Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    62 Oak Rdg Rd West Milford, NJ 07435

    • Specialty properties
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 62 Oak Rdg Rd

    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional commercial property at 62 Oak Ridge Rd, Newfoundland, NJ 07435, presents a unique investment opportunity. Priced at $149,000, this offering encompasses a successful, established restaurant business and the land it sits on. The property is classified as special purpose, commercial land with zero units. Located in Passaic/West Milford Township, this property benefits from its established presence within the local community. The exact square footage of the building and land are not specified, however, the asking price reflects the value of both the existing business and the underlying real estate. This turnkey operation offers immediate income potential for a savvy buyer looking to enter the restaurant industry or expand their existing portfolio. The property's address is 62 Oak Ridge Rd, Newfoundland, New Jersey, and its precise geographic coordinates are 41.0524405 latitude and -74.4625106 longitude. This is a rare chance to acquire a profitable, established business with the added benefit of owning the land. Serious inquiries are encouraged to explore this promising venture further. Further details regarding the business financials and operational aspects are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    West Milford
    County
    Passaic / West Milford Township
    State
    New Jersey
    Longitude
    -74.4625
    Latitude
    41.0524

    Comparable in this City

    • Value Estimation by Request
      0.48 Acres

      39 Oak Rdg Rd

      COMMERCIAL (GENERAL) • 0.48 Acres
      39 Oak Rdg Rd, Newfoundland, NJ 07435-1403
      View Details
    • Value Estimation by Request
      2.46 Acres

      2950 State Rt 23

      COMMERCIAL (GENERAL) • 2.46 Acres
      2950 State Rt 23, Newfoundland, NJ 07435-1436
      View Details
    • Value Estimation by Request
      750 SF

      2713 Rte 23

      Commercial real estate • 750 SF
      2713 Rte 23, Newfoundland, NJ 07435
      View Details
    • Value Estimation by Request
      2.85 Acres

      Bigelow Rd

      COMMERCIAL (GENERAL) • 2.85 Acres
      Bigelow Rd, Newfoundland, NJ 07435
      View Details
    • Value Estimation by Request
      2,428 SF

      7 Clinton Rd

      COMMERCIAL (GENERAL) • 2,428 SF
      7 Clinton Rd, Newfoundland, NJ 07435-1426
      View Details
    • Value Estimation
      $555,000
      1.34 Acres

      52 Oak Rdg Rd

      COMMERCIAL (GENERAL) • 1.34 Acres
      52 Oak Rdg Rd, Newfoundland, NJ 07435-1402
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.95 Acres

      Newfoundland Commercial Space - Prime Location

      High-visibility corner unit, move-in ready. Retail or office ideal.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • Contact for pricing

      Newfoundland Commercial Office Space

      Prime location, ample parking, 300+ sq ft.
      2713 State Rt 23, Newfoundland, NJ 07435
      View Details

    Similar Nearby for Lease

    • $800 /Mo

      Commercial Space in West Milford

      Commercial property available for rent in West Milford Township, NJ.
      2713 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $1,300 /Mo
      41,382 SF

      West Milford Retail/Office Space

      High visibility corner unit, move-in ready, ideal for retail or office.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $1,300 /Mo

      High Visibility Corner Unit

      Retail or office space with two entrances and ample parking.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $2,150 /Mo
      19,166 SF

      Route 23 Retail Opportunity

      Well-maintained retail unit with high visibility on Route 23.
      2915 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $1,800 /Mo
      58,370 SF

      West Milford Turnkey Office Space

      Entry-level, professionally managed office space suitable for medical use.
      7 Oak Rdg Rd, Newfoundland, NJ 07435
      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.
    62 Oak Rdg Rd
    West Milford, NJ 07435
    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.