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    Property profile & analytics

    598 State St, Unit 606 Perth Amboy, NJ 08861-3556

    • Office buildings
    • 10,020 SF
    • 0.54 lot acres
    OFF-MARKET
    Value Estimations
    $1,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1109629
    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

    • Citizens / Financial Advisor
    • Citizens ATM / Atm

    Property Details for 598 State St

    Year built
    2005
    Lot size
    0.54 lot acres
    Property size
    10,020 SF
    Zone code
    S-2A
    Property type
    Office buildings
    APN
    16 00353- 01-00003- 06
    APU
    1600353010000306

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,341,000
      Market price range: $1.95M - $3.56M
      AI Estimate
      $1,364,000
      Market price range: $898k - $2.32M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,740,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $2,470,000
      Change: -10% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,230,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Perth Amboy
    County
    Middlesex
    State
    New Jersey
    Longitude
    -74.2642
    Latitude
    40.5186
    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
    $39,568
    $333,900
    $996,100
    $1,330,000
    -
    $333,900
    $996,100
    $1,330,000

    Comparable in this City

    • Value Estimation
      $905,000
      5,997 SF

      40 New Brunswick Ave

      OFFICE BUILDING • 5,997 SF
      40 New Brunswick Ave, Perth Amboy, NJ 08861-5000
      View Details
    • Value Estimation by Request
      1,066 SF

      71 Pond Rd

      OFFICE BUILDING • 1,066 SF
      71 Pond Rd, Perth Amboy, NJ 08861-1540
      View Details
    • Value Estimation
      $3,135,000
      22,000 SF

      262 State St

      OFFICE BUILDING • 22,000 SF
      262 State St, Perth Amboy, NJ 08861-4348
      View Details
    • Value Estimation
      $2,010,000
      12,105 SF

      420 Fayette St

      OFFICE BUILDING • 12,105 SF
      420 Fayette St, Perth Amboy, NJ 08861-3835
      View Details
    • Value Estimation by Request
      2,250 SF

      202 Jefferson St

      OFFICE BUILDING • 2,250 SF
      202 Jefferson St, Perth Amboy, NJ 08861-4106
      View Details
    • Value Estimation
      $1,360,000
      8,654 SF

      462 Market St

      OFFICE BUILDING • 8,654 SF
      462 Market St, Perth Amboy, NJ 08861-4527
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,060 SF

      Versatile Commercial Space For Sale

      Adaptable commercial space suitable for office or retail use.
      100 W Pond Rd, Perth Amboy, NJ 08861
      View Details
    • New
      Contact for pricing
      2,552 SF

      Perth Amboy Storefront For Sale

      Storefront unit suitable for retail or office use on main street.
      287 New Brunswick Ave, Perth Amboy, NJ 08861
      View Details
    • Contact for pricing

      Office Space for Sale

      Office property available for sale in Hopelawn, New Jersey.
      157 New Brunswick Ave, Hopelawn, NJ 08861
      View Details
    • New
      Contact for pricing
      976 SF

      Storefront Unit on Main Street

      Versatile commercial space ideal for retail or office use.
      287 New Brunswick Ave, Perth Amboy, NJ 08861
      View Details
    • New
      Contact for pricing
      5,768 SF

      Perth Amboy Office/Medical Space

      1,191 SF office/medical space in Perth Amboy, NJ.
      613 Amboy Ave, Perth Amboy, NJ 08861
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      1,744 SF

      Perth Amboy Office Space For Lease

      Prime Office, 1744 sq ft, High Visibility
      485 New Brunswick Ave, Perth Amboy, NJ 08861
      View Details
    • $4 SF/Yr
      2,964 SF

      Prime Commercial Space, Brace Ave.

      Fully renovated office, all utilities included.
      663 Brace Ave, Perth Amboy, NJ 08861
      View Details
    • Contact for pricing

      Commercial Land in Perth Amboy

      Commercial opportunity with office space, parking, shop, and storage.
      70 Fayette St, Perth Amboy, NJ 08861
      View Details
    • $2 SF/Yr
      12,312 SF

      Fayette Street Commercial Land Opportunity

      Prime Retail Land, Single Tenant, 12,312 SF
      587 Fayette St, Perth Amboy, NJ 08861
      View Details
    • Contact for pricing
      2,445 SF

      Retail Space For Rent

      Retail space available for rent.
      101 New Brunswick Ave, Hopelawn, NJ 08861
      View Details
    • Contact for pricing
      10,700 SF

      Industrial Space with Multiple Doors

      10,700 SF industrial space featuring 11 drive-in and dock doors.
      440 Florida Grove Rd, Perth Amboy, NJ 08861
      View Details
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    Perth Amboy, NJ 08861-3556
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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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