Add Listing
    For Lease
    • 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

    589 Franklin #10 Ridgewood, NJ 7450

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,295 /Mo

    Newly renovated office space with shared amenities and on-site parking.

    Type:Commercial
    Added:
    Jan 3, 2026
    Days on Market:
    88
    Last Refresh:
    Mar 26 at 2:37 am

    Property Features for 589 Franklin #10

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    LEIGH GILSENAN SALTIEL

    Listing agent LEIGH GILSENAN SALTIEL

    Listing office GILSENAN & CO.

    Listing date Jan 3, 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 GILSENAN & CO.

    Overview

    Renovated Office Space Available

    Located on the lower level of a professional building, this newly renovated office space features two large, open office areas. The unit includes access to a shared hallway bathroom, which is shared with one other unit. On-site parking is available, with 25 spaces shared among all tenants. The tenant is responsible for the separately metered electric bill, as well as the maintenance and cleaning of the unit. Common areas are professionally cleaned and maintained by the landlord.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Restaurant Real Estate Agency 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
    Ridgewood
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.1096
    Latitude
    40.9789

    Nearby Similar for Lease

    • Contact for pricing

      Ridgewood Village Commercial Colonial Office

      Charming Ridgewood Village office space near transportation and amenities.
      65 S Maple Ave, Ridgewood Village, NJ 07450-4509
      View Details
    • Contact for pricing

      First-Floor Office Suite in Ridgewood

      Efficient 511 SF office suite with parking and kitchenette.
      555 Goffle Rd, Ridgewood Village, NJ 07450-4038
      View Details
    • Contact for pricing

      Renovated Office Space in Ridgewood

      Newly renovated 750 SF office space in downtown Ridgewood.
      7 Ridgewood #3rd Floor, Ridgewood, NJ 07450
      View Details
    • $20/mo

      Prime Ridgewood Office/Medical Space

      Highly visible office or medical space in desirable Ridgewood location.
      615 Franklin Turnpike, Ridgewood, NJ 07450
      View Details
    • $20/mo

      Prime Ridgewood Office/Medical Space

      Highly visible office/medical space in desirable Ridgewood location.
      615 Franklin Turnpike, Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Ridgewood Retail Space For Lease

      Retail space in Ridgewood, built out as a restaurant.
      39 Godwin #39, Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Ridgewood Medical Office Suite

      Professionally upgraded medical office suite in prime Ridgewood location.
      265 Ackerman Ave, Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Ridgewood Medical Office Suite

      Professionally upgraded medical suite near Valley Health System campus.
      265 Ackerman Ave, Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Renovated Office Suite For Rent

      Completely renovated office suite with high visibility and parking.
      145 Prospect, Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Retail Space Near Ridgewood Station

      Retail space with parking in downtown Ridgewood near train.
      240 E. Ridgewood Avenue , Ridgewood, NJ 07450
      View Details
    • Contact for pricing

      Renovated Commercial Space, Parking Included

      Turnkey Ridgewood commercial space with parking, ready for immediate occupancy.
      17 Godwin Ave, Ridgewood Village, NJ 07450
      View Details
    • Contact for pricing

      Ridgewood Medical Office Suite

      Professionally upgraded medical office suite in Ridgewood, NJ.
      265 Ackerman Ave, Ridgewood, NJ 07450
      View Details

    FAQs

    What type of property is this?
    Office units - Newly renovated office space with shared amenities and on-site parking.
    Where is this office units located?
    The property is located at 589 Franklin #10 Ridgewood, NJ.
    What is the lease rate?
    The lease rate is $1,295 /Mo.
    What are key features of this property?
    This property features: Newly renovated office space; Two large open office spaces; Electric is separately metered and tenant's only utility responsibility
    (201) 445-1600
    We can help!
    Listing Contact
    LEIGH GILSENAN SALTIEL
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!