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

    2 Andrews Dr Woodland Park, NJ 07424-2672

    • Industrial properties
    • 20,493 SF
    • 1.19 lot acres
    OFF-MARKET
    Value Estimations
    $1,910,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1992549
    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

    • Industrial properties

    Property Details for 2 Andrews Dr

    Year built
    1987
    Lot size
    1.19 lot acres
    Property size
    20,493 SF
    Property type
    Industrial properties
    APN
    16 00122-0000-00003- 07
    APU
    160012200000000307

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,332,000
      Market price range: $2.28M - $5.76M

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodland Park
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.2072
    Latitude
    40.8857
    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
    $52,608
    $894,800
    $705,200
    $1,600,000
    -
    $894,800
    $705,200
    $1,600,000

    Comparable in this City

    • Value Estimation
      $965,000
      5,412 SF

      231 Main St

      INDUSTRIAL (GENERAL) • 5,412 SF
      231 Main St, Little Falls, NJ 07424-1346
      View Details
    • Value Estimation
      $3,940,000
      25,524 SF

      4 Andrews Dr

      INDUSTRIAL (GENERAL) • 25,524 SF
      4 Andrews Dr, Woodland Park, NJ 07424-2640
      View Details
    • Value Estimation
      $2,875,000
      32,400 SF

      6 Andrews Dr

      INDUSTRIAL (GENERAL) • 32,400 SF
      6 Andrews Dr, Woodland Park, NJ 07424-2640
      View Details
    • Value Estimation
      $11,305,000
      15,792 SF

      86 Lackawanna Ave

      INDUSTRIAL (GENERAL) • 15,792 SF
      86 Lackawanna Ave, Woodland Park, NJ 07424-2565
      View Details
    • Value Estimation
      $1,085,000
      6,233 SF

      195 Paterson Ave

      INDUSTRIAL (GENERAL) • 6,233 SF
      195 Paterson Ave, Little Falls, NJ 07424-1645
      View Details
    • Value Estimation
      $1,975,000
      3,187 SF

      4 Peckman Rd

      INDUSTRIAL (GENERAL) • 3,187 SF
      4 Peckman Rd, Little Falls, NJ 07424-1631
      View Details

    Similar Nearby for Sale

    • $3,395,000
      6,496 SF

      Little Falls Warehouse For Sale

      6,496 SF warehouse/industrial property in Little Falls, New Jersey.
      1565 Us Highway 46, Little Falls, NJ 07424
      View Details
    • $874,900

      Well-Maintained Brick Multi-Family Home

      Spacious two-unit property with modern amenities and convenient location.
      25 Newby Ave, Woodland Park, NJ 07424
      View Details
    • $314,900

      Little Falls Specialty Property

      Specialty property available for sale in Little Falls, NJ.
      181 Long Hill Rd, Little Falls, NJ 07424
      View Details
    • $475,000

      Residential Land in Little Falls

      Level lot ready for custom home construction near NYC transit.
      185 Wilmore Rd, Little Falls, NJ 07424
      View Details
    • $1,699,000
      4,000 SF

      New Mixed-Use Investment Opportunity

      New construction mixed-use building with apartments and commercial spaces.
      1108 Mcbride Ave, Woodland Park, NJ 07424
      View Details
    • $699,900

      Turnkey Home in Gated Community

      Luxurious 55+ community with extensive amenities near Upper Montclair.
      5 Granite Rd, Woodland Park, NJ 07424
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,300 SF

      Industrial Space Available For Lease

      12,300 SF industrial space for lease in Little Falls.
      37 Montclair Ave, Little Falls, NJ 07424
      View Details
    • $12 SF/Yr
      15,000 SF

      Little Falls Warehouse - 15,000 SF

      Spacious industrial warehouse, ideal for various uses.
      453 Main St, Little Falls, NJ 07424
      View Details
    • $9,534 /Mo
      5,200 SF

      Warehouse with Integrated Office Space

      5,200 sq ft warehouse with offices near major roadways.
      5 Fairfield Ave, Little Falls, NJ 07424
      View Details
    • $3,500 /Mo
      1,100 SF

      Renovated Mixed-Use Space with Optional Garage

      Versatile renovated space in Woodland Park with optional high-ceiling garage.
      19 Hillery St, Woodland Park, NJ 07424
      View Details
    • $610,000

      Industrial Warehouse Space Available

      Industrial warehouse space for rent.
      188 Newark Pompton Tpke, Little Falls, NJ 07424
      View Details
    • Contact for pricing
      8,000 SF

      Furnished Office Space Available

      8,000 SF furnished office space suitable for various businesses.
      1500 Cardinal Dr, Little Falls, NJ 07424
      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.
    2 Andrews Dr
    Woodland Park, NJ 07424-2672
    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.