Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    585 N Michigan Ave Kenilworth, NJ 07033
    Back to Search
    Property profile & analytics

    585 N Michigan Ave, Kenilworth, NJ 07033

    View on Map
    • Industrial properties
    • 2.03 lot acres
    For Lease
    $4,700,000
    View Listing →
    Warehouse and Office Space Available For Lease
    $4,700,000
    30,000 SF

    Warehouse and Office Space Available

    30,000 SF warehouse/maintenance facility on 2.03 acres.

    585 N Michigan Ave, Kenilworth, NJ 7033
    View Listing
    Property ID
    US59-2119523
    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
    $4,700,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dufek Plumbing / General Contractor

    Property Details for 585 N Michigan Ave

    Construction
    CONCRETE BLOCKS
    Lot size
    2.03 lot acres
    Property type
    Industrial properties
    APN
    08 00001-0000-00008
    APU
    800001000000008

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 26, 2023 $4,700,000 Ganga LLC 585 Holding LLC Deed $1.3M · Dalbindar Singh
    Jun 26, 2001 — 585 Holding LLC 585 Associates Quit Claim Deed · related —
    Dec 15, 1990 $900,000 585 Associates Unknown Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,700,000
      ML approach
      $4,440,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Kenilworth
    County
    Union
    State
    New Jersey
    Longitude
    -74.2931
    Latitude
    40.6871
    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
    $48,148
    $406,000
    $494,300
    $900,300
    -
    $406,000
    $494,300
    $900,300

    Comparable in this City

    • Value Estimation
      $510,000
      2.94 Acres

      40 Boright Ave

      INDUSTRIAL (GENERAL)
      40 Boright Ave, Kenilworth, NJ 07033-1015
      View Details
    • Value Estimation by Request
      35.58 Acres

      251 Monroe Ave

      INDUSTRIAL (GENERAL)
      251 Monroe Ave, Kenilworth, NJ 07033-1106
      View Details
    • Value Estimation by Request
      1.00 Acre

      600 Michigan Ave

      INDUSTRIAL (GENERAL)
      600 Michigan Ave, Kenilworth, NJ 07033
      View Details
    • Value Estimation by Request
      0.33 Acres

      636 Michigan Ave

      INDUSTRIAL (GENERAL)
      636 Michigan Ave, Kenilworth, NJ 07033-1042
      View Details
    • Value Estimation
      $505,000
      1.08 Acres

      515 Michigan Ave

      INDUSTRIAL (GENERAL)
      515 Michigan Ave, Kenilworth, NJ 07033-1076
      View Details
    • Value Estimation by Request
      0.93 Acres

      121 Michigan Ave

      INDUSTRIAL (GENERAL)
      121 Michigan Ave, Kenilworth, NJ 07033-1261
      View Details

    Similar Nearby for Sale

    • 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
    • Contact for pricing
      30,000 SF

      Industrial Building in Kenilworth, NJ

      20,000 SF industrial building on 1 acre for sale.
      185 W Sumner Ave, Kenilworth, NJ 07033
      View Details
    • Contact for pricing

      Turn-Key Restaurant Business Opportunity

      Well-organized, fully equipped restaurant ready for new ownership.
      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 client history included.
      305 S Michigan Ave, Kenilworth, NJ 07033
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Property Near Train Station

      Mixed-use property with 32 parking spots, near train station.
      185 W Sumner Ave, Kenilworth, NJ 07033
      View Details
    • Contact for pricing
      1,500 SF

      Kenilworth Warehouse Space Available

      1,500 SF warehouse space for rent, flexible lease term.
      101 N 8Th St, Kenilworth, NJ 07033
      View Details
    • Contact for pricing

      Warehouse and Office Space Available

      30,000 SF warehouse/maintenance facility on 2.03 acres.
      585 N Michigan Ave, Kenilworth, NJ 07033
      View Details
    • Contact for pricing

      Industrial Building with Yard Space

      2500 SF industrial building featuring a dock and drive-in.
      742 Fairfield Ave, 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
    • Contact for pricing
      10,000 SF

      Kenilworth Warehouse and Office Space

      Warehouse and office space available for lease in Kenilworth.
      100-124 N 10Th St, Kenilworth, NJ 07033
      View Details
    View Listing
    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.
    585 N Michigan Ave
    Kenilworth, NJ 07033
    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

    Thank You for Inquiry
    585 N Michigan Ave, Kenilworth, NJ, 07033
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!