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    1030 Park Ave Plainfield, NJ 07060

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    1030 Park Ave Plainfield, NJ 07060

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    • Office properties & Spaces

    Property Details for 1030 Park Ave

    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Plainfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.41
    Latitude
    40.6101

    Comparable in this City

    • Value Estimation
      $795,000
      0.62 Acres

      190 Greenbrook Rd

      MEDICAL BUILDING • 0.62 Acres
      190 Greenbrook Rd, North Plainfield, NJ 07060-3903
      View Details
    • Value Estimation by Request

      1030 Park Ave

      Office properties & Spaces
      1030 Park Ave, Plainfield, NJ 07060
      View Details
    • Value Estimation
      $1,070,000
      679 SF

      1010 Park Ave, Unit 18

      CONDOMINIUM OFFICES • 679 SF
      1010 Park Ave, Plainfield, NJ 07060-3024
      View Details
    • Value Estimation by Request
      814 SF

      1020 Park Ave, Unit 6C

      CONDOMINIUM OFFICES • 814 SF
      1020 Park Ave, Plainfield, NJ 07060-3005
      View Details
    • Value Estimation
      $1,085,000
      13,038 SF

      1010 Park Ave Ste, Unit 1

      CONDOMINIUM OFFICES • 13,038 SF
      1010 Park Ave Ste, Plainfield, NJ 07060-3014
      View Details
    • Value Estimation by Request
      0.76 Acres

      1314 Park Ave Ste, Unit 4

      CONDOMINIUM OFFICES • 0.76 Acres
      1314 Park Ave Ste, Plainfield, NJ 07060-3253
      View Details

    Similar Nearby for Sale

    • $325,000
      1,200 SF

      1030 park Avenue, Plainfield, NJ 07060

      Medical Office Space • 1,200 SF
      1030 Park Ave, Plainfield, NJ 07060
      View Details
    • $325,000
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      Plainfield Office Space For Sale

      1200 sq ft office space suitable for professional services.
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    • $1,500,000

      Turnkey Residential Healthcare Facility

      Operating residential healthcare facility for sale near Route 22.
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    • $1,400,000
      4,588 SF

      Turnkey Residential Healthcare Facility

      Established income potential near Route 22 and local amenities.
      600 Central Ave, Plainfield, NJ 07060
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    • $1,500,000
      6,144 SF

      Turnkey Healthcare Facility Opportunity

      Established residential healthcare facility for sale near Route 22.
      518 Central Ave, Plainfield, NJ 07060
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    • Contact for pricing
      8,200 SF

      North Plainfield Office Building

      8,200 SF office building with high visibility and parking.
      190 Greenbrook Rd, North Plainfield, NJ 07060
      View Details

    Similar Nearby for Lease

    • $500 /Mo

      Renovated Offices in Downtown District

      Private offices for rent in a renovated downtown building.
      339 Somerset St, Plainfield, NJ 07060
      View Details
    • Contact for pricing

      Renovated Office Spaces Available

      Newly renovated office building with flexible rental options.
      339 Somerset St, North Plainfield, NJ 07060
      View Details
    • Contact for pricing
      3,176 SF

      Retail/Office Space with Highway Exposure

      Retail or office space with high traffic and permitted uses.
      1292 Us Highway 22, North Plainfield, NJ 07060
      View Details
    • Contact for pricing

      Warren Township Office Space Available

      Office units available for rent in Warren Corporate Center Drive.
      300 Warren Corporate Ctr Dr, Plainfield, NJ 07060
      View Details
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    1030 Park Ave
    Plainfield, NJ 07060
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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
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