Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    320 Sparta Ave Sparta, NJ 07871-1112

    • Commercial real estate
    • 20,620 SF
    • 1.61 lot acres
    OFF-MARKET
    Last Sale
    Aug 06, 2020
    $1,921,549
    Value Estimations
    $2,435,000
    Show details
    Cap Rate Potential
    8.4%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-1596548
    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

    • Optimum / Cell Phone Store / Telecommunications Service Provider

    Property Details for 320 Sparta Ave

    Year built
    1963
    Lot size
    1.61 lot acres
    Property size
    20,620 SF
    Zone code
    C-1
    Property type
    Commercial real estate
    APN
    18 07001-0000-00013
    APU
    1807001000000013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,425,000
      ML approach
      $2,240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,571,000
      Market price range: $2.57M - $4.77M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparta
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.6671
    Latitude
    41.0346
    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
    $59,579
    $350,500
    $1,400,800
    $1,751,300
    -
    $350,500
    $1,400,800
    $1,751,300

    Comparable in this City

    • Value Estimation
      $405,000
      58.78 Acres

      506 Houses Cor Rd

      COMMERCIAL (GENERAL) • 58.78 Acres
      506 Houses Cor Rd, Sparta, NJ 07871
      View Details
    • Value Estimation
      $300,000
      6.09 Acres

      570 Lafayette Rd

      COMMERCIAL (GENERAL) • 6.09 Acres
      570 Lafayette Rd, Sparta, NJ 07871-3447
      View Details
    • Value Estimation
      $245,000
      0.84 Acres

      Mohawk Ave

      COMMERCIAL (GENERAL) • 0.84 Acres
      Mohawk Ave, Sparta, NJ 07871
      View Details
    • Value Estimation
      $325,000
      5.59 Acres

      8 Town Ctr Dr

      COMMERCIAL (GENERAL) • 5.59 Acres
      8 Town Ctr Dr, Sparta, NJ 07871-1989
      View Details
    • Value Estimation
      $535,000
      16,520 SF

      540 Lafayette Rd

      COMMERCIAL (GENERAL) • 16,520 SF
      540 Lafayette Rd, Sparta, NJ 07871-3497
      View Details
    • Value Estimation
      $380,000
      1,769 SF

      85 Sparta Ave

      COMMERCIAL (GENERAL) • 1,769 SF
      85 Sparta Ave, Sparta, NJ 07871-1772
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,000 SF

      Iconic Sparta Office Building

      Prime location, 17,000 sqft, ample parking.
      60 Blue Heron Rd, Sparta, NJ 07871
      View Details
    • Contact for pricing
      1.48 Acres

      Sparta Commercial Space - High Visibility

      1.48-acre lot, prime location, build-out available.
      172 Woodport Rd, Sparta, NJ 07871
      View Details
    • $1,200,000
      2,262 SF

      Historic Sparta Restaurant & Bar

      Established eatery, huge patio, strong financials.
      712 Woodport Rd, Sparta Township, NJ 07871
      View Details
    • $1,740,000

      87-Acre Sparta Land Opportunity

      Rare 87-acre parcel with stunning views and development potential.
      86 Lafayette Rd, Sparta, NJ 07871
      View Details
    • $420,000

      Sparta Specialty Property For Sale

      Specialty property available for purchase in Sparta, New Jersey.
      2 Carriage Ln, Sparta, NJ 07871
      View Details
    • $320,000
      0.30 Acres

      Prime ED-Zoned Corner Lot

      Corner lot suitable for commercial, light industrial, or mixed-use development.
      308 Houses Corner Rd, Sparta, NJ 07871
      View Details

    Similar Nearby for Lease

    • $1,895 /Mo
      8,712 SF

      Renovated Office Space For Rent

      Recently renovated office space with private entrance in Sparta Twp.
      11 Main St, Sparta, NJ 07871
      View Details
    • $2,000 /Mo
      116,305 SF

      Freestanding Office Building For Rent

      Professional building with high visibility and easy highway access.
      351 Sparta Ave, Sparta, NJ 07871
      View Details
    • Contact for pricing
      2,000 SF

      2-Bay Service Station For Rent

      2,000 SF service station centrally located on east/west corridor.
      363 Glen Rd, Sparta, NJ 07871
      View Details
    • $2,554 /Mo
      13,000 SF

      Premier Sparta Office Building Space

      Office space available in a beautiful Sparta building with parking.
      9 Fishers Ln, Sparta, NJ 07871
      View Details
    • $1,850 /Mo
      270,508 SF

      Office Suite in Sparta Township

      Second-floor office suite with elevator access and lobby views.
      191 Woodport Rd, Sparta, NJ 07871
      View Details
    • Contact for pricing
      3,122 SF

      Sparta Retail Center - Route 15

      Prime Sussex County retail space available.
      1 Vlg Blvd, Sparta, NJ 07871
      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.
    320 Sparta Ave
    Sparta, NJ 07871-1112
    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.