Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    211-221 3Rd St Passaic, NJ 07055

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    211-221 3Rd St Passaic, NJ 07055

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 211-221 3Rd St

    Property type
    Office properties & Spaces

    Description

    This exceptional commercial property, located at 211-221 3rd Street in Passaic, New Jersey, presents a significant investment opportunity. The building is classified as an office property and is offered at an asking price of $12,000,000. While the precise square footage is not currently available, the property's substantial size and prime location make it an attractive prospect for a variety of businesses. Situated in Passaic, NJ, the building benefits from excellent access to major transportation routes, facilitating convenient commutes for employees and clients alike. The property's address, 211-221 3rd Street, places it within a thriving commercial district, offering high visibility and potential for strong tenant occupancy. Further details regarding the building's internal layout, amenities, and specific features are available upon request. Given the attractive asking price and strategic location, this property represents a compelling investment opportunity for discerning buyers seeking a foothold in the dynamic Passaic commercial real estate market. Interested parties are encouraged to contact us to schedule a viewing and obtain a comprehensive property information package. The absence of lot acreage information does not detract from the property's inherent value and potential. This is a rare opportunity to acquire a substantial office building in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1171
    Latitude
    40.8694

    Comparable in this City

    • Value Estimation by Request
      0.03 Acres

      80 Broadway, Unit 2A

      CONDOMINIUM OFFICES • 0.03 Acres
      80 Broadway, Passaic, NJ 07055-3952
      View Details
    • Value Estimation by Request
      0.08 Acres

      124 Gregory Ave Ste, Unit 302

      CONDOMINIUM OFFICES • 0.08 Acres
      124 Gregory Ave Ste, Passaic, NJ 07055-4856
      View Details
    • Value Estimation by Request
      0.03 Acres

      167 Prospect St, Unit 1

      CONDOMINIUM OFFICES • 0.03 Acres
      167 Prospect St, Passaic, NJ 07055-5128
      View Details
    • Value Estimation by Request
      0.08 Acres

      124 Gregory Ave Ste, Unit 202

      CONDOMINIUM OFFICES • 0.08 Acres
      124 Gregory Ave Ste, Passaic, NJ 07055-4856
      View Details
    • Value Estimation by Request
      0.05 Acres

      124 Gregory Ave Ste, Unit 102

      CONDOMINIUM OFFICES • 0.05 Acres
      124 Gregory Ave Ste, Passaic, NJ 07055-4856
      View Details
    • Value Estimation by Request
      0.03 Acres

      80 Broadway Ste 1b

      CONDOMINIUM OFFICES • 0.03 Acres
      80 Broadway Ste 1b, Passaic, NJ 07055-3952
      View Details

    Similar Nearby for Sale

    • $1,750,000
      4,600 SF

      Mixed-Use Commercial Property with Parking

      Mixed-use commercial property with two buildings and parking in Passaic.
      170 Main Ave, Passaic, NJ 07055
      View Details
    • Contact for pricing
      3,223 SF

      Mixed-Use Investment Opportunity

      Turn-key, renovated mixed-use property with income-producing units and potential.
      976 Main Ave, Passaic, NJ 07055
      View Details
    • Contact for pricing
      5,000 SF

      Passaic Office Space For Rent

      Office space available for lease in Passaic, New Jersey.
      145 Main Ave, Passaic, NJ 07055
      View Details
    • Contact for pricing

      Renovated Mixed-Use Investment Opportunity

      Turn-key property with four units plus billboard income.
      976 Main Ave, Passaic, NJ 07055
      View Details
    • Contact for pricing
      2,940 SF

      Passaic Commercial Property For Sale

      Versatile property with car wash, office space, and basement.
      57 8Th Ave, Passaic, NJ 07055
      View Details
    • Contact for pricing

      Passaic Mixed-Use Commercial Property

      Versatile property with car wash, office space, and basement.
      5-7 8Th St, Passaic, NJ 07055
      View Details

    Similar Nearby for Lease

    • $750 /Mo
      2,614 SF

      Passaic City Office Space

      Second-floor office space suitable for professional services in Passaic City.
      51 Central Ave, Passaic, NJ 07055
      View Details
    • Contact for pricing

      Corner Storefront Office or Retail

      High-visibility corner unit suitable for office or retail use.
      212 Main Ave, Passaic, NJ 07055
      View Details
    • $1,300 /Mo

      Functional Office Space Available

      Second-floor office space suitable for professional services.
      51 Central Ave, Passaic, NJ 07055
      View Details
    • $2,910 /Mo
      6,970 SF

      Passaic City Ground-Floor Office Space

      Ground-floor office with open layout and convenient parking.
      54 Main Ave, Passaic, NJ 07055
      View Details
    • $2,500 /Mo
      2,614 SF

      Passaic City Retail/Office Space

      1,000 sq ft retail/office space in downtown Passaic City.
      51 Central Ave, Passaic, NJ 07055
      View Details
    • $3,500 /Mo

      Move-In Ready Office Space Available

      1,750 sq ft office space with 9 rooms.
      913 Main Ave, Passaic, NJ 07055
      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.
    211-221 3Rd St
    Passaic, NJ 07055
    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.
    Sign Up Successful!
    You now have access to more from Realmo!