Property profile

245 Main St Ridgefield Park, NJ 07660

FOR LEASE
Banks
Property ID
US59-0174559
0.31 ac lot Built 1975
Entity Owned 1-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional three-story, 22,479-square-foot office building in Ridgefield Park, NJ, presents a unique investment opportunity. Located at 245 Main Street, this single-tenant property sits on a 0.75-acre lot and boasts 28 parking spaces. The building's former use as a bank branch offers distinctive features including a secure vault and two drive-through lanes, ideal for various businesses. Two floors of vacant office space are available, with a potential sale/leaseback option from the owner. The property is zoned B-2 and benefits from a highly desirable location within a thriving retail area, surrounded by high-density residential buildings and a diverse mix of retail establishments, including CVS and 7-Eleven. Main Street's vibrant commercial activity provides excellent visibility and accessibility. The property's proximity to State Highway 46, a major commercial artery, further enhances its strategic value. The Borough Hall is conveniently located within a block, and the nearby Overpeck Park offers recreational amenities. Annual property taxes are $24,068.82. The asking price for this remarkable property is $2,299,000. This is an excellent opportunity to acquire a well-situated commercial property with significant potential.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1975
Lot 0.31 ac (13,299 SF)
Zoning code C1H
APN 50 00075-0000-00005- 01
UPID US59-0174559

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
  • Insurance Agency
  • Insurance Agency
  • Parking Lot & Garage

Location

245 Main St Ridgefield Park, NJ 07660
Ridgefield Park metro Census 46300 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.21M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.22M

Owner & transaction history

since 2025
4 recorded transactions
2025
Price N/A
2022
$2.0M
2020
$1.4M
2004
$1

Zoning & alternative use

C1H · Ridgefield Park, NJ

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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