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

    20 Prospect Ave Hackensack, NJ 07601-1997

    • Commercial real estate
    • 281,720 SF
    • 3.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1323745
    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

    • Colen Stephen R MD / Surgeon
    • Ritota Perry C MD / Plastic Surgeon
    • Aesthetic/reconstructive Sgns / Plastic Surgeon
    • Advanced Neurosurgery Associates – Hackensack / Surgical Center / Neurologist
    • Mcneill Ann / Registered General Nurse

    Property Details for 20 Prospect Ave

    Year built
    1998
    Construction
    CONCRETE BLOCKS
    Lot size
    3.93 lot acres
    Property size
    281,720 SF
    Zone code
    R-3
    Property type
    Commercial real estate
    APN
    23 00236-0000-00001- 02
    APU
    230023600000000102

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $65,500,000
      6.5%
      $60,460,000
      7%
      $56,145,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $83,868,000
      Market price range: $47.2M - $83.9M
      AI Estimate
      $50,436,000
      Market price range: $18.9M - $50.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $61,630,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $92,550,000
      Change: +50% Conversion: Moderate
      OFFICE BUILDING
      $68,050,000
      Change: +10% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $58,080,000
      Change: -6% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Hackensack
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0572
    Latitude
    40.8835
    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
    $4,318,500
    $7,860,000
    $142,140,000
    $150,000,000
    -
    $7,860,000
    $142,140,000
    $150,000,000

    Comparable in this City

    • Value Estimation by Request
      0.17 Acres

      403 Park St

      COMMERCIAL (GENERAL) • 0.17 Acres
      403 Park St, Hackensack, NJ 07601
      View Details
    • Value Estimation by Request
      0.21 Acres

      3 Smt Ave

      COMMERCIAL (GENERAL) • 0.21 Acres
      3 Smt Ave, Hackensack, NJ 07601
      View Details
    • Value Estimation by Request
      0.00 Acres

      418 Main St

      COMMERCIAL (GENERAL) • 0.00 Acres
      418 Main St, Hackensack, NJ 07601-5978
      View Details
    • Value Estimation
      $1,290,000
      9,658 SF

      30 Newman St

      COMMERCIAL (GENERAL) • 9,658 SF
      30 Newman St, Hackensack, NJ 07601-3307
      View Details
    • Value Estimation
      $21,035,000
      184,920 SF

      175 Atlantic St

      COMMERCIAL (GENERAL) • 184,920 SF
      175 Atlantic St, Hackensack, NJ 07601
      View Details
    • Value Estimation
      $510,000
      2,184 SF

      200-18 State 38th Banta

      COMMERCIAL (GENERAL) • 2,184 SF
      200-18 State 38th Banta, Hackensack, NJ 07601
      View Details

    Similar Nearby for Sale

    • $2,500,000

      Hackensack Commercial Property Investment

      Prime Hackensack location, $2.5M asking price.
      294-298 State St, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      0.34 Acres

      Hackensack Office Space - Prime Location

      Newly renovated office, ideal for businesses.
      State St, Hackensack, NJ 07601
      View Details
    • Contact for pricing

      Hackensack Commercial Property Investment

      High Street, Hackensack, NJ - $4,500
      238 High St, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      0.07 Acres

      Hackensack Industrial Land Parcel

      0.071-acre lot, ideal outdoor storage.
      111 Meadow St, Hackensack, NJ 07601
      View Details
    • $875,000

      Fully Occupied Downtown Investment Property

      Four-unit investment property with residential and commercial tenants in Hackensack.
      825 Main St, Hackensack, NJ 07601
      View Details
    • Contact for pricing

      Hackensack Office Space For Sale

      First-floor office space suitable for medical, legal, or professional use.
      235 Prospect #2, Hackensack, NJ 07601
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      11,828 SF

      Hackensack Executive Office Space

      Prime location, renovated office, 11,828 sq ft.
      126 State St, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      800 SF

      Hackensack Retail Storefront - Essex St.

      Move-in ready storefront; high traffic location.
      214a Essex St, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      11,131 SF

      Summit Plaza: Hackensack Medical Office

      Prime Medical Office Space Available in Hackensack, NJ
      370-380 Pleasantview Ave, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      1,935 SF

      Freestanding Office Building Near Route 4

      Freestanding office building in central Bergen County, near Manhattan.
      224 Johnson Ave, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      1,172 SF

      Class A Office Complex

      Class A office complex in downtown Hackensack, NJ for rent.
      21 Main St, Hackensack, NJ 07601
      View Details
    • Contact for pricing
      1,032 SF

      Hackensack Avenue Office Space

      Office space available for rent in Hackensack, New Jersey.
      433 Hackensack Ave, Hackensack, NJ 07601
      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.
    20 Prospect Ave
    Hackensack, NJ 07601-1997
    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.