Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    305 Ridgewood Rd South Orange, NJ 07079-1619

    Property Lookup

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

    305 Ridgewood Rd South Orange, NJ 07079-1619

    View on Map
    • Commercial real estate
    • 15,651 SF
    • 11.21 lot acres
    Off-Market
    Property ID
    US59-1436090
    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.
    Value Estimations
    $3,980,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • David Burke Orange Lawn / Grocery & Convenience Store / Food Market
    • Orange Lawn Tennis Club / Sports School / Sports Field & Court

    Property Details for 305 Ridgewood Rd

    Year built
    1850
    Construction
    STONE
    Lot size
    11.21 lot acres
    Property size
    15,651 SF
    Zone code
    R100
    Property type
    Commercial real estate
    APN
    19 01304-0000-00006
    APU
    1901304000000006

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,600,000
      6.5%
      $3,325,000
      7%
      $3,085,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,628,000
      Market price range: $1.27M - $3.63M

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

    Location Insight

    • Map
    • Local Demand
    City
    South Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2633
    Latitude
    40.7543
    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
    $212,012
    $3,418,200
    $2,375,100
    $5,793,300
    -
    $3,418,200
    $2,375,100
    $5,793,300

    Comparable in this City

    • Value Estimation
      $1,760,000
      7,980 SF

      15 Orange Ave

      COMMERCIAL (GENERAL) • 7,980 SF
      15 Orange Ave, South Orange, NJ 07079-1716
      View Details
    • Value Estimation
      $4,570,000
      32,047 SF

      115 Sloan St

      COMMERCIAL (GENERAL) • 32,047 SF
      115 Sloan St, South Orange, NJ 07079
      View Details
    • Value Estimation
      $3,175,000
      12,300 SF

      109 Ws Orange Ave

      COMMERCIAL (GENERAL) • 12,300 SF
      109 Ws Orange Ave, South Orange, NJ 07079-1732
      View Details
    • Value Estimation
      $9,575,000
      10,767 SF

      75 Orange Ave

      COMMERCIAL (GENERAL) • 10,767 SF
      75 Orange Ave, South Orange, NJ 07079-1759
      View Details
    • Value Estimation
      $555,000
      3,246 SF

      101 Vose Ave

      COMMERCIAL (GENERAL) • 3,246 SF
      101 Vose Ave, South Orange, NJ 07079-2025
      View Details
    • Value Estimation
      $925,000
      4,258 SF

      54 Church St

      COMMERCIAL (GENERAL) • 4,258 SF
      54 Church St, South Orange, NJ 07079-1776
      View Details

    Similar Nearby for Sale

    • $899,000

      Updated Duplex Near NYC Transit

      Well-maintained duplex near Seton Hall and NYC transit.
      330 Academy St, South Orange, NJ 07079
      View Details
    • Contact for pricing
      5,532 SF

      Turnkey Restaurant Opportunity in Downtown

      Two-story, fully equipped restaurant near train station, delivered vacant.
      15 S Orange Ave, South Orange, NJ 07079
      View Details
    • Contact for pricing

      Oversized Garage in South Orange

      Rare opportunity: large garage near South Orange Village center.
      161 Church St, South Orange, NJ 07079
      View Details
    • Contact for pricing
      3,020 SF

      Redevelopment Opportunity Near Train

      Commercial land available one block from South Orange Train.
      99 Vose Ave, South Orange, NJ 07079
      View Details
    • $875,000
      3,268 SF

      South Orange Village Triplex

      Well-maintained 3-unit property near NYC transportation and local amenities.
      19 Montrose St, South Orange, NJ 07079
      View Details

    Similar Nearby for Lease

    • $1,000 /Mo

      Professional Office Space Available

      Office space with three offices, half bath, and kitchenette.
      155 Kilburn Pl, South Orange, NJ 07079
      View Details
    • $8,279 /Mo

      South Orange Lower-Level Commercial Suite

      Versatile 3,425 SF suite in downtown South Orange.
      15 Valley St, South Orange, NJ 07079
      View Details
    • Contact for pricing
      1,071 SF

      Retail Space Near South Orange

      Retail space for rent, one block from South Orange Station.
      9 Village Plz, South Orange, NJ 07079
      View Details
    • Contact for pricing

      Comfortable Unit Near NYC Train

      Bright 2-bedroom unit near train and Seton Hall University.
      51 Riggs Pl, South Orange, NJ 07079
      View Details
    • Contact for pricing

      Versatile Office Space in South Orange

      Two-floor office space near South Orange Train Station.
      15 Valley St, South Orange, NJ 07079
      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.
    305 Ridgewood Rd
    South Orange, NJ 07079-1619
    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.
    Sign Up Successful!
    You now have access to more from Realmo!