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

    488 Newark Pompton Tpke Pompton Plains, NJ 07444-1936

    • Commercial real estate
    • 2,214 SF
    • 0.74 lot acres
    OFF-MARKET
    Last Sale
    Mar 20, 2024
    $560,000
    Value Estimations
    $560,000
    Show details
    Cap Rate Potential
    2.9%
    Commercial real estate
    Location Intelligence
    Property ID
    US59-1899569
    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 488 Newark Pompton Tpke

    Year built
    1967
    Construction
    BRICK
    Lot size
    0.74 lot acres
    Property size
    2,214 SF
    Zone code
    R-11
    Property type
    Commercial real estate
    APN
    31 02602-0000-00001
    APU
    3102602000000001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $560,000
      ML approach
      $560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $624,000
      Market price range: $322k - $803k
      AI Estimate
      $424,000
      Market price range: $186k - $588k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $540,000
      Current use
      OFFICE BUILDING
      $465,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Pompton Plains
    County
    Morris
    State
    New Jersey
    Longitude
    -74.2939
    Latitude
    40.9605
    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
    $13,209
    $281,400
    $278,800
    $560,200
    -
    $281,400
    $278,800
    $560,200

    Comparable in this City

    • Value Estimation by Request
      0.70 Acres

      581-591 Tpke Turnpike

      COMMERCIAL (GENERAL) • 0.70 Acres
      581-591 Tpke Turnpike, Pompton Plains, NJ 07444
      View Details
    • Value Estimation by Request
      0.52 Acres

      543 Tpke Tpke, Unit 545

      COMMERCIAL (GENERAL) • 0.52 Acres
      543 Tpke Tpke, Pompton Plains, NJ 07444-1779
      View Details
    • Value Estimation by Request
      2.44 Acres

      702 Newark Pompton Tpke

      COMMERCIAL (GENERAL) • 2.44 Acres
      702 Newark Pompton Tpke, Pompton Plains, NJ 07444-1332
      View Details
    • Value Estimation by Request
      0.87 Acres

      588 Newark Pompton Tpke

      COMMERCIAL (GENERAL) • 0.87 Acres
      588 Newark Pompton Tpke, Pompton Plains, NJ 07444-1785
      View Details
    • Value Estimation by Request
      0.72 Acres

      729 State Rt 23

      COMMERCIAL (GENERAL) • 0.72 Acres
      729 State Rt 23, Pompton Plains, NJ 07444-1421
      View Details
    • Value Estimation by Request
      0.55 Acres

      933 State Rt 23

      COMMERCIAL (GENERAL) • 0.55 Acres
      933 State Rt 23, Pompton Plains, NJ 07444-1047
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      80,000 SF

      Industrial Warehouse Condo For Sale

      12,836 SF light industrial warehouse condo near Route 23.
      220 Parkway West, Pompton Plains, NJ 07444
      View Details
    • $429,900

      Move-In-Condition First Floor Condo

      First floor condo in sought-after Glens Community.
      5314 Tudor Dr, Pompton Plains, NJ 07444
      View Details
    • $1,490,000
      5,286 SF

      Industrial/Office/Warehouse Condominium Unit For Sale

      Large industrial/office/warehouse condominium unit in Pequannock Twp., NJ.
      230 Parkway W, Pompton Plains, NJ 07444
      View Details

    Similar Nearby for Lease

    • $2,750 /Mo
      11,000 SF

      Route 23 Office Space Available

      Street-level office space with high visibility on Route 23.
      142 State Rt 23-, Pompton Plains, NJ 07444
      View Details
    • $1,975 /Mo

      Move-in Ready Office Space Available

      Ground-level office space suitable for various professional services.
      933 State Rt 23, Pompton Plains, NJ 07444
      View Details
    • $750 /Mo

      Move-in Ready Office Space

      Office space for rent in a convenient location.
      913 State Rt 23, Pompton Plains, NJ 07444
      View Details
    • Contact for pricing
      80,000 SF

      Westpark Business Center Warehouse Condo

      5,023 SF warehouse/office space near Route 23 and I-287.
      210 Parkway West, Pompton Plains, NJ 07444
      View Details
    • $4,600 /Mo
      5,531 SF

      Open Space on Busy Highway

      Open space suitable for a gym or other business.
      424 State Rt 23, Pompton Plains, NJ 07444
      View Details
    • Contact for pricing
      16,615 SF

      Route 23 Executive Office Space

      Prime Pequannock Office, 6,615 SF Available
      620 Pequannock Ave, Pequannock Township, NJ 07444
      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.
    488 Newark Pompton Tpke
    Pompton Plains, NJ 07444-1936
    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.