Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Professional Office Unit For Rent Title is generated by Realmo AI

    450 Bloomfield Ave, Verona, NJ 07044

    View on Map
    Claim this Listing
    For Lease
    $2,300/Mo $26 SF/Yr (calc)

    Professional office unit with kitchen and private bathroom for rent.

    Type:Commercial/Industrial
    Property size:
    1,030 SF
    Lot size:
    0.17 Acres
    Added:
    Aug 4, 2023
    Days on Market:
    1028
    Last Refresh:
    May 20 at 1:38 am

    Property Features for 450 Bloomfield Ave

    General Information

    Standard status
    Active
    Size
    1,030 SF
    Lot size
    0.17 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1988

    We can help!

    Listing Contact
    JAMES R. MATARAZZO JR.

    Listing agent JAMES R. MATARAZZO JR.

    Listing office JOHN YOUNG REALTORS

    Listing date Aug 4, 2023

    Source Exitrealty

    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 JOHN YOUNG REALTORS

    HighLights

    • Reduced Price
    • Large Parking Lot with 25 Spaces
    • 1029 sq ft Second Floor Unit with Three Sections, Kitchen, and Private Bathroom
    • No CAM Charges; Landlord Handles Snow Removal and Building Maintenance
    • 24/7 Building Access with Handicap Entrance
    • Located Across from Verona Park and Near Flourishing Businesses

    Overview

    This professional office unit is available for rent. The unit is located on the second floor of an eight-unit building that houses many thriving businesses. The unit features three sections, a large kitchen, and a private bathroom. The space measures 1029 square feet. The building has a co-shared parking lot with 25 spaces located in the back of the building and a private parking lot across the street. The building provides 24/7 access and has a handicap entrance in the back. The landlord handles snow removal and building maintenance. The property is located across the street from County Verona Park and is within a block of many new businesses. Permitted uses are subject to Township of Verona business application approval. Tenant is responsible for a pro rata share among eight units proportioned of any township tax increase of building. There are no CAM charges.
    Property Profile Location Intelligence

    Current Use by Public Records

    Breslow Law Offices Law Firm Alivio Products Wellness Program Mary Kabat, LCSW Family Counselor Community Advocates Business Management Consultant Squire Retirement Plan ... Consultant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Verona
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2421427
    Latitude
    40.8299189

    Nearby Similar for Lease

    • $7,260/Mo
      3,350 SF

      Verona Office Space For Rent

      3,350 SF office space available in Verona, New Jersey.
      538 Bloomfield Ave, Verona Twp., NJ 07044-2001
      View Details
    • $2,000/Mo

      Verona Township Medical/Retail Space

      Second-generation dentist suite suitable for medical, office, or retail use.
      530 Bloomfield Ave, Verona Twp., NJ 07044-2001
      View Details
    • $1,500/Mo
      1,160 SF

      Two-Car Garage with Loft

      Two-car garage with loft available for rent.
      11 Park Pl, Verona Twp., NJ 07044
      View Details
    • $800/Mo

      Verona Storage Space For Rent

      Storage spaces available in Verona, utilities included.
      11 Park Pl, Verona Twp., NJ 07044-1901
      View Details
    • Contact for pricing
      20,000 SF

      Verona Medical Office Sublease Opportunity

      Medical office suite available for sublease in Verona, NJ.
      825 Bloomfield Ave, Verona, NJ 07044
      View Details
    • $4,000/Mo

      Spacious Apartment Near NYC Transit

      Light-filled 3-4 bedroom apartment near transit, shops, and parks.
      232 Claremont Ave 1, Verona Twp., NJ 07044-2547
      View Details
    • $2,400/Mo

      Renovated Multifamily First Floor Unit

      Recently renovated first-floor multifamily unit with parking in central location.
      35 Montrose Ave, Verona Twp., NJ 07044-1838
      View Details
    • $3,150/Mo

      Renovated Verona Apartment with Deck

      Bright, renovated apartment with private deck and parking.
      660 Bloomfield Ave, Verona Twp., NJ 07044-1601
      View Details
    • $2,250/Mo

      Apartment Overlooking Verona Park

      Spacious 2-bedroom apartment with utilities included and park views.
      19 Lakeview Pl 2, Verona Twp., NJ 07044-2008
      View Details
    • $3,500/Mo

      Turnkey Medical Office Space

      Fully renovated medical office with four examination rooms and parking.
      685 Bloomfield Ave, Verona Twp., NJ 07044
      View Details
    • Contact for pricing
      2,400 SF

      Retail Space with Drive Thru

      Available retail spaces with high traffic and drive-thru.
      14 Pompton Ave, Verona, NJ
      View Details
    • Contact for pricing
      3,437 SF

      Retail Space with Drive Thru

      Former bank and learning center spaces available for lease.
      30 Pompton Ave, Verona, NJ
      View Details

    FAQs

    What type of property is this?
    Office units - Professional office unit with kitchen and private bathroom for rent.
    Where is this office units located?
    The property is located at 450 Bloomfield Ave Verona, NJ.
    What is the lease rate?
    The lease rate is $2,300 /Mo.
    What are key features of this property?
    This property features: Reduced Price; Large Parking Lot with 25 Spaces; 1029 sq ft Second Floor Unit with Three Sections, Kitchen, and Private Bathroom
    (973) 885-2190
    We can help!
    Listing Contact
    JAMES R. MATARAZZO JR.
    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
    450 Bloomfield Ave, Verona Twp., NJ 07044
    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!