
      View Details
    • $1,975/Mo

      Remodeled Apartment Near Transportation

      Modern, renovated apartment with stainless steel appliances and parking.
      19 Northfield Ave 1R, West Orange Twp., NJ 07052-5348
      View Details
    • $2,200/Mo

      Well-Maintained Two-Bedroom Rental

      Move-in ready 2BR/1BA with living room, formal dining, and a den for flexible everyday use.
      13 Maple St 2, West Orange Twp., NJ 07052-5915
      View Details

    FAQs

    What type of property is this?
    Retail space - Open commercial space suitable for retail, fitness, medical, and more.
    Where is this retail space located?
    The property is located at 45 Washington St West Orange, NJ.
    What is the lease rate?
    The lease rate is $1,500 /Mo.
    What are key features of this property?
    This property features: Highly Versatile Open Commercial Space: Suitable for retail, boutique fitness, personal services, creative studio, medical office, and more.; Excellent Value: Priced at $1,500/month.; Prime Location: Situated in a sought‑after Essex County community.
    (908) 352-6194
    We can help!
    Listing Contact
    JULIO NOEL-JEUNE
    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
    45 Washington St, West Orange Twp., NJ 07052
    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!