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    239 Harrison Ave Harrison, NJ 07029

    • Commercial real estate
    For Sale
    View listing
    $99,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 239 Harrison Ave

    Property type
    Commercial real estate

    Description

    This exceptional business opportunity presents a turnkey operation in a high-traffic area of Harrison, New Jersey. Located at 239 Harrison Ave, 07029, this established Perfume, Gift, and Tailor Shop is offered at an asking price of $99,000. The business includes all existing inventory, allowing for immediate revenue generation upon acquisition. The current owner-user model provides a seamless transition for the new owner. The attractive monthly lease of $1,100 offers significant value considering the prime location and established clientele. This is an ideal investment for an entrepreneur seeking a profitable, established business with immediate earning potential. The shop's diverse offerings cater to a broad customer base, ensuring consistent sales. The convenient location in Hudson County, New Jersey, provides excellent accessibility and visibility. This is a rare opportunity to acquire a well-established business with a strong foundation for continued growth and success. All aspects of the business are included in the sale price, making this a truly turnkey operation. The low monthly lease payment further enhances the profitability and attractiveness of this investment. Serious inquiries are encouraged to explore this exceptional business opportunity.

    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
    -74.1585
    Latitude
    40.746

    Comparable in this City

    • Value Estimation
      $290,000
      1,082 SF

      560 Cross St, Unit 217

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,082 SF
      560 Cross St, Harrison, NJ 07029-1251
      View Details
    • Value Estimation
      $290,000
      1,082 SF

      560 Cross St, Unit 218

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,082 SF
      560 Cross St, Harrison, NJ 07029-1251
      View Details
    • Value Estimation
      $295,000
      1,082 SF

      560 Cross St, Unit 207

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,082 SF
      560 Cross St, Harrison, NJ 07029-1251
      View Details
    • Value Estimation
      $355,000
      1,082 SF

      560 Cross St, Unit 208

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,082 SF
      560 Cross St, Harrison, NJ 07029-1251
      View Details
    • Value Estimation
      $300,000
      1,044 SF

      540 Cross St, Unit 105

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,044 SF
      540 Cross St, Harrison, NJ 07029-1249
      View Details
    • Value Estimation
      $285,000
      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

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    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.

    More about this property
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