Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Bright Apartment with Eat-In Kitchen Title is generated by Realmo AI

    588 Argyle Ave 3, Orange, NJ 07050

    View on Map
    Claim this Listing
    For Lease
    $12 SF/Yr

    Second-floor apartment featuring natural light, eat-in kitchen, and laundry.

    Type:Multi Family
    Added:
    Apr 15, 2026
    Days on Market:
    48
    Last Refresh:
    Apr 10 at 8:34 am

    Property Features for 588 Argyle Ave 3

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1896

    We can help!

    Listing Contact
    GREGG NICHOLAS

    Listing agent GREGG NICHOLAS

    Listing office Village Square Realtors

    Listing date Apr 15, 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 Village Square Realtors

    HighLights

    • Very walkable location (Walk Score: 82)
    • Eat‑in kitchen with refrigerator and gas stove
    • Abundance of natural light
    • Freshly painted walls
    • Laminate floors throughout
    • Coin‑operated laundry on the same floor

    Overview

    This bright and airy second-floor apartment features an eat-in kitchen equipped with a refrigerator and gas stove. The living spaces are filled with natural light, enhanced by large windows, freshly painted walls, and laminate floors throughout the bedrooms and living areas. Coin-operated laundry facilities are conveniently located on the same floor. The property has a walk score of 82, indicating it is very walkable, and a bike score of 42, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    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
    Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2527614
    Latitude
    40.7588829

    Nearby Similar for Lease

    • $25 SF/Yr
      446 SF

      Office Space Near Train Station

      Office space for rent, convenient location near public transit.
      75 S Orange Ave, S Orange, NJ
      View Details
    • Contact for pricing
      2,700 SF

      Retail Space in New Building

      High-visibility retail space in a new downtown apartment building.
      475 Main St, City Of Orange Twp., NJ 07050
      View Details
    • $1,400/Mo

      Renovated Studio Apartment For Rent

      Renovated studio with kitchen, bathroom, and coin-operated laundry.
      588 Argyle Ave 2, City Of Orange Twp., NJ 07050-1038
      View Details
    • Contact for pricing
      10,400 SF

      Retail Space with Private Parking

      Retail space for rent with on-site parking and signage.
      560 White St, Orange, NJ 07050
      View Details
    • $1,945/Mo

      Convenient Orange Unit For Rent

      Well-maintained unit with easy access to transportation and shopping.
      189 -191So Jefferson St 1, City Of Orange Twp., NJ 07050-1408
      View Details
    • $12 SF/Yr

      Immaculate Apartment Near Transportation

      Well-maintained 2-bedroom apartment near NYC transport and Newark Airport.
      569 Chestnut St, City Of Orange Twp., NJ 07050-1129
      View Details
    • $2,600/Mo

      Renovated 3-Bedroom Apartment For Rent

      Spacious, renovated 3-bedroom apartment with new appliances. Tenant pays utilities.
      154 Spring St, City Of Orange Twp., NJ 07050-1706
      View Details
    • $2,600/Mo

      Renovated Sun-Filled Residential Unit

      Freshly renovated 2nd-floor unit with private backyard.
      222 Snyder St, City Of Orange Twp., NJ 07050-3708
      View Details
    • Contact for pricing
      6,000 SF

      Modern Medical Office Building

      Three-story Class A medical office building in East Orange.
      310 Central Ave, E Orange, NJ
      View Details
    • Contact for pricing
      2,540 SF

      Office Space in City of Orange

      Office space available for rent in City of Orange.
      475 S Jefferson St, City of Orange, NJ
      View Details
    • Contact for pricing
      565 SF

      Retail Space in South Orange

      Retail space available with street and public parking.
      109 S Orange Ave, S Orange, NJ
      View Details
    • $2,800/Mo

      Retail Space Near Train Station

      Retail space for rent near train station with high traffic.
      528 Scotland Rd, City Of Orange Twp., NJ 07050
      View Details

    FAQs

    What type of property is this?
    Apartment building - Second-floor apartment featuring natural light, eat-in kitchen, and laundry.
    Where is this apartment building located?
    The property is located at 588 Argyle Ave 3 Orange, NJ.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Very walkable location (Walk Score: 82); Eat‑in kitchen with refrigerator and gas stove; Abundance of natural light
    (973) 632-0183
    We can help!
    Listing Contact
    GREGG NICHOLAS
    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
    588 Argyle Ave 3, City Of Orange Twp., NJ 07050-1038
    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!