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    897 Black Oak Ridge Rd Wayne, NJ 07470

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    For Sale
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    1.5 Acres, B-Zoned Development Site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 1.5-acre commercial land parcel presents a unique development opportunity in Wayne, New Jersey. Located at the signalized intersection of Black Oak Ridge Road and Pompton Plains Crossroad, this B-zoned property offers high visibility and accessibility. The site is ideal for a variety of commercial uses, including banks, retail establishments, restaurants, offices, dance studios, martial arts facilities, adult day care centers, auto repair shops, and indoor amusement centers. The 2021/2022 tax assessment valued the land at $251,000, with improvements assessed at $0, resulting in a total assessment of $251,000. The tax rate is $5.64 per $100 of assessed value, yielding annual property taxes of $14,176.48. This property is well-suited for a joint venture or build-to-suit project. Its prime location and versatile zoning make it an attractive investment for developers seeking a high-impact commercial development site in a thriving New Jersey market. The property's address is 897 Black Oak Ridge Rd, Wayne, NJ 07470.

    Property Features for 897 Black Oak Ridge Rd

    General Information

    Property type
    Land
    Lot Size
    65,340 SF

    HighLights

    • High‑traffic corner lot with signalized intersection.
    • Excellent development opportunity.
    • Joint venture or build‑to‑suit options available.
    • 2021/2022 assessed value.
    • Land value: $251,000.
    • Improvements valued at $0.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.272328
    Latitude
    40.97033

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    FAQs

    What type of property is this?
    Land - 1.5 Acres, B-Zoned Development Site
    Where is this land located?
    The property is located at 897 Black Oak Ridge Rd Wayne, NJ.
    What are key features of this property?
    This property features: High-traffic corner lot with signalized intersection.; Excellent development opportunity.; Joint venture or build-to-suit options available.
    Request Owner's contact information
    897 Black Oak Ridge Rd Wayne, NJ 07470
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    Wayne, NJ 07470
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    Realmo Value Estimation

    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.

    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.

    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
    897 Black Oak Ridge Rd Wayne, NJ 07470
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