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

    11 Dundar Rd Springfield, NJ 07081

    • Commercial real estate
    • 14,000 SF
    • 0.56 lot acres
    For Lease
    View listing
    $2,500 /Mo
    Last Sale
    Sep 25, 2024
    $1,800,000
    Value Estimations
    $1,800,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2021332
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Giusto Thomas J DDS / Dental Office
    • Confidential Behavioral Care / Physician
    • Olubunmi Adetule / Physician
    • Vocational Consulting Group / Counselor
    • Emmanuel Anyanwu / Physician

    Property Details for 11 Dundar Rd

    Year built
    1986
    Construction
    CONCRETE BLOCKS
    Lot size
    0.56 lot acres
    Property size
    14,000 SF
    Property type
    Commercial real estate
    APN
    17 03903-0000-00006
    APU
    1703903000000006

    Description

    This exceptional 1,196 square foot executive office suite is located on the second floor of an established Class B office building at 11 Dundar Road, Springfield Township, NJ 07081. The building, situated on a 0.56-acre lot, offers a professional environment with a diverse tenant mix including medical professionals and accountants. This particular suite is immediately available for lease and presents a fantastic opportunity for a business seeking a well-maintained space in a desirable location. The building itself totals 14,000 square feet and is a two-story structure. The suite's size makes it ideal for a variety of businesses, offering ample space for both individual offices and collaborative work areas. Its location in Union County provides easy access to major transportation routes, ensuring convenient commutes for employees and clients. The building's existing tenant base suggests a strong and stable community of professionals. This is a multiple tenancy building, offering a vibrant and collaborative atmosphere. The property is classified as an Executive Office, reflecting its high-quality finishes and professional ambiance. Don't miss this chance to secure this prime office space in a thriving business community. Inquire today to schedule a viewing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,800,000
      ML approach
      $1,800,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,251,000
      Market price range: $848k - $2.46M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.3314
    Latitude
    40.6842
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $53,222
    $1,120,000
    $1,120,000
    $2,240,000
    -
    $1,120,000
    $1,120,000
    $2,240,000

    Comparable in this City

    • Value Estimation
      $1,120,000
      8,858 SF

      243 Morris Ave

      COMMERCIAL (GENERAL) • 8,858 SF
      243 Morris Ave, Springfield, NJ 07081-1234
      View Details
    • Value Estimation
      $2,585,000
      13,148 SF

      Morris Ave

      COMMERCIAL (GENERAL) • 13,148 SF
      Morris Ave, Springfield, NJ 07081
      View Details
    • Value Estimation by Request
      2,552 SF

      174 Mtn Ave

      COMMERCIAL (GENERAL) • 2,552 SF
      174 Mtn Ave, Springfield, NJ 07081-1705
      View Details
    • Value Estimation
      $1,625,000
      10,563 SF

      222 Mtn Ave, Unit 234

      COMMERCIAL (GENERAL) • 10,563 SF
      222 Mtn Ave, Springfield, NJ 07081-2211
      View Details
    • Value Estimation
      $3,560,000
      17,988 SF

      201 Shunpike Rd

      COMMERCIAL (GENERAL) • 17,988 SF
      201 Shunpike Rd, Springfield, NJ 07081-2159
      View Details
    • Value Estimation
      $3,240,000
      19,411 SF

      75 Us Hwy 22

      COMMERCIAL (GENERAL) • 19,411 SF
      75 Us Hwy 22, Springfield, NJ 07081-3105
      View Details

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    • $2,500 /Mo
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      Renovated Office Suite For Rent

      Move-in ready, furnished or unfurnished office suite with utilities included.
      11 Dundar Rd, Springfield, NJ 07081
      View Details
    • Contact for pricing
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      Office Building Near Transportation

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      View Details
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    Springfield, NJ 07081
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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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