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

    202 Myrtle Ave Boonton, NJ 07005-1765

    • Commercial real estate
    • 6,231 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2022
    Value Estimations
    $725,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-3062935
    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

    • Commercial real estate

    Property Details for 202 Myrtle Ave

    Year built
    1890
    Construction
    BRICK
    Lot size
    0.32 lot acres
    Property size
    6,231 SF
    Zone code
    B-2
    Property type
    Commercial real estate
    APN
    01 00070-0000-00021- 03
    APU
    10007000000002103

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $760,000
      6.5%
      $705,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $672,000
      Market price range: $386k - $1.08M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,115,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Boonton
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4056
    Latitude
    40.9044
    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
    $21,209
    $516,800
    $149,300
    $666,100
    -
    $516,800
    $149,300
    $666,100

    Comparable in this City

    • Value Estimation
      $2,260,000
      21,490 SF

      650 Myrtle Ave

      COMMERCIAL (GENERAL) • 21,490 SF
      650 Myrtle Ave, Boonton, NJ 07005-1915
      View Details
    • Value Estimation
      $18,405,000
      132,411 SF

      300 Wootton St

      COMMERCIAL (GENERAL) • 132,411 SF
      300 Wootton St, Boonton, NJ 07005-1925
      View Details
    • Value Estimation
      $2,685,000
      0.24 Acres

      26 Intervale Rd

      COMMERCIAL (GENERAL) • 0.24 Acres
      26 Intervale Rd, Boonton, NJ 07005-1019
      View Details
    • Value Estimation by Request
      3,050 SF

      121 Monroe St

      COMMERCIAL (GENERAL) • 3,050 SF
      121 Monroe St, Boonton, NJ 07005-2161
      View Details
    • Value Estimation
      $1,340,000
      12,381 SF

      650 Myrtle Ave

      COMMERCIAL (GENERAL) • 12,381 SF
      650 Myrtle Ave, Boonton, NJ 07005-1915
      View Details
    • Value Estimation
      $550,000
      3,600 SF

      110 Boonton Ave

      COMMERCIAL (GENERAL) • 3,600 SF
      110 Boonton Ave, Boonton, NJ 07005-1428
      View Details

    Similar Nearby for Sale

    • $400,000
      Pending

      Boonton Town Multi-Family Renovation Project

      Three-unit multi-family property in Boonton Town, NJ, awaiting renovation.
      209 William St, Boonton, NJ 07005
      View Details
    • $1,795,000
      6,000 SF

      Historic Victorian Fourplex in Boonton

      Renovated 4-unit property with modern updates and historic charm.
      314 Cornelia St, Boonton, NJ 07005
      View Details

    Similar Nearby for Lease

    • $31,200
      39,470 SF

      Boonton Retail Space Available

      Retail spaces available in Boonton with many approved uses.
      115 Hawkins Pl, Boonton, NJ 07005
      View Details
    • $1,800 /Mo
      6,098 SF

      Commercial Space in Del's Village

      Customizable commercial space for rent in Boonton Town, NJ.
      360 Hawkins Pl, Boonton, NJ 07005
      View Details
    • Contact for pricing
      55,000 SF

      Boonton Industrial Space Available

      55,000 SF industrial space with cranes and ample power.
      95 Fulton St, Boonton, NJ 07005
      View Details
    • $15 SF/Yr
      4,920 SF

      Boonton Flex Space For Rent

      Flex space available near I-287, I-80, and US-46.
      50 Intervale Rd, Boonton, NJ 07005
      View Details
    • $13 SF/Yr
      9,500 SF

      Boonton Warehouse Space Available

      34,000 SF warehouse divisible to 2,000 SF for lease.
      5 Mars Ct, Boonton, NJ 07005
      View Details
    • $2,400 /Mo

      Unique Retail/Office Space in Boonton

      Rustic retail/office space with unique features in downtown Boonton.
      712 Main St, Boonton, NJ 07005
      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.
    202 Myrtle Ave
    Boonton, NJ 07005-1765
    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.