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

    234 Rhode Is Ave, Unit 38 East Orange, NJ 07018-1835

    • Commercial real estate
    • 4,378 SF
    • 0.14 lot acres
    OFF-MARKET
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1164154
    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

    • Glass & Mirror, Inc. / Hardware & Home Improvement / Home Decor Store
    • East Orange Auto Glass / Auto Repair Shop / (Bike/Boat/Book/etc) Store
    • Adlers House of Glass / General Contractor / Renovation Specialist
    • Ryan's Termite & Pest Control / Garden Center

    Property Details for 234 Rhode Is Ave

    Lot size
    0.14 lot acres
    Property size
    4,378 SF
    Property type
    Commercial real estate
    APN
    05 00480-0000-00038
    APU
    500480000000038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $455,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,005,000
      6.5%
      $930,000
      7%
      $865,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $810,000
      Market price range: $426k - $1.01M
      AI Estimate
      $593,000
      Market price range: $320k - $776k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $710,000
      Current use
      OFFICE BUILDING
      $920,000
      Change: +29% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    East Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2247
    Latitude
    40.7534
    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
    $16,666
    $165,900
    $407,600
    $573,500
    -
    $165,900
    $407,600
    $573,500

    Comparable in this City

    • Value Estimation by Request

      327 Central Ave, Unit 331

      COMMERCIAL (GENERAL)
      327 Central Ave, East Orange, NJ 07018-2801
      View Details
    • Value Estimation
      $2,155,000
      10,564 SF

      538 Central Ave

      COMMERCIAL (GENERAL) • 10,564 SF
      538 Central Ave, East Orange, NJ 07018-1923
      View Details
    • Value Estimation
      $2,495,000
      14,304 SF

      604-608 Main St, Unit 608

      COMMERCIAL (GENERAL) • 14,304 SF
      604-608 Main St, East Orange, NJ 07018-1712
      View Details
    • Value Estimation by Request
      0.28 Acres

      501-505 Central Ave

      Land • 3,433 SF
      501-505 Central Ave, East Orange, NJ 07018
      View Details
    • Value Estimation
      $2,945,000
      17,300 SF

      594-600 Dr Martin Luther King Jr Blvd

      COMMERCIAL (GENERAL) • 17,300 SF
      594-600 Dr Martin Luther King Jr Blvd, East Orange, NJ 07018
      View Details
    • Value Estimation by Request
      2,591 SF

      132 Halsted St

      COMMERCIAL (GENERAL) • 2,591 SF
      132 Halsted St, East Orange, NJ 07018-2612
      View Details

    Similar Nearby for Sale

    • $300,000

      Multi-Family Lot For Sale

      Residential multi-family lot available in East Orange City, NJ.
      281 Halsted St, East Orange, NJ 07018
      View Details
    • Contact for pricing
      42,800 SF

      Six-Story Office Building in East Orange

      42,800 SF office building in East Orange, New Jersey.
      33 Evergreen Pl, East Orange, NJ 07018
      View Details
    • $2,500,000
      25,000 SF

      East Orange Religious Facility

      25,000 SF religious facility on 0.96 acres.
      422 Burnett St, East Orange, NJ 07018
      View Details
    • Contact for pricing
      3,000 SF

      Car Repair Facility For Sale

      3,000 SF car repair facility with business included.
      65 Central Ave, East Orange, NJ 07018
      View Details
    • $500,000

      East Orange Land Near Train

      Land for sale in East Orange near train station.
      395 Dr Mlk Jr Blvd, East Orange, NJ 07018
      View Details
    • $549,000

      East Orange Multifamily Property

      Multifamily property for sale in East Orange, New Jersey.
      45 S 17Th St, East Orange, NJ 07018
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo

      Luxury High-Rise Apartment Available

      Modern apartment in full-service building with commuter shuttle.
      258 S Harrison St, East Orange, NJ 07018
      View Details
    • $1,700 /Mo
      18,295 SF

      Medical Office Space Available

      First floor medical office with treatment and private rooms.
      85 S Harrison St, East Orange, NJ 07018
      View Details
    • $9 SF/Yr
      6,249 SF

      East Orange Office Space for Lease

      Flexible workspace solutions in prime location.
      576 Central Ave, East Orange, NJ 07018
      View Details
    • $5,000 /Mo

      Newark University Heights Commercial Space

      3,000 SF adaptable commercial space in Newark's University Heights.
      415 Central Ave, East Orange, NJ 07018
      View Details
    • $2,025 /Mo

      New Residential Community with Amenities

      116-unit residential community featuring modern amenities and in-home conveniences.
      431 Dr Mlk Jr Blvd, East Orange, NJ 07018
      View Details
    • $1,825 /Mo

      New Residential Community with Amenities

      116-unit residential community featuring modern amenities and sustainable features.
      431 Dr Mlk Jr Blvd, East Orange, NJ 07018
      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.
    234 Rhode Is Ave, Unit 38
    East Orange, NJ 07018-1835
    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.