Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    278 N Day St, Unit City of Orange, NJ 07050

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $399,000

    Vacant, fenced commercial land suitable for various uses.

    Lot size:
    0.14 Acres

    Property Features for 278 N Day St

    General Information

    Lot size
    0.14 Acres

    We can help!

    Listing Contact
    Juan Disla
    Source: Moodyscre

    Listing Agent: Juan Disla

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Land For Lease

    This commercial land, totaling approximately 10.14 acres, is available for lease. Identified as Block 1006, Lot 18, the vacant land is fenced. The property is zoned for commercial use and is suitable for auto dealers, car, bus, and truck parking, outdoor storage, and equipment yards. The taxes for 2024 were $3,469.84.
    Location Intelligence

    Current Use by Public Records

    Lele's Used Cars Used Car Dealer

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.224544
    Latitude
    40.779158

    Nearby Similar for Lease

    • $2,100 /Mo

      Second-Floor Apartment Near Train Station

      Two-bedroom apartment in mixed-use building near transportation and amenities.
      537 Scotland Rd, Orange, NJ 07050
      View Details
    • $2,400 /Mo

      Renovated Apartment Near Transportation

      Recently renovated 2-bedroom apartment near NYC transportation.
      664 Valley St, Orange, NJ 07050
      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 07050
      View Details
    • $1,800 /Mo

      Convenient 2-Bedroom Apartment Available Now

      Comfortable 2-bedroom apartment in commuter-friendly area, available for immediate occupancy.
      165 Central Pl, Orange, NJ 07050
      View Details
    • $2,800 /Mo

      Retail Space Near Train Station

      Retail space for rent near train station with high traffic.
      528 Scotland Rd, Orange, NJ 07050
      View Details
    • $2,400 /Mo

      Renovated Two-Bedroom Apartment in Orange

      Recently renovated two-bedroom apartment with modern features and convenient location.
      546 Morris St, Orange, NJ 07050
      View Details
    • $3,500 /Mo

      Restaurant Space For Rent

      Restaurant space with existing kitchen, near train and bus.
      526 Scotland Rd, Orange, NJ 07050
      View Details
    • $3,500 /Mo

      Commercial Retail Space For Rent

      2300 sq ft commercial space suitable for retail or warehouse.
      79 Central Ave, Orange, NJ 07050
      View Details
    • $2,300 /Mo

      Spacious Two Bedroom Unit

      Two-bedroom unit with fresh paint and private enclosed porch.
      170 Taylor St, Orange, NJ 07050
      View Details
    • $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
      12,944 SF

      West Orange Office Space Available

      Four-story office building with restaurant, bank, and fitness center.
      300 Executive Dr W, Orange, NJ
      View Details
    • $2,500 /Mo

      Renovated Apartment for Rent

      Recently renovated apartment featuring new kitchen, bath, and floors.
      522 Chestnut St, Orange, NJ 07050
      View Details

    FAQs

    What type of property is this?
    Land - Vacant, fenced commercial land suitable for various uses.
    Where is this land located?
    The property is located at 278 N Day St, Unit City of Orange, NJ.
    What are key features of this property?
    This property features: - Zoned for Commercial Use, providing flexibility for various business operations.; - Ideal for Auto Dealers, Car/Bus/Truck Parking, Outdoor Storage, Equipment Yard.; - Vacant Land: Offers a blank canvas for development or immediate use.
    (973) 379-6644
    Request Owner's contact information
    278 N Day St, Unit City of Orange, NJ 07050
    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.
    278 N Day St, Unit City of
    Orange, NJ 07050
    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
    278 N Day St, Unit City of Orange, NJ 07050
    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

    We can help!
    Listing Contact
    Juan Disla
    Real Estate License ID: NJ 0342515
    (973) 379-6644
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.