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

    290 Union Blvd Totowa, NJ 07512

    • Commercial real estate
    • 11,498 SF
    • 0.34 lot acres
    For Sale
    View listing
    $2,300
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1214860
    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

    • Commercial real estate

    Property Details for 290 Union Blvd

    Year built
    1990
    Lot size
    0.34 lot acres
    Property size
    11,498 SF
    Property type
    Commercial real estate
    APN
    12 00030-0000-00009
    APU
    1200030000000009

    Description

    This exceptional office space, located at 290 Union Boulevard in Totowa, New Jersey, presents a fantastic opportunity for businesses seeking a convenient and functional workspace. The property is offered at a monthly lease rate of $2300. While the exact square footage isn't specified, the listing highlights its ideal location in Totowa, NJ, making it easily accessible for employees and clients alike. The property type is designated as office space, suggesting a layout suitable for various professional settings. The absence of acreage information indicates the property is likely situated on a smaller lot, typical of urban or suburban office buildings. This listing is perfect for a small business or individual professional seeking a cost-effective and well-situated office in a thriving New Jersey community. The address, 290 Union Boulevard, provides easy navigation and identification for prospective tenants. Further details regarding the interior layout, amenities, and specific features are available upon request. Interested parties are encouraged to inquire promptly to secure this attractive leasing opportunity. The monthly rental cost of $2300 makes this a competitive option in the Totowa commercial real estate market. This property offers a strategic location for businesses seeking to establish or expand their presence in a dynamic and accessible area. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,219,000
      Market price range: $1.22M - $3.12M

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

    Location Insight

    • Map
    • Local Demand
    City
    Totowa
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.2096
    Latitude
    40.9052
    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
    $22,041
    $540,000
    $310,000
    $850,000
    -
    $540,000
    $310,000
    $850,000

    Comparable in this City

    • Value Estimation
      $1,690,000
      15,788 SF

      169 Un Blvd

      COMMERCIAL (GENERAL) • 15,788 SF
      169 Un Blvd, Totowa, NJ 07512-2603
      View Details
    • Value Estimation
      $840,000
      6,464 SF

      326-328 Un Blvd, Unit 328

      COMMERCIAL (GENERAL) • 6,464 SF
      326-328 Un Blvd, Totowa, NJ 07512-2587
      View Details
    • Value Estimation
      $19,080,000
      93,207 SF

      545 Us Hwy 46

      COMMERCIAL (GENERAL) • 93,207 SF
      545 Us Hwy 46, Totowa, NJ 07512-1735
      View Details
    • Value Estimation
      $2,660,000
      19,884 SF

      1 Us Hwy 46

      COMMERCIAL (GENERAL) • 19,884 SF
      1 Us Hwy 46, Totowa, NJ 07512-2333
      View Details
    • Value Estimation
      $6,220,000
      67,856 SF

      400 Maltese Dr

      COMMERCIAL (GENERAL) • 67,856 SF
      400 Maltese Dr, Totowa, NJ 07512-1409
      View Details
    • Value Estimation
      $790,000
      5,254 SF

      409 Un Blvd

      COMMERCIAL (GENERAL) • 5,254 SF
      409 Un Blvd, Totowa, NJ 07512
      View Details

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      Totowa Office Space for Lease

      Prime Totowa Office, $2300/month
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      Retail and Professional Offices Available

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      View Details
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    290 Union Blvd
    Totowa, NJ 07512
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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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