Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    170 Ridgedale Ave Morristown, NJ 07960-4000
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    170 Ridgedale Ave Morristown, NJ 07960-4000

    View on Map
    • Commercial real estate
    • 38,910 SF
    • 6.99 lot acres
    Off-Market
    Property ID
    US59-2035984
    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
    $3,410,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Beyer Ford Parts / Auto Parts Store
    • Nielsen Ford of Morristown / Car Dealership
    • Quick Lane / Auto Repair Shop
    • Nielsen Ford of Morristown Service / Auto Repair Shop
    • Nielsen Ford of Morristown Parts / Auto Parts Store

    Property Details for 170 Ridgedale Ave

    Year built
    1986
    Construction
    CONCRETE BLOCKS
    Lot size
    6.99 lot acres
    Property size
    38,910 SF
    Zone code
    I-21
    Property type
    Commercial real estate
    APN
    22 10201-0000-00012
    APU
    2210201000000012

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,760,000
      6.5%
      $4,395,000
      7%
      $4,080,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4656
    Latitude
    40.8064
    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
    $152,099
    $3,994,500
    $3,591,500
    $7,586,000
    -
    $3,994,500
    $3,591,500
    $7,586,000

    Comparable in this City

    • Value Estimation by Request
      0.03 Acres

      35 Spg St

      COMMERCIAL (GENERAL) • 0.03 Acres
      35 Spg St, Morristown, NJ 07960
      View Details
    • Value Estimation by Request

      Natural Gas Line

      COMMERCIAL (GENERAL)
      Natural Gas Line, Morristown, NJ 07960
      View Details
    • Value Estimation by Request
      0.11 Acres

      20 Park Pl Ste, Unit 21

      COMMERCIAL (GENERAL) • 0.11 Acres
      20 Park Pl Ste, Morristown, NJ 07960-7102
      View Details
    • Value Estimation
      $500,000
      0.18 Acres

      20 Community Pl

      COMMERCIAL (GENERAL) • 0.18 Acres
      20 Community Pl, Morristown, NJ 07960-7500
      View Details
    • Value Estimation
      $1,055,000
      9,977 SF

      127 Ss St

      COMMERCIAL (GENERAL) • 9,977 SF
      127 Ss St, Morristown, NJ 07960-4141
      View Details
    • Value Estimation
      $1,095,000
      9,723 SF

      29 Ss St

      COMMERCIAL (GENERAL) • 9,723 SF
      29 Ss St, Morristown, NJ 07960
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.17 Acres

      Morristown Office Space For Lease

      Prime Morristown location, 222 sq ft, all utilities included.
      14 Pine St, Morristown, NJ 07960
      View Details
    • Contact for pricing

      100+ Acre Wetlands Site

      Unique 100+ acre wetlands site in Florham Park, NJ.
      Columbia Tpke, Florham Park, NJ 07960
      View Details
    • $249,000
      1 SF

      Established Tailor Shop in Morristown

      Turnkey tailoring business with loyal clientele and growth potential.
      1 Elm St, Morristown, NJ 07960
      View Details
    • $950,000
      Pending

      Morristown Multi-Family Near Train Station

      Three-unit property near Morristown Train Station with rental income.
      11 King St, Morristown, NJ 07960
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Morristown Retail Space For Rent

      Retail spaces available in premier Morristown location.
      21 Speedwell Ave, Morristown, NJ 07960
      View Details
    • Contact for pricing
      195,630 SF

      Morristown Office Building For Rent

      Morristown office building with immediate highway access and ample parking.
      445 South St, Morristown, NJ 07960
      View Details
    • Contact for pricing
      17,760 SF

      Morristown Office Space For Rent

      Divisible office space in Morristown with abundant natural light.
      22 South St, Morristown, NJ 07960
      View Details
    • $1,500 /Mo

      Morristown Office or Retail Space

      Second-floor office/retail space in Morristown's bustling business district.
      125 Morris St, Morristown, NJ 07960
      View Details
    • $895 /Mo

      Private Office Near South Street

      Professionally occupied office building near downtown Morristown.
      13 James St, Morristown, NJ 07960
      View Details
    • Contact for pricing
      15,151 SF

      Morristown Office Building with Fitness

      Office building with fitness center and cafe near I-287.
      60 Columbia Rd, Morristown, NJ 07960
      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.
    170 Ridgedale Ave
    Morristown, NJ 07960-4000
    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!