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    401 Nn Ave Garwood, NJ 07027-1062

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    401 Nn Ave Garwood, NJ 07027-1062

    View on Map
    • Commercial real estate
    • 4,970 SF
    • 0.06 lot acres
    Off-Market
    Property ID
    US59-0210406
    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
    $660,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garwood Coins Inc & Jewelry Exchange / (Bike/Boat/Book/etc) Store
    • Luigino tailor shop / (Bike/Boat/Book/etc) Store
    • Garwood Clock / Tour Operator

    Property Details for 401 Nn Ave

    Year built
    1901
    Construction
    BRICK
    Lot size
    0.06 lot acres
    Property size
    4,970 SF
    Property type
    Commercial real estate
    APN
    06 00113-0000-00002
    APU
    600113000000002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $838,000
      Market price range: $762k - $1.84M
      AI Estimate
      $423,000
      Market price range: $295k - $945k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,010,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Garwood
    County
    Union
    State
    New Jersey
    Longitude
    -74.3255
    Latitude
    40.6531
    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
    $14,710
    $149,400
    $409,500
    $558,900
    -
    $149,400
    $409,500
    $558,900

    Comparable in this City

    • Value Estimation
      $15,510,000
      79,864 SF

      300 Ss Ave

      COMMERCIAL (GENERAL) • 79,864 SF
      300 Ss Ave, Garwood, NJ 07027-1312
      View Details
    • Value Estimation
      $1,925,000
      14,450 SF

      150 Ss Ave

      COMMERCIAL (GENERAL) • 14,450 SF
      150 Ss Ave, Garwood, NJ 07027-1340
      View Details
    • Value Estimation
      $2,450,000
      11,945 SF

      301 Nn Ave, Unit 307

      COMMERCIAL (GENERAL) • 11,945 SF
      301 Nn Ave, Garwood, NJ 07027-1001
      View Details
    • Value Estimation
      $2,765,000
      15,192 SF

      325 Ss Ave, Unit 331

      COMMERCIAL (GENERAL) • 15,192 SF
      325 Ss Ave, Garwood, NJ 07027-1343
      View Details
    • Value Estimation
      $630,000
      3,150 SF

      91 Ctr St

      COMMERCIAL (GENERAL) • 3,150 SF
      91 Ctr St, Garwood, NJ 07027-1251
      View Details
    • Value Estimation by Request
      1,692 SF

      93 Ctr St

      COMMERCIAL (GENERAL) • 1,692 SF
      93 Ctr St, Garwood, NJ 07027-1231
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1.81 Acres

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      Prime Garwood location, high visibility, strong demographics.
      500 North Ave, Garwood, NJ 07027
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    • Contact for pricing
      10,600 SF

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      10,600 SF warehouse with 18' ceilings and drive-in doors.
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      0.16 Acres

      Garwood Boro Mixed-Use Property

      First floor commercial space with high visibility and open floorplan.
      245 South Ave, Garwood, NJ 07027
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    Similar Nearby for Lease

    • $2,400 /Mo

      Spacious Apartment in Prime Location

      Bright, two-bedroom apartment near transit, shopping, and dining.
      400 Myrtle Ave, Garwood, NJ 07027
      View Details
    • $2,725 /Mo

      105 Center St 2, Garwood, NJ 07027-1265

      Specialty properties
      105 Center St, Garwood, NJ 07027
      View Details
    • Contact for pricing
      9,260 SF

      Garwood Warehouse and Industrial Space

      Two buildings totaling 28,460 SF available for lease.
      477 North Ave, Garwood, NJ 07027
      View Details
    • Contact for pricing

      Retail Space Near Garwood Station

      Retail space with high visibility near train and ShopRite.
      508 North Ave, Garwood, NJ 07027
      View Details
    • Contact for pricing
      19,210 SF

      Industrial Buildings with A/C

      Two industrial buildings totaling 28,460 SF available for lease.
      475 North Ave, Garwood, NJ 07027
      View Details
    • Contact for pricing

      Office / Medical Space Available

      Office or medical space available for lease or sale.
      216 North Ave, Garwood, NJ 07027
      View Details
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    Garwood, NJ 07027-1062
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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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