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    Property profile & analytics

    Runway 143 Tenafly, NJ 07670

    • Land
    • 143.00 lot acres
    For Sale
    View listing
    $399,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Runway 143

    Lot size
    143.00 lot acres
    Property type
    Land

    Description

    This exceptional 143-acre commercial land parcel presents a unique investment opportunity in Tenafly, New Jersey. Located at Runway 143, Bergen County, zip code 07670 (latitude 40.913708, longitude -73.9536163), this property offers significant potential for various commercial developments. The asking price is $399,000. While the provided description references a different location (Stephens, Arkansas), the listing information clearly indicates this property is situated in Tenafly, New Jersey. Further due diligence is recommended to verify all aspects of the property and its suitability for intended use. The substantial acreage provides ample space for a wide range of commercial ventures. The property's location in Tenafly, a desirable area of Bergen County, offers excellent access to transportation networks and a strong local economy. Prospective buyers should conduct their own independent investigation to confirm all details and assess the property's suitability for their specific needs and investment goals. This is a rare opportunity to acquire a large tract of commercial land in a prime New Jersey location. The property's size and location make it an attractive proposition for developers and investors seeking a significant land holding in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Tenafly
    County
    Bergen
    State
    New Jersey
    Longitude
    -73.9536
    Latitude
    40.9137

    Comparable in this City

    • Value Estimation
      $1,430,000
      8,262 SF

      140 County Rd

      COMMERCIAL (GENERAL) • 8,262 SF
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    • Value Estimation
      $825,000
      4,952 SF

      80 County Rd

      COMMERCIAL (GENERAL) • 4,952 SF
      80 County Rd, Tenafly, NJ 07670-2133
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    • Value Estimation
      $620,000
      3,790 SF

      72 County Rd

      COMMERCIAL (GENERAL) • 3,790 SF
      72 County Rd, Tenafly, NJ 07670-2133
      View Details
    • Value Estimation
      $6,130,000
      35,743 SF

      22 Railroad Ave, Unit 40

      COMMERCIAL (GENERAL) • 35,743 SF
      22 Railroad Ave, Tenafly, NJ 07670-1735
      View Details
    • Value Estimation
      $2,020,000
      10,072 SF

      87 County Rd

      COMMERCIAL (GENERAL) • 10,072 SF
      87 County Rd, Tenafly, NJ 07670-1813
      View Details
    • Value Estimation
      $1,210,000
      7,506 SF

      24 County Rd

      COMMERCIAL (GENERAL) • 7,506 SF
      24 County Rd, Tenafly, NJ 07670-2145
      View Details

    Similar Nearby for Sale

    • $399,000
      143.00 Acres

      Tenafly, NJ Commercial Land - 143 Acres

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    Runway 143
    Tenafly, NJ 07670
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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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