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

    299 Murray Hill Pkwy East Rutherford East Rutherford, NJ 07073

    • Industrial properties
    • 100,432 SF
    • 3.71 lot acres
    For Lease
    View listing
    Last Sale
    Apr 23, 2024
    $28,500,000
    Value Estimations
    $28,500,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1343683
    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

    • BII-Braha Industries / Atm
    • Ashko Group / Warehouse & Storage

    Property Details for 299 Murray Hill Pkwy East Rutherford

    Year built
    1979
    Lot size
    3.71 lot acres
    Property size
    100,432 SF
    Property type
    Industrial properties
    APN
    12 00106- 01-00003
    APU
    12001060100003

    Description

    This exceptional 101,344-square-foot warehouse, located at 299 Murray Hill Parkway in East Rutherford, New Jersey, presents a significant opportunity for industrial businesses seeking a single-tenant space. Situated on a generous 3.72-acre lot in Bergen County, this property boasts impressive features ideal for various operations. The warehouse features a high ceiling clearance, ranging from 28 feet 7 inches to 22 feet 4 inches, providing ample vertical space for storage and operations. Twelve loading docks and one drive-in door ensure efficient loading and unloading of goods. Ample parking is available with 44 designated spaces. The property is fully vacant and ready for immediate occupancy. The building is equipped with a robust 1,200-amp power supply, capable of supporting demanding industrial processes. Its strategic location in East Rutherford, New Jersey, offers easy access to major transportation arteries, facilitating seamless logistics and distribution. The property's size, features, and location make it an attractive option for businesses seeking a modern and functional warehouse space in a prime New Jersey location. The zip code is 07073. This is a single-tenant industrial property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $28,500,000
      ML approach
      $28,500,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $18,790,000
      6.5%
      $17,345,000
      7%
      $16,105,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,545,000
      Market price range: $16.1M - $33.9M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $22,495,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $32,995,000
      Change: +47% Conversion: Difficult
      OFFICE BUILDING
      $24,260,000
      Change: +8% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $20,570,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    East Rutherford
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.0912
    Latitude
    40.8214
    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
    $198,492
    $6,018,300
    $6,208,300
    $12,226,600
    -
    $6,018,300
    $6,208,300
    $12,226,600

    Comparable in this City

    • Value Estimation
      $4,215,000
      34,932 SF

      Ee Un Ave

      INDUSTRIAL (GENERAL) • 34,932 SF
      Ee Un Ave, East Rutherford, NJ 07073
      View Details
    • Value Estimation
      $16,625,000
      150,912 SF

      55 Madison Cir Dr

      INDUSTRIAL (GENERAL) • 150,912 SF
      55 Madison Cir Dr, East Rutherford, NJ 07073-2230
      View Details
    • Value Estimation
      $8,055,000
      86,680 SF

      50 Morton St

      INDUSTRIAL (GENERAL) • 86,680 SF
      50 Morton St, East Rutherford, NJ 07073-1621
      View Details
    • Value Estimation
      $3,050,000
      27,355 SF

      226 Orch St

      INDUSTRIAL (GENERAL) • 27,355 SF
      226 Orch St, East Rutherford, NJ 07073-1973
      View Details
    • Value Estimation
      $895,000
      6,259 SF

      732 Paterson Ave

      INDUSTRIAL (GENERAL) • 6,259 SF
      732 Paterson Ave, East Rutherford, NJ 07073
      View Details
    • Value Estimation
      $2,265,000
      19,500 SF

      380 Paterson Ave

      INDUSTRIAL (GENERAL) • 19,500 SF
      380 Paterson Ave, East Rutherford, NJ 07073
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      44,000 SF

      Pleasant Hill Plaza: Office Suites Available

      Prime Contra Costa County office space for lease.
      190 Van Winkle St, East Rutherford, NJ 07073
      View Details
    • $24,000,000

      Bergen County Warehouse/Flex Opportunity

      105,544 SF warehouse/flex building on 6.29 acres in Bergen County.
      2 Union St, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      34,740 SF

      East Rutherford Warehouse with Upgrades

      Warehouse with parking, upgrades, and easy access to major routes.
      890 Paterson Plank Rd, East Rutherford, NJ 07073
      View Details
    • $1,400,000
      6,300 SF

      Versatile Commercial Property, East Rutherford

      Commercial property with office, garages, storage, and apartment.
      307 Paterson Ave, East Rutherford, NJ 07073
      View Details
    • $24,000,000

      Bergen County Warehouse/Flex Opportunity

      105,544 SF warehouse/flex building on 6.29 acres in Bergen County.
      2 E Union Ave, East Rutherford, NJ 07073
      View Details
    • $999,999

      East Rutherford Multifamily Investment Opportunity

      Newer construction multifamily property in desirable East Rutherford location.
      368 Paterson Ave, East Rutherford, NJ 07073
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      54,354 SF

      East Rutherford Warehouse Space Available

      53,754± SF warehouse with ample parking and loading docks.
      343 Murray Hill Pkwy, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      34,740 SF

      East Rutherford Warehouse with Parking

      Warehouse with parking, storage, and easy access to major routes.
      880-890 Paterson Plank Rd, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      38,150 SF

      East Rutherford Warehouse and Office

      Warehouse with office space available for immediate occupancy.
      160 E Union Ave, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      116,602 SF

      East Rutherford Warehouse Space Available

      116,602 SF warehouse with easy access to Route 17.
      99 Murray Hill Pkwy, East Rutherford, NJ 07073
      View Details
    • Contact for pricing
      27,000 SF

      Railroad Ave Warehouse Space

      Large NJ warehouse, flexible space available.
      251 Railroad Ave, East Rutherford, NJ 07073
      View Details
    • Contact for pricing

      East Rutherford Warehouse Space Available

      101,344 SF warehouse with office space and loading docks.
      299 Murray Hill Pkwy East Rutherford, East Rutherford, NJ 07073
      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.
    299 Murray Hill Pkwy East Rutherford
    East Rutherford, NJ 07073
    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.