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

    386 Lafayette Ave Hawthorne, NJ 07506-2543

    • Commercial real estate
    • 2,486 SF
    OFF-MARKET
    Last Sale
    Jun 24, 2021
    $605,000
    Value Estimations
    $605,000
    Show details
    Cap Rate Potential
    4.1%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-1530051
    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 386 Lafayette Ave

    Year built
    1903
    Construction
    FRAME
    Property size
    2,486 SF
    Zone code
    O-1
    Property type
    Commercial real estate
    APN
    04 00096-0000-00005
    APU
    400096000000005

    Description

    This exceptional two-story, 2,770 square foot medical office building in Hawthorne, New Jersey, is available for $1,150,000. Located at 386 Lafayette Ave, 07506, this Class B property sits on a 12,960 square foot lot and features ample parking. The building, renovated in 2021, boasts updated mechanicals including central air and heat, and updated plumbing with sinks in nearly every room. The interior includes a reception area, a large waiting room, six spacious exam rooms, a staff lounge, storage space, and dedicated office areas. A partially finished basement offers additional space, potentially suitable for billing or other administrative functions. Three ADA-compliant restrooms are conveniently located on each floor, including the basement, and an ADA-accessible ramp ensures easy access. The current tenant, St. Joseph's Primary Care, will vacate on November 1st, 2024, making this a truly turnkey opportunity for a new medical practice. The property is offered as a Net Net Net (NNN) lease. This is a rare opportunity to acquire a well-maintained, modern medical office building in a desirable location. The building is a single unit, one building, and is for sale by owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $760,000
      ML approach
      $790,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $515,000
      6.5%
      $475,000
      7%
      $440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $658,000
      Market price range: $417k - $659k
      AI Estimate
      $519,000
      Market price range: $251k - $520k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $545,000
      Current use
      OFFICE BUILDING
      $460,000
      Change: -16% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Hawthorne
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1557
    Latitude
    40.9513
    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
    $23,948
    $329,700
    $482,100
    $811,800
    -
    $329,700
    $482,100
    $811,800

    Comparable in this City

    • Value Estimation by Request
      1.66 Acres

      236 6th Ave

      COMMERCIAL (GENERAL) • 1.66 Acres
      236 6th Ave, Hawthorne, NJ 07506
      View Details
    • Value Estimation by Request
      1.36 Acres

      196 6th Ave, Unit 222

      COMMERCIAL (GENERAL) • 1.36 Acres
      196 6th Ave, Hawthorne, NJ 07506-1556
      View Details
    • Value Estimation by Request

      425 Lafayette Ave

      COMMERCIAL (GENERAL)
      425 Lafayette Ave, Hawthorne, NJ 07506-2516
      View Details
    • Value Estimation by Request

      588 Lafayette Ave

      COMMERCIAL (GENERAL)
      588 Lafayette Ave, Hawthorne, NJ 07506-2444
      View Details
    • Value Estimation by Request
      0.42 Acres

      92 Goffle Rd

      COMMERCIAL (GENERAL) • 0.42 Acres
      92 Goffle Rd, Hawthorne, NJ 07506
      View Details
    • Value Estimation by Request
      0.63 Acres

      1140 Goffle Rd

      COMMERCIAL (GENERAL) • 0.63 Acres
      1140 Goffle Rd, Hawthorne, NJ 07506-2024
      View Details

    Similar Nearby for Sale

    • $1,099,000
      9,999 SF

      Hawthorne Mixed-Use Income Property

      Three-story mixed-use property with retail and residential units.
      213 Van Winkle Ave, Hawthorne, NJ 07506
      View Details
    • $70,000

      Turnkey Chocolate Shop Opportunity

      Recently established chocolate shop for sale with training available.
      580 Lafayette Ave, Hawthorne, NJ 07506
      View Details
    • $899,000

      Hawthorne Property for Sale

      Property in Hawthorne, NJ available for purchase.
      868 Goffle Rd, Hawthorne, NJ 07506
      View Details
    • $625,000
      Pending

      Updated Multi-Family Investment Property

      Updated two-unit property in Hawthorne Boro, NJ, with reliable tenants.
      76 Mohawk Ave, Hawthorne, NJ 07506
      View Details
    • $1,700,000
      15,000 SF

      Hawthorne, NJ Industrial Property

      15,000 SF Warehouse, 9% Cap Rate
      109 Ethel Ave, Hawthorne, NJ 07506
      View Details
    • $50,000

      Restaurant Opportunity in Hawthorne

      Active restaurant business for sale in Hawthorne, NJ.
      409 Lafayette Ave, Hawthorne, NJ 07506
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,000 SF

      Retail Space with High Traffic

      Large retail space with parking, loading dock, and refrigerators.
      68 E 15Th St, Paterson, NJ 07506
      View Details
    • $2,600 /Mo

      Renovated Apartment in Colonial Home

      Renovated 2-bedroom apartment with modern amenities and backyard access.
      178-70 South Ave, Hawthorne, NJ 07506
      View Details
    • $2,600 /Mo

      Renovated Two-Bedroom Unit for Rent

      Modern, renovated 2-bedroom unit near transportation and downtown shops.
      47 Ekings Ave, Hawthorne, NJ 07506
      View Details
    • $26 SF/Yr
      4,860 SF

      Hawthorne Office Space Available

      4,860 square feet of office space for lease.
      1114 Goffle Rd, Hawthorne, NJ 07506
      View Details
    • Contact for pricing
      12,450 SF

      Retail Space in Hawthorne, NJ

      Retail space available in Hawthorne, New Jersey shopping center.
      111 Wagaraw Rd, Hawthorne, NJ 07506
      View Details
    • Contact for pricing

      Hawthorne Retail Land Opportunity

      Prime 3.97-acre site for lease.
      2 Wagaraw Rd, Hawthorne, NJ 07506
      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.
    386 Lafayette Ave
    Hawthorne, NJ 07506-2543
    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.