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    140 Ridgewood Ave Paramus, NJ 07652

    Sponsored
    For Lease
    $22 SF/Yr

    Prestigious Office Suites, Flexible Options

    Lot size:
    21,008 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    423
    This Class A office building, the Mack Cali Center, offers a variety of flexible workspace solutions in the vibrant Paramus, New Jersey market. Located at 140 E Ridgewood Avenue, 07652, this seven-story, mirrored-glass building boasts 21,008 square feet of total space, with 5,520 square feet currently vacant. The property features 350 suites, ranging from a minimum of 10 square feet to a maximum contiguous space of 1,300 square feet, catering to businesses of all sizes. Multiple tenancy options are available, making it ideal for both large corporations and smaller enterprises. The building underwent renovations in 2019 and includes modern amenities such as elevators and a welcoming seven-story atrium. Enjoy the benefits of abundant natural light and an on-site coffee bar, perfect for fostering collaboration and client meetings. A convenient outdoor terrace provides additional space for relaxation and informal gatherings. Situated in a prime location within a bustling retail center, the Mack Cali Center offers unparalleled convenience with easy access to a wide array of restaurants, shops, and entertainment options, enhancing the overall work-life balance for tenants. The building is located in Bergen County, New Jersey, providing excellent accessibility and visibility. This is an exceptional opportunity to establish your business in a prestigious and highly sought-after location.

    Property Features for 140 Ridgewood Ave

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,008 SF
    Class
    A
    Total Rate
    39074.88

    Building Details

    Year Renovated
    2019

    Spaces For Lease

    at 140 Ridgewood Ave, Paramus, NJ 07652 Contact us
    Unit Private office for 5 people

    $64 /Mo

    Size
    807 SF
    Contact us
    Unit Coworking space

    $34 /Mo

    Size
    328 SF
    Contact us
    Unit Virtual office

    $294 /Mo

    Size
    54 SF
    Contact us
    Unit Flexible coworking membership

    $22 /Mo

    Size
    108 SF
    Contact us
    Unit Flexible office membership

    $27 /Mo

    Size
    108 SF
    Contact us
    Unit Private office for 1 person

    $90 /Mo

    Size
    538 SF
    Contact us
    Unit Private office for 2 people

    $74 /Mo

    Size
    538 SF
    Contact us
    Unit Private office for 3 people

    $76 /Mo

    Size
    646 SF
    Contact us
    Unit Private office for 4 people

    $69 /Mo

    Size
    646 SF
    Contact us
    Unit Open plan office space for + 10 people

    $138 /Mo

    Size
    1,184 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Heartland Regus Us

    Learn more

    Property Insight Report

    HighLights

    • Class A office building with 21,008 square feet of total space, 5,520 square feet currently vacant.
    • Seven‑story, mirrored‑glass building with 350 suites ranging from 10 to 1,300 contiguous square feet.
    • 2019 renovations, modern amenities including elevators and a seven‑story atrium.
    • On‑site coffee bar and outdoor terrace.
    • Prime location in Paramus, NJ, within a bustling retail center, offering easy access to restaurants and shops.
    • Located in Bergen County, NJ, providing excellent accessibility and visibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Premier Events Event Planning Marc S Berman ... Law Firm Corridor Platforms (Bike/Boat/Book/etc) Store James M Miner ... Law Firm Law Offices of Raffi ... Law Firm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Paramus
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0688413
    Latitude
    40.9646001

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    FAQs

    What type of property is this?
    Office space - Prestigious Office Suites, Flexible Options
    Where is this office space located?
    The property is located at 140 Ridgewood Ave Paramus, NJ.
    What is the lease rate?
    The lease rate is $0.00-$294 SF/Yr.
    What are key features of this property?
    This property features: Class A office building with 21,008 square feet of total space, 5,520 square feet currently vacant.; Seven-story, mirrored-glass building with 350 suites ranging from 10 to 1,300 contiguous square feet.; 2019 renovations, modern amenities including elevators and a seven-story atrium.
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    140 Ridgewood Ave Paramus, NJ 07652
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    Paramus, NJ 07652
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    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
    140 Ridgewood Ave Paramus, NJ 07652
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