Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    115 Orange Ave South Orange, NJ 07079-1901

    Property Lookup

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

    115 Orange Ave South Orange, NJ 07079-1901

    View on Map
    • Commercial real estate
    • 11,380 SF
    • 0.25 lot acres
    Off-Market
    Property ID
    US59-1209137
    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.
    Value Estimations
    $2,265,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • BayLeaf Redefined Indian Cuisine / Restaurant

    Property Details for 115 Orange Ave

    Construction
    BRICK
    Lot size
    0.25 lot acres
    Property size
    11,380 SF
    Zone code
    CBRZ
    Property type
    Commercial real estate
    APN
    19 01007-0000-00023
    APU
    1901007000000023

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,615,000
      6.5%
      $2,415,000
      7%
      $2,245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,786,000
      Market price range: $920k - $2.64M

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

    Location Insight

    • Map
    • Local Demand
    City
    South Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2569
    Latitude
    40.7458
    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
    $74,024
    $630,900
    $1,579,900
    $2,210,800
    -
    $630,900
    $1,579,900
    $2,210,800

    Comparable in this City

    • Value Estimation
      $2,035,000
      11,662 SF

      307 Irvington Ave

      COMMERCIAL (GENERAL) • 11,662 SF
      307 Irvington Ave, South Orange, NJ 07079-2562
      View Details
    • Value Estimation
      $3,980,000
      15,651 SF

      305 Ridgewood Rd

      COMMERCIAL (GENERAL) • 15,651 SF
      305 Ridgewood Rd, South Orange, NJ 07079-1619
      View Details
    • Value Estimation
      $3,560,000
      25,000 SF

      219 Vly St

      COMMERCIAL (GENERAL) • 25,000 SF
      219 Vly St, South Orange, NJ 07079-2803
      View Details
    • Value Estimation
      $910,000
      4,782 SF

      200 Vly St

      COMMERCIAL (GENERAL) • 4,782 SF
      200 Vly St, South Orange, NJ 07079-2804
      View Details
    • Value Estimation
      $645,000
      3,360 SF

      347 Vly St

      COMMERCIAL (GENERAL) • 3,360 SF
      347 Vly St, South Orange, NJ 07079-2805
      View Details
    • Value Estimation
      $800,000
      3,672 SF

      358 Orange Ave

      COMMERCIAL (GENERAL) • 3,672 SF
      358 Orange Ave, South Orange, NJ 07079-2567
      View Details

    Similar Nearby for Sale

    • $899,000

      Updated Duplex Near NYC Transit

      Well-maintained duplex near Seton Hall and NYC transit.
      330 Academy St, South Orange, NJ 07079
      View Details
    • Contact for pricing
      5,532 SF

      Turnkey Restaurant Opportunity in Downtown

      Two-story, fully equipped restaurant near train station, delivered vacant.
      15 S Orange Ave, South Orange, NJ 07079
      View Details
    • Contact for pricing

      Oversized Garage in South Orange

      Rare opportunity: large garage near South Orange Village center.
      161 Church St, South Orange, NJ 07079
      View Details
    • $699,000

      Vacant Lot Near Train Station

      Large vacant lot near South Orange Train Station and downtown.
      114 Irving Ave, South Orange, NJ 07079
      View Details
    • $1,350,000

      South Orange Mixed-Use Corner Gem

      Mixed-use building with renovated apartments and office storefronts near NYC transit.
      101 2Nd St, South Orange, NJ 07079
      View Details

    Similar Nearby for Lease

    • $2,850 /Mo

      Renovated Three-Bedroom Apartment For Rent

      Recently renovated 3-bedroom apartment with dedicated parking and laundry.
      6 Lackawanna Pl, South Orange, NJ 07079
      View Details
    • $1,000 /Mo

      Professional Office Space Available

      Office space with three offices, half bath, and kitchenette.
      155 Kilburn Pl, South Orange, NJ 07079
      View Details
    • Contact for pricing

      Versatile Office Space in South Orange

      Two-floor office space near South Orange Train Station.
      15 Valley St, South Orange, NJ 07079
      View Details
    • $1,000 /Mo

      Professional Office Space For Rent

      Office space with kitchenette and half bath in South Orange.
      155 Kilburn Pl, South Orange, NJ 07079
      View Details
    • $3,600 /Mo

      Victorian Duplex Near South Orange

      Victorian duplex near train, shopping, restaurants, and Seton Hall.
      66 3Rd St, South Orange, NJ 07079
      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.
    115 Orange Ave
    South Orange, NJ 07079-1901
    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!