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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    285 Passaic Ave Fairfield, NJ 07004-2503

    • Industrial properties
    • 5,160 SF
    • 1.23 lot acres
    OFF-MARKET
    Value Estimations
    $720,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1908261
    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

    • Advanced Personal Training / Gym & Fitness Center
    • Final Round Training / Weight Loss Service / Personal Trainer
    • Malanga Construction / Construction Company / General Contractor

    Property Details for 285 Passaic Ave

    Year built
    1954
    Construction
    CONCRETE BLOCKS
    Lot size
    1.23 lot acres
    Property size
    5,160 SF
    Property type
    Industrial properties
    APN
    07 02601-0000-00013
    APU
    702601000000013

    Description

    This exceptional two-story, 9,100 square foot office building in Essex County presents a unique investment opportunity. Currently undergoing renovations, including a substantial 3,900 square foot second-floor addition, this property boasts a prime location, approximately a quarter-mile from Route 46 and I-80, ensuring high visibility on a four-lane road. The building features ample on-site parking and a new elevator, scheduled for completion. The renovated space offers versatile options, suitable for professional offices, medical practices, or recreational uses such as martial arts studios, yoga studios, or dance studios. The asking price is $20.00 per square foot, plus common area maintenance (CAM) charges, which will be determined based on property taxes, landscaping, and elevator maintenance. The 1.27-acre lot provides ample space and the single-tenancy building offers flexibility and control. The building is currently undergoing a complete renovation, completed in 2024, and is situated near the intersection of Daniel Road. This is an ideal opportunity for businesses seeking a modern, well-located space with excellent accessibility and high visibility. The existing building is 5,200 square feet, with the addition of 3,900 square feet on the second floor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $510,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $985,000
      6.5%
      $910,000
      7%
      $845,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $738,000
      Market price range: $180k - $738k

    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
    40.8816
    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
    2023
    $20,959
    $365,500
    $655,400
    $1,020,900
    -
    $365,500
    $655,400
    $1,020,900

    Comparable in this City

    • Value Estimation
      $6,440,000
      48,100 SF

      19 Daniel Rd

      INDUSTRIAL (GENERAL) • 48,100 SF
      19 Daniel Rd, Fairfield, NJ 07004-2527
      View Details
    • Value Estimation
      $6,740,000
      55,404 SF

      5 Dwight Pl

      INDUSTRIAL (GENERAL) • 55,404 SF
      5 Dwight Pl, Fairfield, NJ 07004-3405
      View Details
    • Value Estimation
      $5,890,000
      41,067 SF

      286 Eldridge Rd

      INDUSTRIAL (GENERAL) • 41,067 SF
      286 Eldridge Rd, Fairfield, NJ 07004-2509
      View Details
    • Value Estimation
      $3,325,000
      26,586 SF

      8 Gardner Rd

      INDUSTRIAL (GENERAL) • 26,586 SF
      8 Gardner Rd, Fairfield, NJ 07004-2206
      View Details
    • Value Estimation
      $3,035,000
      22,528 SF

      9 Gloria Ln

      INDUSTRIAL (GENERAL) • 22,528 SF
      9 Gloria Ln, Fairfield, NJ 07004-3305
      View Details
    • Value Estimation
      $6,180,000
      44,541 SF

      8 Gloria Ln

      INDUSTRIAL (GENERAL) • 44,541 SF
      8 Gloria Ln, Fairfield, NJ 07004-3306
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,000 SF

      Route 46 Warehouse - Fairfield, NJ

      High-visibility warehouse, excellent access.
      695 Route 46, Fairfield, NJ 07004
      View Details
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      Versatile Flex Building on Highway 46

      Class B flex property with office, industrial, and distribution capabilities.
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    • $4,250,000
      9,271 SF

      Retail/Industrial Building on Bloomfield Avenue

      9,271 SF retail/industrial building with commercial zoning.
      1221 Bloomfield Ave, Fairfield, NJ 07004
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    • 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
    • $1,450,000
      4,584 SF

      Prime Fairfield Commercial Investment Opportunity

      Shopping strip with five units, high visibility, and immediate returns.
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    • $1,600,000

      Highway Frontage Investment Opportunity

      Two properties with highway frontage, ideal for redevelopment or investment.
      584 Us Highway 46, Fairfield, NJ 07004
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    Similar Nearby for Lease

    • 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
    • Contact for pricing
      4,295 SF

      Fairfield Flex Space Available

      Flex space available for lease in Fairfield, New Jersey.
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      View Details
    • Contact for pricing
      30,792 SF

      Freestanding Industrial Warehouse For Rent

      Well-maintained, highly functional freestanding industrial warehouse available for lease.
      17 Madison Rd, Fairfield, NJ 07004
      View Details
    • $15 SF/Yr
      8,000 SF

      Fairfield Warehouse: 8,000 SF Available

      Spacious Essex County warehouse for lease.
      4 Commerce Rd, Fairfield, NJ 07004
      View Details
    • Contact for pricing
      15,000 SF

      Fairfield Warehouse Sublease Opportunity

      15,000 SF warehouse space available for sublease in Fairfield.
      55 Passaic Ave, Fairfield, NJ 07004
      View Details
    • $10 SF/Yr
      3,333 SF

      Fairfield Flex Space with Office

      3,333 SF flex space with office/showroom for lease.
      7 Kulick Rd, Fairfield, NJ 07004
      View Details
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    285 Passaic Ave
    Fairfield, NJ 07004-2503
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    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
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