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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6 Carey Ave Kinnelon, NJ 07405-1408

    • Industrial properties
    • 2,864 SF
    • 0.77 lot acres
    OFF-MARKET
    Last Sale
    Sep 28, 2021
    $450,000
    Value Estimations
    $505,000
    Show details
    Cap Rate Potential
    5%
    Industrial properties
    Location Intelligence
    Property ID
    US59-1740870
    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

    • DMC Associates Inc Land Surveyors / Land Surveyor
    • Lakeland Bank / Loan Agency / Atm

    Property Details for 6 Carey Ave

    Construction
    BRICK
    Lot size
    0.77 lot acres
    Property size
    2,864 SF
    Zone code
    CBD
    Property type
    Industrial properties
    APN
    03 00027- 01-00011- 01
    APU
    300027010001101

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $640,000
      ML approach
      $615,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $535,000
      6.5%
      $495,000
      7%
      $460,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $391,000
      Market price range: $81.0k - $391k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $510,000
      Current use
      OFFICE BUILDING
      $600,000
      Change: +17% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $600,000
      Change: +17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Kinnelon
    County
    Morris
    State
    New Jersey
    Longitude
    -74.34
    Latitude
    41.0008
    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
    $21,726
    $420,900
    $379,500
    $800,400
    -
    $420,900
    $379,500
    $800,400

    Comparable in this City

    • Value Estimation
      $7,600,000
      65,723 SF

      250 Hamburg Tpke

      INDUSTRIAL (GENERAL) • 65,723 SF
      250 Hamburg Tpke, Butler, NJ 07405-1526
      View Details
    • Value Estimation
      $1,000,000
      9,600 SF

      309 Hamburg Tpke

      INDUSTRIAL (GENERAL) • 9,600 SF
      309 Hamburg Tpke, Butler, NJ 07405-1544
      View Details
    • Value Estimation
      $695,000
      4,836 SF

      10 Laurel Trl

      INDUSTRIAL (GENERAL) • 4,836 SF
      10 Laurel Trl, Kinnelon, NJ 07405-2210
      View Details
    • Value Estimation
      $765,000
      5,600 SF

      15-17 Main St, Unit 17

      INDUSTRIAL (GENERAL) • 5,600 SF
      15-17 Main St, Butler, NJ 07405-1057
      View Details
    • Value Estimation
      $7,680,000
      3,876 SF

      1224 State Rt 23

      INDUSTRIAL (GENERAL) • 3,876 SF
      1224 State Rt 23, Butler, NJ 07405-2035
      View Details
    • Value Estimation
      $1,405,000
      11,224 SF

      97 Decker Rd

      INDUSTRIAL (GENERAL) • 11,224 SF
      97 Decker Rd, Butler, NJ 07405-1561
      View Details

    Similar Nearby for Sale

    • $330,000

      Kinnelon Land For Sale

      Land available for sale in Kinnelon, New Jersey.
      11 Wilshire Ter, Kinnelon, NJ 07405
      View Details
    • $295,000

      Move-In Ready Office Suite

      Spacious, centrally located office suite on busy Route 23.
      1395 State Rt 23, Butler, NJ 07405
      View Details
    • $1,250,000
      7,914 SF

      Commercial Property in Butler Boro

      Commercial property for sale in Butler Boro, New Jersey.
      1375 State Rt 23, Butler, NJ 07405
      View Details
    • $49,000
      0.01 Acres

      Kinnelon Boro Office Condo

      Office condo in Kinnelon Professional Complex, near Route 23.
      170 Kinnelon Rd -, Butler, NJ 07405
      View Details
    • $154,900
      0.03 Acres

      15 Kiel Ave, Kinnelon, NJ 07405

      Commercial real estate • 0.03 Acres
      15 Kiel Ave, Kinnelon, NJ 07405
      View Details
    • $250,000

      Vacant Land in Gated Community

      Vacant land available within a gated community.
      2 Kent Brk Ter, Butler, NJ 07405
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      600 SF

      Two-Story Brick Office Building

      Two-story office building with on-site parking and management.
      1250 State Rt 23, Butler, NJ 07405
      View Details
    • $1,200 /Mo

      Prime Commercial Space in Butler

      650 sq ft commercial space in vibrant business district.
      16 Main St, Butler, NJ 07405
      View Details
    • $550 /Mo
      436 SF

      Office Condo in Kinnelon

      Prime office condo for rent with easy highway access.
      170 Kinnelon Rd, Butler, NJ 07405
      View Details
    • $1,050 /Mo
      1,600 SF

      Renovated Retail Space Available

      Newly renovated retail space with storefront and bathroom for rent.
      174 Main St, Butler, NJ 07405
      View Details
    • $1,200 /Mo
      7,914 SF

      Highway 23 Commercial Space

      Commercial space on Highway 23 with ample parking.
      1375 State Rt 23, Butler, NJ 07405
      View Details
    • $2,900 /Mo

      Updated Two-Bedroom Apartment For Rent

      Freshly painted 2-bedroom apartment with updated kitchen and bathroom.
      84 Reservoir Ave, Butler, NJ 07405
      View Details
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    6 Carey Ave
    Kinnelon, NJ 07405-1408
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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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