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

    283 Prospect Ave Avenel, NJ 07001-1156

    • Office buildings
    • 1,531 SF
    • 0.34 lot acres
    OFF-MARKET
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    6.6%
    Office buildings
    Location Intelligence
    Property ID
    US59-1140323
    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

    • Olmezer Appraisal / Appraiser
    • D L Printing Co / Commercial Printer

    Property Details for 283 Prospect Ave

    Lot size
    0.34 lot acres
    Property size
    1,531 SF
    Zone code
    R7.5
    Property type
    Office buildings
    APN
    25 00781-0000-00083
    APU
    2500781000000083

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $415,000
      6.5%
      $385,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $419,000
      Market price range: $297k - $543k
      AI Estimate
      $314,000
      Market price range: $218k - $441k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $420,000
      Current use
      COMMERCIAL (GENERAL)
      $345,000
      Change: -18% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Avenel
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2883
    Latitude
    40.5839
    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
    $13,821
    $28,700
    $92,300
    $121,000
    -
    $28,700
    $92,300
    $121,000

    Comparable in this City

    • Value Estimation
      $525,000
      2,456 SF

      225-227 Avenel St

      OFFICE BUILDING • 2,456 SF
      225-227 Avenel St, Avenel, NJ 07001-1432
      View Details
    • Value Estimation
      $380,000
      1,676 SF

      1206 Saint Georges Ave

      OFFICE BUILDING • 1,676 SF
      1206 Saint Georges Ave, Avenel, NJ 07001-1264
      View Details
    • Value Estimation
      $570,000
      4,000 SF

      19 Martin St

      OFFICE BUILDING • 4,000 SF
      19 Martin St, Avenel, NJ 07001-1662
      View Details
    • Value Estimation by Request

      Us Hwy 1st 1

      OFFICE BUILDING
      Us Hwy 1st 1, Avenel, NJ 07001
      View Details
    • Value Estimation
      $450,000
      4.09 Acres

      1040 Us Hwy 1st, Unit 1050

      OFFICE BUILDING • 4.09 Acres
      1040 Us Hwy 1st, Avenel, NJ 07001-1531
      View Details
    • Value Estimation
      $335,000
      0.19 Acres

      169 Demorest Ave

      OFFICE BUILDING • 0.19 Acres
      169 Demorest Ave, Avenel, NJ 07001-1245
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.57 Acres

      Commercial Space in Avenel, NJ

      Commercial space suitable for professional, medical, wellness, and aesthetic businesses.
      239 Avenel St, Avenel, NJ 07001
      View Details
    • Contact for pricing
      2,000 SF

      Professionally Designed Commercial Suite

      Adaptable commercial suite with private offices and multiple entrances.
      239 Avenel St, Avenel, NJ 07001
      View Details
    • Contact for pricing
      11,520 SF

      Avenel Beauty & Wellness Suites

      Sublease suites in established beauty and wellness center.
      1392 Saint Georges Ave, Avenel, NJ 07001
      View Details
    • $299,900

      Turnkey Pizzeria Restaurant For Sale

      Fully renovated pizzeria restaurant with new equipment and ample parking.
      1076 St Georges Ave, Avenel, NJ 07001
      View Details
    • Contact for pricing
      3,000 SF

      Avenel Salon Suites for Lease

      Luxury Suites, All-Inclusive Amenities
      1392 St Georges Ave, Avenel, NJ 07001
      View Details
    • $2,500,000
      3,200 SF

      Profitable Turnkey Operation on Highway

      Well-established, profitable turnkey operation on prime commercial real estate.
      867 Us Highway 1, Avenel, NJ 07001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      70,000 SF

      St. Georges Ave Medical Office Space

      70,000 SF Medical Building, Suites Available
      1030 St Georges Ave, Woodbridge Township, NJ 07001
      View Details
    • $1.67 SF/Yr
      70,000 SF

      Medical Office Space Available

      Prime medical office space in a high-traffic, accessible location.
      1030 Saint Georges Ave, Avenel, NJ 07001
      View Details
    • $17 SF/Yr
      16,050 SF

      Retail/Office Strip Center Space

      Multi-tenanted retail/office space for lease. Easy access to major routes.
      1144-1162 St. Georges Ave, Avenel, NJ 07001
      View Details
    • $17 SF/Yr
      1,350 SF

      Avenel Office Space for Lease

      1,350 SF office unit available for lease.
      1144 Saint Georges Ave, Avenel, NJ 07001
      View Details
    • Contact for pricing

      Avenel Warehouse with Loading Docks

      324,000 SF single-story warehouse on 25 acres with 37 docks.
      1500 Rahway Ave, Avenel, NJ 07001
      View Details
    • Contact for pricing
      41,125 SF

      Avenel Warehouse Space Available

      Industrial warehouse space for lease in Avenel, New Jersey.
      4 Engelhard Ave, Avenel, NJ 07001
      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.
    283 Prospect Ave
    Avenel, NJ 07001-1156
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.