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    540 Passaic Ave West Caldwell, NJ 07006

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    540 Passaic Ave West Caldwell, NJ 07006

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    • Commercial real estate
    • 49,428 SF
    • 5.02 lot acres
    For Lease
    $9,460,000
    View Listing →
    West Caldwell Retail/Warehouse Space For Lease
    $9,460,000
    50,468 SF

    West Caldwell Retail/Warehouse Space

    Retail/warehouse space with loading docks and pylon sign.

    540 Passaic Ave, West Caldwell, NJ
    View Listing
    Property ID
    US59-1914949
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • ShopRite Pharmacy of West Caldwell / Pharmacy
    • ShopRite of West Caldwell / Grocery & Convenience Store / Food Market
    • Scott Maran / Pharmacy
    • Johanna Ruth / Pharmacy
    • Shoprite Pharmacy / Pharmacy

    Property Details for 540 Passaic Ave

    Year built
    1967
    Construction
    CONCRETE BLOCKS
    Lot size
    5.02 lot acres
    Property size
    49,428 SF
    Zone code
    B-3
    Property type
    Commercial real estate
    APN
    21 02101-0000-00007
    APU
    2102101000000007

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,370,000
      6.5%
      $10,495,000
      7%
      $9,745,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $8,725,000
      Market price range: $4.48M - $12.3M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $13,515,000

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

    Location Insight

    • Map
    • Local Demand
    City
    West Caldwell
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2969
    Latitude
    40.8482
    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
    2023
    $246,388
    $1,581,300
    $7,540,800
    $9,122,100
    -
    $1,581,300
    $7,540,800
    $9,122,100

    Comparable in this City

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      $755,000
      2.65 Acres

      33 Clinton Rd

      COMMERCIAL (GENERAL) • 2.65 Acres
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      View Details
    • Value Estimation
      $520,000
      0.83 Acres

      599 Passaic Ave

      COMMERCIAL (GENERAL) • 0.83 Acres
      599 Passaic Ave, West Caldwell, NJ 07006-6705
      View Details
    • Value Estimation
      $930,000
      4.07 Acres

      1120 Bloomfield Ave

      COMMERCIAL (GENERAL) • 4.07 Acres
      1120 Bloomfield Ave, West Caldwell, NJ 07006-7138
      View Details
    • Value Estimation
      $1,085,000
      4,146 SF

      15 Rickland Dr

      COMMERCIAL (GENERAL) • 4,146 SF
      15 Rickland Dr, Caldwell, NJ 07006-4184
      View Details
    • Value Estimation
      $1,005,000
      3,840 SF

      53 Bloomfield Ave

      COMMERCIAL (GENERAL) • 3,840 SF
      53 Bloomfield Ave, Caldwell, NJ 07006
      View Details
    • Value Estimation by Request
      0.69 Acres

      909 Bloomfield Ave

      COMMERCIAL (GENERAL) • 0.69 Acres
      909 Bloomfield Ave, West Caldwell, NJ 07006-7128
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      9,271 SF

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      Commercial property for sale on Bloomfield Avenue.
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      Korean Fried Chicken Franchise

      Established franchise opportunity in Caldwell, NJ with growth potential.
      350 Bloomfield Ave, Caldwell, NJ 07006
      View Details
    • $1,150,000
      Pending

      Sprawling Ranch in North Caldwell

      Brick ranch with 3-car garage in North Caldwell.
      27 Oak Pl, Caldwell, NJ 07006
      View Details
    • $399,000

      Undeveloped Land in West Caldwell

      Two parcels of vacant land totaling just under 6 acres.
      156 Fairfield Ave, West Caldwell, NJ 07006
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    Similar Nearby for Lease

    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in West Caldwell, NJ.
      875 Bloomfield Ave, West Caldwell, NJ 07006
      View Details
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      3,750 SF

      Retail Space on Roseland Avenue

      Retail space available for lease in Caldwell, New Jersey.
      60 Roseland Ave, Caldwell, NJ 07006
      View Details
    • Contact for pricing
      2,750 SF

      Retail Space in Caldwell, NJ

      Retail space available with high daytime population and traffic.
      9-11 Bloomfield Ave, Caldwell, NJ 07006
      View Details
    • Contact for pricing

      Industrial Park Specialty Property

      82,590 SF building on 6.87 acres near Interstate 80.
      2 Dedrick Pl, West Caldwell, NJ 07006
      View Details
    • $4,000 /Mo

      Luxury Office Building Corner Suite

      Second floor office suite in luxury building for rent.
      555 Passaic Ave, Caldwell, NJ 07006
      View Details
    • $3,900 /Mo

      Turnkey Restaurant Opportunity

      Fully equipped restaurant for rent, ready for new owner.
      373 Bloomfield Ave, Caldwell, NJ 07006
      View Details

    Property Visit Statistics

    • Visits by month
      123.3k
    • Visitors by month
      45.5k
    • Avg Time on site
      27 min
    View Listing
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    540 Passaic Ave
    West Caldwell, NJ 07006
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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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