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

    516 Lafayette Rd Sparta, NJ 07871-3576

    • Commercial real estate
    • 7,200 SF
    • 1.75 lot acres
    OFF-MARKET
    Last Sale
    Jun 23, 2023
    Value Estimations
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0342929
    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 516 Lafayette Rd

    Year built
    2008
    Lot size
    1.75 lot acres
    Property size
    7,200 SF
    Zone code
    PCED
    Property type
    Commercial real estate
    APN
    18 12008-0000-00018
    APU
    1812008000000018

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $897,000
      Market price range: $898k - $1.67M
      AI Estimate
      $455,000
      Market price range: $368k - $1.10M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sparta
    County
    Sussex
    State
    New Jersey
    Longitude
    -74.6631
    Latitude
    41.0758
    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
    $20,477
    $131,300
    $470,600
    $601,900
    -
    $131,300
    $470,600
    $601,900

    Comparable in this City

    • Value Estimation by Request

      265 Woodport Rd

      COMMERCIAL (GENERAL)
      265 Woodport Rd, Sparta, NJ 07871-2638
      View Details
    • Value Estimation
      $2,790,000
      31,662 SF

      5 Gail Ct

      COMMERCIAL (GENERAL) • 31,662 SF
      5 Gail Ct, Sparta, NJ 07871-3438
      View Details
    • Value Estimation by Request
      3,350 SF

      2 Main St

      COMMERCIAL (GENERAL) • 3,350 SF
      2 Main St, Sparta, NJ 07871-7000
      View Details
    • Value Estimation by Request
      6.21 Acres

      191 Woodport Rd

      Commercial real estate • 6.21 Acres
      191 Woodport Rd, Sparta, NJ 07871
      View Details
    • Value Estimation by Request

      386 Lafayette Rd, Unit T03

      COMMERCIAL (GENERAL)
      386 Lafayette Rd, Sparta, NJ 07871-3556
      View Details
    • Value Estimation by Request

      2 Larikat Ln

      COMMERCIAL (GENERAL)
      2 Larikat Ln, Sparta, NJ 07871-3044
      View Details

    Similar Nearby for Sale

    • 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
    • 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

      Lake Mohawk Club Lot Access

      Recreational land with Lake Mohawk Country Club access.
      17 Ledgewood Trl Clb, Sparta, NJ 07871
      View Details
    • $350,000
      Pending

      Commercial Property in Prime Location

      High-visibility commercial building renovated in 2016, ideal for various businesses.
      151 Woodport Rd, Sparta, NJ 07871
      View Details
    • Contact for pricing
      13,000 SF

      Sparta Office Space - 13,000 SF

      Prime Sparta office, 1.8 acres, ample parking.
      9 Fishers Ln, Sparta, NJ 07871
      View Details
    • $1,740,000

      87 Acres in Sparta Township

      Rare 87-acre land opportunity in prestigious Sparta Township, New Jersey.
      86 Lafayette 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
    • $144,000
      16,115 SF

      Sparta Plaza: Prime Office Space

      NJ Medical & Creative Offices Available
      191 Woodport Rd, Sparta Township, NJ 07871
      View Details
    • Contact for pricing
      3 SF

      Vacant Land Ready for Development

      3.03 acre vacant land parcel zoned for retail/development.
      59 Sparta Ave, Sparta, NJ 07871
      View Details
    • Contact for pricing
      270,508 SF

      Turn Key Restaurant Opportunity

      Turn key restaurant space for lease in Sparta Twp.
      191 Woodport Rd, Sparta, NJ 07871
      View Details
    • $1,250 /Mo
      270,508 SF

      Office Space with Elevator Access

      Second-floor office suite with utilities included in Sparta Twp.
      191 Woodport Rd, 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.
    516 Lafayette Rd
    Sparta, NJ 07871-3576
    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.