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    123456 Harrison, NJ 07029
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    123456 Harrison, NJ 07029

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    • Apartment buildings
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    • Apartment buildings

    Property Details for 0 123456

    Property type
    Apartment buildings

    Description

    This exceptional multifamily investment opportunity comprises a portfolio of 21 units spread across six buildings strategically located in Harrison, Belleville, Bloomfield, and Elizabeth, New Jersey. The portfolio presents a compelling investment proposition with a current cap rate of 6%, offering immediate cash flow. The buildings are situated in a desirable area of Hudson County and surrounding areas, providing convenient access to major transportation routes and amenities. The portfolio's strong occupancy rates and stable rental income stream contribute to its attractive financial profile. This is an ideal acquisition for investors seeking a diversified multifamily portfolio with significant potential for value appreciation and increased income. The property is well-maintained and presents an opportunity for further income enhancement through various value-add strategies. Detailed financial statements and property-specific information are available upon request. The portfolio's location in thriving New Jersey communities ensures strong tenant demand and long-term stability. This is a rare opportunity to acquire a well-positioned, income-producing multifamily portfolio in a high-growth market. The portfolio's size and diversification offer both immediate returns and long-term growth potential. The 6% cap rate provides a solid foundation for future investment strategies. This is a turnkey investment ready for immediate ownership and management. The property is located at various addresses in the specified New Jersey towns and the zip code 07029 is associated with at least one of the properties. Further details regarding individual building specifications and financial performance 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
    Harrison
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.1534
    Latitude
    40.7446

    Comparable in this City

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      14,850 SF

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      0.91 Acres

      400 Passaic Ave

      Multifamily properties • 0.91 Acres
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      1,082 SF

      560 Cross St, Unit 208

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,082 SF
      560 Cross St, Harrison, NJ 07029-1251
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    • Value Estimation by Request
      1,044 SF

      540 Cross St, Unit 105

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,044 SF
      540 Cross St, Harrison, NJ 07029-1249
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    • Value Estimation by Request
      1,076 SF

      550 Cross St, Unit 201

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,076 SF
      550 Cross St, Harrison, NJ 07029-1245
      View Details
    • Value Estimation by Request
      1,082 SF

      560 Cross St, Unit 211

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,082 SF
      560 Cross St, Harrison, NJ 07029-1251
      View Details

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    Similar Nearby for Lease

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      1,200 SF

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    123456
    Harrison, NJ 07029
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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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