Property profile

219 Richmond Ave New Milford, NJ 07646

FOR SALE
Other industrial properties
Property ID
US59-0072896
0.12 ac lot
Entity Owned 22-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

A free-standing commercial building located in the center of New Milford. The first-floor interior provides 3,500 sq. ft. of professional space, arranged with a reception area, a common workspace, five private offices, and two handicap-accessible restrooms. The building’s configuration allows for a range of permitted uses, including office and professional services, and it has historically been described as suitable for uses such as an animal hospital, small church, academy, or restaurant (subject to applicable zoning and approvals). Parking is available on-site in front of the building, with additional street parking nearby. The property is positioned for access to major highways and is near local schools, the main shopping mall, and the Post Office. An optional one-bedroom apartment on the second floor exists within the building and was fully renovated in 2024.

Property profile

Verified
Property type Other industrial properties
Use group INDUSTRIAL (GENERAL)
Construction CONCRETE BLOCKS
Lot 0.12 ac (5,301 SF)
APN 38 00116-0000-00007
UPID US59-0072896

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Physician
  • Physician
  • Physician
  • Physician
  • Physician

Location

219 Richmond Ave New Milford, NJ 07646
New Milford metro Census 37203 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$335k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$335k

Owner & transaction history

since 2004
6 recorded transactions
2021
Price N/A
2017
Price N/A
2004
$495,000
1969
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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