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

    515 Springfield Rd Kenilworth, NJ 07033-1090

    • Commercial real estate
    • 2,865 SF
    • 0.29 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2087122
    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

    • Realty Executives / Real Estate Agency
    • American Melts / Take-out & Catering
    • DiBella Financial Group / Insurance Agency
    • LNR Auto Transport Yard / Corporate Office
    • 1st Metropolitan Mortgage / Loan Service / Bank

    Property Details for 515 Springfield Rd

    Year built
    1793
    Construction
    FRAME
    Lot size
    0.29 lot acres
    Property size
    2,865 SF
    Property type
    Commercial real estate
    APN
    08 00003-0000-00011
    APU
    800003000000011

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kenilworth
    County
    Union
    State
    New Jersey
    Longitude
    -74.2983
    Latitude
    40.6854
    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
    $8,370
    $72,800
    $83,700
    $156,500
    -
    $72,800
    $83,700
    $156,500

    Comparable in this City

    • Value Estimation by Request
      0.91 Acres

      720 Blvd Boulevard

      COMMERCIAL (GENERAL) • 0.91 Acres
      720 Blvd Boulevard, Kenilworth, NJ 07033-1704
      View Details
    • Value Estimation by Request
      0.23 Acres

      467 Blvd Boulevard

      COMMERCIAL (GENERAL) • 0.23 Acres
      467 Blvd Boulevard, Kenilworth, NJ 07033-1664
      View Details
    • Value Estimation
      $1,800,000
      0.11 Acres

      614 Blvd Boulevard

      COMMERCIAL (GENERAL) • 0.11 Acres
      614 Blvd Boulevard, Kenilworth, NJ 07033-1612
      View Details
    • Value Estimation by Request
      1,500 SF

      741 Blvd Boulevard

      COMMERCIAL (GENERAL) • 1,500 SF
      741 Blvd Boulevard, Kenilworth, NJ 07033-1703
      View Details
    • Value Estimation
      $605,000
      6.55 Acres

      801 Blvd Boulevard

      COMMERCIAL (GENERAL) • 6.55 Acres
      801 Blvd Boulevard, Kenilworth, NJ 07033-1719
      View Details
    • Value Estimation by Request
      0.14 Acres

      61 21st St

      COMMERCIAL (GENERAL) • 0.14 Acres
      61 21st St, Kenilworth, NJ 07033-1625
      View Details

    Similar Nearby for Sale

    • $150,000

      Kenilworth Restaurant - Turnkey Opportunity

      Established Restaurant, Priced to Sell!
      700 Blvd Blvd, Kenilworth, NJ 07033
      View Details
    • $975,000
      2,600 SF

      Auto Repair Shop For Sale

      Full-service auto repair shop with equipment and real estate included.
      305 S Michigan Ave, Kenilworth, NJ 07033
      View Details
    • $975,000
      2,600 SF

      Auto Repair Shop For Sale

      Full-service auto repair shop with equipment and client history included.
      305 S Michigan Ave, Kenilworth, NJ 07033
      View Details
    • Contact for pricing
      30,000 SF

      Kenilworth Industrial Warehouse

      30,000 SF Warehouse, Owner/User
      185 Sumner Ave, Kenilworth, NJ 07033
      View Details
    • Contact for pricing
      17,000 SF

      Renovated Industrial Buildings with Yard

      Two renovated industrial buildings with yard space and below-market rents.
      136 Market St, Kenilworth, NJ 07033
      View Details
    • $200,000

      Turnkey Brewery and Biergarten

      Operational brewery and biergarten with strong local recognition for sale.
      730 Federal Ave, Kenilworth, NJ 07033
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      15,000 SF

      Kenilworth Office/Medical Space Available

      First floor office/medical space for lease in Kenilworth, NJ.
      37 Market St, Kenilworth, NJ 07033
      View Details
    • $2,200 /Mo

      Kenilworth Retail/Office Commercial Space

      1,700 sq ft open layout in Kenilworth's commercial district.
      340 Monroe Ave, Kenilworth, NJ 07033
      View Details
    • $16 SF/Yr
      23,400 SF

      Kenilworth Warehouse with Retail Zoning

      23,400 SF warehouse with retail and wholesale zoning.
      515 N Michigan Ave, Kenilworth, NJ 07033
      View Details
    • Contact for pricing
      8,000 SF

      Route 22 East Retail Space

      High-traffic Kenilworth retail space available
      2526 Rte 22, Kenilworth, NJ 07033
      View Details
    • Contact for pricing
      40,000 SF

      Kenilworth Industrial Space For Lease

      Industrial space for lease in Kenilworth, New Jersey.
      251 Monroe Ave, Kenilworth, NJ 07033
      View Details
    • $5 SF/Yr
      10,000 SF

      Kenilworth Warehouse and Office Space

      Warehouse and office space available for lease in Kenilworth.
      100-112 N 10Th St, Kenilworth, NJ 07033
      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.
    515 Springfield Rd
    Kenilworth, NJ 07033-1090
    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.