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    99 Lewis St Perth Amboy, NJ 08861
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    99 Lewis St Perth Amboy, NJ 08861

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    Property Details for 99 Lewis St

    Property type
    Apartment buildings

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Perth Amboy
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2702
    Latitude
    40.5014

    Comparable in this City

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      0.29 Acres

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    • Value Estimation
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      3,220 SF

      200 Madison Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,220 SF
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    • Value Estimation by Request
      2,340 SF

      76 Broad St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,340 SF
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    • Value Estimation
      $980,000
      6,104 SF

      695 Charles St

      APARTMENT HOUSE (UNDER 5 UNITS) • 6,104 SF
      695 Charles St, Perth Amboy, NJ 08861-2856
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    • Value Estimation
      $615,000
      3,780 SF

      345-347 Grv St, Unit 347

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,780 SF
      345-347 Grv St, Perth Amboy, NJ 08861-2620
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    • Value Estimation by Request
      2,270 SF

      532 Johnstone St

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,270 SF
      532 Johnstone St, Perth Amboy, NJ 08861-3395
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    Similar Nearby for Sale

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      7,072 SF

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      Established Grocery Store with Apartment

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      Leased Mixed-Use Commercial Building

      Fully leased mixed-use building in thriving Perth Amboy, New Jersey.
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      Mixed-Use Building with Garage Spaces

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      Mixed-Use Building in Prime Location

      Mixed-use property with grocery store and residential units for sale.
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      Mix-Use Property: Investment Opportunity

      Mix-use property with bar, restaurant, and apartments for sale.
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    Similar Nearby for Lease

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      Retail Space in Neighborhood Center

      2,813 SF retail space available in Perth Amboy, NJ.
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      4,500 SF

      Industrial Warehouse Space For Rent

      4,500 square foot industrial warehouse space available for lease.
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    • $4,100 /Mo

      Commercial Land in Perth Amboy

      Commercial opportunity with office space, parking, shop, and storage.
      70 Fayette St, Perth Amboy, NJ 08861
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    • Contact for pricing

      High-Visibility Commercial Space Available

      Prime location in Perth Amboy, ideal for retail or office.
      653 New Brunswick Ave, Perth Amboy, NJ 08861
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    • Contact for pricing
      10,700 SF

      Industrial Space with Multiple Doors

      10,700 SF industrial space featuring 11 drive-in and dock doors.
      440 Florida Grove Rd, Perth Amboy, NJ 08861
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    Perth Amboy, NJ 08861
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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.

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