Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical/Professional Space with NYC Views Title is generated by Realmo AI

    414 Eagle Rock Ave, West Orange, NJ 07052

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    54,799 SF building with suites from 650-24,624 SF available.

    Type:Office
    Property size:
    54,799 SF
    Added:
    Oct 2, 2023
    Days on Market:
    959
    Last Refresh:
    Mar 17 at 1:15 pm

    Property Features for 414 Eagle Rock Ave

    General Information

    Standard status
    Active
    Size
    54,799 SF
    Property subtype
    Office

    Spaces For Lease

    at 414 Eagle Rock Ave Contact us

    Suite 102 $28/Mo

    Size
    1,139 SF
    Type
    Office
    Contact us

    Suite 304 $28/Mo

    Size
    5,216 SF
    Type
    Office
    Contact us

    Suite 201 $23/Mo

    Size
    5,015 SF
    Type
    Office
    Contact us

    Suite 301 $28/Mo

    Size
    650 SF
    Type
    Office
    Contact us

    Suite 206 $28/Mo

    Size
    2,297 SF
    Type
    Office
    Contact us

    Suite 305 $28/Mo

    Size
    2,221 SF
    Type
    Office
    Contact us

    Suite 110 $23/Mo

    Size
    1,700 SF
    Type
    Office
    Contact us

    Suite 109 $23/Mo

    Size
    779 SF
    Type
    Office
    Contact us

    Suite 200 $28/Mo

    Size
    1,182 SF
    Type
    Office
    Contact us

    Suite 205 $23/Mo

    Size
    3,225 SF
    Type
    Office
    Contact us
    Show more

    We can help!

    Listing Contact
    Darren Lizzack

    Listing agent Darren Lizzack License #NJ 9806280

    Listing office The Clinical Group

    Listing date Oct 2, 2023

    Source Crexi

    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 Clinical Group

    HighLights

    • Excellent location just off Route 280, next to the New York City Observatory and Eagle Rock Reservation.
    • Excellent views of the New York City skyline.
    • Capital improvements almost completed, including new LED lighting, carpeting, ceiling tiles, wallcoverings, restroom upgrades, and elevator refurbishment.
    • 54,799 SF building with suites ranging from 650 SF - 24,624 SF.
    • Medical/Professional use designation.
    • Located next to the Chit Chat Diner.

    Overview

    This 54,799 square foot building offers medical and professional office spaces ranging from 650 to 24,624 square feet. Capital improvements are almost completed, including new LED lighting, carpeting, ceiling tiles, wall coverings, window frosting, restroom upgrades, and elevator refurbishment. The property is located just off Route 280, perched on a cliff next to the Chit Chat Diner. It features views of the New York City skyline and is next to the New York City Observatory and Eagle Rock Reservation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

    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
    -74.2457438
    Latitude
    40.8024921

    Nearby Similar for Lease

    • $2,400/Mo

      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
    • $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
    • $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
    • $1,500/Mo

      Versatile Commercial Space in West Orange

      Open commercial space suitable for retail, fitness, medical, and more.
      45 Washington St, 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
    • $2,200/Mo

      Renovated Commercial Space in West Orange

      Turn-key commercial space with modern upgrades and flexible layout.
      43 Washington St, West Orange Twp., NJ 07052
      View Details
    • $1.00 SF/Yr

      Spacious Renovated 4-Bedroom Apartment

      Renovated 4-bedroom apartment in West Orange, immediate occupancy.
      96 Harrison Ave, West Orange Twp., NJ 07052-5914
      View Details
    • Contact for pricing
      3,324 SF

      Retail Space in Community Center

      Retail space available in high-traffic community center anchored by Whole Foods.
      235 Prospect Ave, West Orange, NJ
      View Details
    • Contact for pricing
      2,500 SF

      West Orange Medical Office Space

      2,500 SF medical office with full basement and storage.
      85 Washington St, West Orange, NJ
      View Details
    • Contact for pricing
      1,923 SF

      Medical Office Space Available

      Medical office space with ample parking and golf course views.
      405 Northfield Ave, West Orange, NJ
      View Details
    • Contact for pricing
      1,267 SF

      Retail Space in Renovated Center

      Multi-level retail space in West Orange community center.
      495 Prospect Ave, West Orange, NJ
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 54,799 SF building with suites from 650-24,624 SF available.
    Where is this medical office space located?
    The property is located at 414 Eagle Rock Ave West Orange, NJ.
    What is the lease rate?
    The lease rate is $23 SF/Yr.
    What are key features of this property?
    This property features: Excellent location just off Route 280, next to the New York City Observatory and Eagle Rock Reservation.; Excellent views of the New York City skyline.; Capital improvements almost completed, including new LED lighting, carpeting, ceiling tiles, wallcoverings, restroom upgrades, and elevator refurbishment.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Darren Lizzack
    Real Estate License ID: NJ 9806280
    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
    414 Eagle Rock Ave, West Orange, 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!