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

    253 Passaic Ave Fairfield, NJ 07004-2534

    • Commercial real estate
    • 35,675 SF
    • 2.80 lot acres
    OFF-MARKET
    Value Estimations
    $4,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2044813
    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

    • DMWH / Material Handling Equipment Supplier
    • C G Albrecht / Architect

    Property Details for 253 Passaic Ave

    Year built
    1973
    Construction
    CONCRETE BLOCKS
    Lot size
    2.80 lot acres
    Property size
    35,675 SF
    Zone code
    L-1
    Property type
    Commercial real estate
    APN
    07 02601-0000-00002
    APU
    702601000000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,885,000
      Market price range: $1.50M - $7.35M

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2724
    Latitude
    40.8799
    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
    $82,966
    $669,600
    $3,472,500
    $4,142,100
    -
    $669,600
    $3,472,500
    $4,142,100

    Comparable in this City

    • Value Estimation by Request

      86 Broadway Ln, Unit 92

      COMMERCIAL (GENERAL)
      86 Broadway Ln, Fairfield, NJ 07004-3702
      View Details
    • Value Estimation by Request

      Clinton Rd

      COMMERCIAL (GENERAL)
      Clinton Rd, Fairfield, NJ 07004
      View Details
    • Value Estimation
      $705,000
      2.84 Acres

      224 Passaic Ave

      COMMERCIAL (GENERAL) • 2.84 Acres
      224 Passaic Ave, Fairfield, NJ 07004-3505
      View Details
    • Value Estimation
      $1,035,000
      4.61 Acres

      234 Us Hwy 46

      COMMERCIAL (GENERAL) • 4.61 Acres
      234 Us Hwy 46, Fairfield, NJ 07004
      View Details
    • Value Estimation
      $2,460,000
      12,000 SF

      167 Fairfield Rd

      COMMERCIAL (GENERAL) • 12,000 SF
      167 Fairfield Rd, Fairfield, NJ 07004-2404
      View Details
    • Value Estimation by Request
      612 SF

      82 Fairfield Rd

      COMMERCIAL (GENERAL) • 612 SF
      82 Fairfield Rd, Fairfield, NJ 07004-2401
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.94 Acres

      Fairfield Retail Space: Prime Location

      Spacious 2nd Floor Retail Unit in Busy Center
      435-437 Hollywood Ave, Fairfield, NJ 07004
      View Details
    • $2,650,000
      3,722 SF

      Fairfield Restaurant & Liquor License

      Turnkey Restaurant, 1.4 Acres, 130 Seats
      292 Passaic Ave, Fairfield, NJ 07004
      View Details
    • $1,450,000
      4,584 SF

      Prime Fairfield Commercial Investment Opportunity

      Shopping strip with five units, high visibility, and immediate returns.
      24 Little Falls Rd, Fairfield, NJ 07004
      View Details
    • $899,000

      Two-Story Office Building For Sale

      Two-story office building with renovated space and full basement.
      230 Passaic Ave, Fairfield, NJ 07004
      View Details
    • Contact for pricing
      39,304 SF

      Versatile Flex Building on Highway 46

      Class B flex property with office, industrial, and distribution capabilities.
      60 E Us Highway 46, Fairfield, NJ 07004
      View Details
    • $1,600,000

      Highway Frontage Investment Opportunity

      Two properties with highway frontage, ideal for redevelopment or investment.
      584 Us Highway 46, Fairfield, NJ 07004
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      9,550 SF

      Prime Fairfield Executive Suites

      NJ Office Space: 1,250-3,400 SF Available
      1260 Bloomfield Ave, Fairfield, NJ 07004
      View Details
    • Contact for pricing
      12,197 SF

      Fairfield Warehouse Space Available

      Industrial space for lease near major routes in Fairfield, NJ.
      30 Plymouth St, Fairfield, NJ 07004
      View Details
    • $2,500 /Mo

      Fairfield Retail Space For Rent

      First floor retail space in a busy Fairfield shopping center.
      435 Hollywood Ave, Fairfield, NJ 07004
      View Details
    • $2,800 /Mo

      Renovated Office Condo For Rent

      Renovated office condo featuring private offices, conference room, and amenities.
      271 Route 46, Fairfield, NJ 07004
      View Details
    • $6 SF/Yr
      6,249 SF

      Regus - NJ, Fairfield - Passaic Ave

      Office space
      165 Passaic Ave, Fairfield, NJ 07004
      View Details
    • $23 SF/Yr
      93,620 SF

      Fairfield Executive Office Space

      Class A Office Suites in Prime Location
      30 Two Bridges Rd, Fairfield, NJ 07004
      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.
    253 Passaic Ave
    Fairfield, NJ 07004-2534
    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.