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

    2 Vlg Park Rd Cedar Grove, NJ 07009-1212

    • Industrial properties
    • 1,537 SF
    • 0.24 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    4.3%
    Industrial properties
    Location Intelligence
    Property ID
    US59-3058742
    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 Vlg Park Rd

    Year built
    1955
    Construction
    CONCRETE BLOCKS
    Lot size
    0.24 lot acres
    Property size
    1,537 SF
    Zone code
    M-1
    Property type
    Industrial properties
    APN
    04 00291-0000-00001
    APU
    400291000000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $405,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $295,000
      6.5%
      $270,000
      7%
      $250,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $271,000
      Market price range: $64.1k - $271k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $345,000
      Current use
      COMMERCIAL (GENERAL)
      $455,000
      Change: +31% Conversion: Difficult
      OFFICE BUILDING
      $325,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Grove
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2272
    Latitude
    40.8649
    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
    $6,679
    $155,300
    $105,200
    $260,500
    -
    $155,300
    $105,200
    $260,500

    Comparable in this City

    • Value Estimation
      $840,000
      1.62 Acres

      99 Commerce Rd

      INDUSTRIAL (GENERAL) • 1.62 Acres
      99 Commerce Rd, Cedar Grove, NJ 07009-1205
      View Details
    • Value Estimation
      $825,000
      2.02 Acres

      7 Lewis Rd

      INDUSTRIAL (GENERAL) • 2.02 Acres
      7 Lewis Rd, Cedar Grove, NJ 07009-1450
      View Details
    • Value Estimation
      $615,000
      2.03 Acres

      371 Little Fls Rd

      INDUSTRIAL (GENERAL) • 2.03 Acres
      371 Little Fls Rd, Cedar Grove, NJ 07009-1250
      View Details
    • Value Estimation
      $1,425,000
      50,080 SF

      74 Sand Park Rd

      INDUSTRIAL (GENERAL) • 50,080 SF
      74 Sand Park Rd, Cedar Grove, NJ 07009-1210
      View Details
    • Value Estimation
      $500,000
      1.26 Acres

      50 Sand Park Rd

      INDUSTRIAL (GENERAL) • 1.26 Acres
      50 Sand Park Rd, Cedar Grove, NJ 07009
      View Details
    • Value Estimation by Request
      13.94 Acres

      10 Cliffside Dr

      INDUSTRIAL (GENERAL) • 13.94 Acres
      10 Cliffside Dr, Cedar Grove, NJ 07009-1227
      View Details

    Similar Nearby for Sale

    • $2,500,000
      Pending

      Versatile Commercial Property on Pompton Avenue

      Expansive commercial property with retail, shop, office, and storage.
      1190 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $950,000
      0.51 Acres

      Prime Cedar Grove Commercial Land

      ±0.51-acre commercial lot, redevelopment opportunity.
      694 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $1,300,000

      Retail Property With Basement and Parking

      Retail property featuring a basement and parking spaces.
      509 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $799,999

      Commercial Land For Sale

      Commercial land available for sale.
      41 Sequoia Dr, Cedar Grove, NJ 07009
      View Details
    • $1,200,000

      Mixed-Use Commercial Property For Sale

      Mixed-use property with commercial space and residential apartment.
      857 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $950,000

      Commercial Land on Corner Lot

      Corner lot commercial land available for sale.
      694 Pompton Ave, Cedar Grove, NJ 07009
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,500 SF

      Cedar Grove Industrial Space Available

      7,500 SF industrial space for lease in Cedar Grove.
      216-220 Little Falls Rd, Cedar Grove, NJ 07009
      View Details
    • $17 SF/Yr
      7,500 SF

      Peckman River Industrial Flex Space

      7,500 SF Flex Space in Cedar Grove, NJ
      220 Little Falls Rd, Cedar Grove, NJ 07009
      View Details
    • $17 SF/Yr
      30,000 SF

      Prime Cedar Grove Flex Space

      7,500 SF Flex Space Available
      220 Little Falls Rd, Cedar Grove, NJ 07009
      View Details
    • $13 SF/Yr
      5,000 SF

      Cedar Grove Warehouse Space Available

      5,000 SF warehouse with 1,720 SF office space.
      371 Little Falls Rd, Cedar Grove, NJ 07009
      View Details
    • $18 SF/Yr
      3,169 SF

      Cedar Grove Warehouse Space Available

      3,169 SF warehouse space for lease in Cedar Grove.
      216 Little Falls Rd, Cedar Grove, NJ 07009
      View Details
    • $25 SF/Yr
      4,773 SF

      Retail Banking Opportunity in Cedar Grove

      Retail banking space available in Cedar Grove, New Jersey.
      572 Pompton Ave, Cedar Grove, NJ 07009
      View Details
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    2 Vlg Park Rd
    Cedar Grove, NJ 07009-1212
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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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