Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    66-88 Hecker St Newark, NJ 07103

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    66-88 Hecker St Newark, NJ 07103

    View on Map
    • Warehouses
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 66-88 Hecker St

    Property type
    Warehouses
    Property subtype
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1847
    Latitude
    40.7474

    Comparable in this City

    • Value Estimation by Request
      8,400 SF

      383 11Th St

      Distribution properties • 8,400 SF
      383 11Th St, Newark, NJ 07103
      View Details
    • Value Estimation by Request

      Newark Nj

      Land
      0 Newark Nj, Newark, NJ 07103
      View Details
    • Value Estimation by Request

      468 18Th Ave

      Retail properties & Spaces
      468 18Th Ave, Newark, NJ 07103
      View Details
    • Value Estimation by Request

      63 Pierce St

      Land
      63 Pierce St, Newark, NJ 07103
      View Details
    • Value Estimation by Request
      0.21 Acres

      383-387 11th St, Unit 387

      INDUSTRIAL (GENERAL) • 0.21 Acres
      383-387 11th St, Newark, NJ 07103-1912
      View Details
    • Value Estimation
      $655,000
      0.62 Acres

      738 13th St, Unit 758

      INDUSTRIAL (GENERAL) • 0.62 Acres
      738 13th St, Newark, NJ 07103-1712
      View Details

    Similar Nearby for Sale

    • $295,000

      Buildable Lot with Mixed-Use Plans

      Land with approved plans for a 5-unit mixed-use building.
      510 South Orange St, Newark, NJ 07103
      View Details
    • $295,000
      Pending

      Buildable Lot in Newark City

      Buildable lot with plans for a mixed-use building.
      510 So Orange Ave, Newark, NJ 07103
      View Details
    • $1,600,000

      Development Opportunity in University Heights

      Approved for 27 units and 5,500 SF commercial space.
      295 Morris Ave, Newark, NJ 07103
      View Details
    • New
      $280,000
      0.05 Acres

      Newark City Development Opportunity

      Land parcel in University Heights, Newark, ideal for urban development.
      277 Orange St, Newark, NJ 07103
      View Details
    • New
      $259,000
      0.06 Acres

      Cleared Lot with Approved Plans

      Cleared lot with architectural plans for a two-family home.
      478 S 10Th St, Newark, NJ 07103
      View Details

    Similar Nearby for Lease

    • $1,999 /Mo

      Retail Space in Mixed-Use Building

      1,132 sq ft retail space in Newark for lease.
      549 S Orange Ave, Newark, NJ 07103
      View Details
    • Contact for pricing
      807 SF

      Mixed-Use Development with ShopRite Anchor

      Mixed-use development anchored by ShopRite with upcoming Popeyes.
      202-220 Springfield Ave, Newark, NJ 07103
      View Details
    • $2,995 /Mo

      New 4-Bedroom Units Available

      New units with spacious layout, modern design, and parking.
      138 Littleton Ave, Newark, NJ 07103
      View Details
    • $2,250 /Mo

      Renovated Three-Bedroom Apartment Available

      Spacious, renovated 3-bedroom apartment with modern amenities, move-in ready.
      489 S 17Th St, Newark, NJ 07103
      View Details
    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.
    66-88 Hecker St
    Newark, NJ 07103
    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!