Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    118 2nd Ave, Unit 20 Roselle, NJ 07203-1279

    • Commercial real estate
    • 160,000 SF
    • 0.21 lot acres
    OFF-MARKET
    Value Estimations
    $5,315,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1910906
    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

    • Cool Runnings Cuisine / Jamaican Restaurant / Caribbean Restaurant

    Property Details for 118 2nd Ave

    Year built
    1900
    Construction
    FRAME
    Lot size
    0.21 lot acres
    Property size
    160,000 SF
    Zone code
    B
    Property type
    Commercial real estate
    APN
    14 03101-0000-00002
    APU
    1403101000000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,808,000
      Market price range: $974k - $23.4M

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

    Location Insight

    • Map
    • Local Demand
    City
    Roselle
    County
    Union
    State
    New Jersey
    Longitude
    -74.2623
    Latitude
    40.6586
    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
    2022
    $17,832
    $107,400
    $101,500
    $208,900
    -
    $107,400
    $101,500
    $208,900

    Comparable in this City

    • Value Estimation by Request
      2.48 Acres

      564 Raritan Rd, Unit 586

      COMMERCIAL (GENERAL) • 2.48 Acres
      564 Raritan Rd, Roselle, NJ 07203-2446
      View Details
    • Value Estimation by Request
      2.09 Acres

      1235 Saint George Ave

      COMMERCIAL (GENERAL) • 2.09 Acres
      1235 Saint George Ave, Roselle, NJ 07203-2805
      View Details
    • Value Estimation by Request
      0.17 Acres

      415 1st Ave

      COMMERCIAL (GENERAL) • 0.17 Acres
      415 1st Ave, Roselle, NJ 07203-1360
      View Details
    • Value Estimation
      $1,025,000
      6,378 SF

      114 1st Ave

      COMMERCIAL (GENERAL) • 6,378 SF
      114 1st Ave, Roselle, NJ 07203-1204
      View Details
    • Value Estimation by Request
      1,907 SF

      605 1st Ave

      COMMERCIAL (GENERAL) • 1,907 SF
      605 1st Ave, Roselle, NJ 07203-1004
      View Details
    • Value Estimation
      $670,000
      0.06 Acres

      522 2nd Ave

      COMMERCIAL (GENERAL) • 0.06 Acres
      522 2nd Ave, Roselle, NJ 07203-1487
      View Details

    Similar Nearby for Sale

    • New
      $649,900
      2,324 SF

      Spacious Two-Family Home in Roselle

      Large 2-family home with income potential, convenient location.
      1025 Rivington St, Roselle, NJ 07203
      View Details
    • $690,000
      3,750 SF

      3750SF Facility with Office Space

      Flex/Industrial/Office space featuring drive-in door, gas heat, and parking.
      407 Hope Ave, Roselle, NJ 07203
      View Details
    • $249,900
      0.75 Acres

      Roselle Boro Land For Sale

      Land available in Roselle Boro, New Jersey.
      431 W 1St Ave, Roselle, NJ 07203
      View Details
    • $719,999

      Roselle Multifamily Investment Opportunity

      Multifamily property for sale in Roselle, New Jersey.
      1204 Warren St, Roselle, NJ 07203
      View Details
    • Contact for pricing

      Roselle Apartment Building For Sale

      35-unit apartment building in Roselle, NJ with tax PILOT.
      533 East 2Nd Ave, Roselle, NJ 07203
      View Details
    • $250,000

      Established Farmers' Market For Sale

      Well-established farmers' market with high sales volume and growth potential.
      711 1St Ave, Roselle, NJ 07203
      View Details

    Similar Nearby for Lease

    • $1,550 /Mo

      Renovated 2 Bedroom Apartment

      Renovated 2-bedroom apartment with private entrance on the first floor.
      317 Amsterdam Ave, Roselle, NJ 07203
      View Details
    • $1,400 /Mo

      Roselle Apartment with New Amenities

      One-bedroom apartment featuring a new kitchen and bathroom.
      1126 Rivington St, Roselle, NJ 07203
      View Details
    • $2,300 /Mo

      Roselle Office or Retail Space

      Office or retail space in the heart of Roselle.
      252 W 1St Ave, Roselle, NJ 07203
      View Details
    • Contact for pricing
      13,000 SF

      Roselle Warehouse with Vehicle Maintenance

      Secured, fenced site with vehicle maintenance building. Ideal storage.
      120 Aldene Rd, Roselle, NJ 07203
      View Details
    • $4,478,880
      15,996 SF

      Roselle Warehouse Space Available

      15,996 SF warehouse space for lease in Roselle.
      300 Cox St, Roselle, NJ 07203
      View Details
    • $31 SF/Yr
      1,600 SF

      Roselle Industrial Property with Yard

      1,600 SF flex/industrial warehouse with secure fenced yard.
      231 E 1St Ave, Roselle, NJ 07203
      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.
    118 2nd Ave, Unit 20
    Roselle, NJ 07203-1279
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.