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

    60 Owens Dr Wayne, NJ 07470

    • Warehouses
    • 41,700 SF
    • 6.34 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1073253
    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

    • KBA Physio Rehab LLC / Physician
    • TruGreen Lawn Care / Landscaping / General Contractor
    • Jennifer Saidel / Physician
    • Retro Fitness / Gym & Fitness Center
    • High Mountain Sports & Spine / Physician

    Property Details for 60 Owens Dr

    Lot size
    6.34 lot acres
    Property size
    41,700 SF
    Property type
    Warehouses
    APN
    14 02800-0000-00014- 02
    APU
    140280000000001402

    Description

    This exceptional 10,352-square-foot warehouse, located at 60 Owens Drive in Wayne, New Jersey, presents a significant opportunity for businesses seeking a single-tenant industrial space. The property boasts a flexible zoning designation, permitting warehousing, distribution, light manufacturing, or recreational uses, offering versatility for a wide range of operations. The warehouse features impressive ceiling heights ranging from 21 to 28 feet, providing ample vertical storage capacity and facilitating efficient material handling. Ample parking is available on-site, ensuring convenient access for employees and clients. The entire 10,352 square feet is currently vacant and immediately available for lease, making it an ideal solution for businesses needing quick occupancy. Situated in Passaic County, this strategically located warehouse offers easy access to major transportation arteries, streamlining logistics and distribution. The property's address is 60 Owens Drive, Wayne, NJ 07470. This is a single-tenant space, providing privacy and control over the entire facility. The building's size and features make it suitable for a variety of businesses seeking a functional and well-located industrial space in a thriving New Jersey market. Contact us today to schedule a viewing and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,775,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wayne
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.2154
    Latitude
    40.9502
    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
    $128,924
    $586,000
    $1,668,700
    $2,254,700
    -
    $586,000
    $1,668,700
    $2,254,700

    Comparable in this City

    • Value Estimation by Request
      256,931 SF

      20 Continental Dr, Unit 30

      WAREHOUSE, STORAGE • 256,931 SF
      20 Continental Dr, Wayne, NJ 07470-4711
      View Details
    • Value Estimation
      $630,000
      5.50 Acres

      59 Demarest Dr

      WAREHOUSE, STORAGE • 5.50 Acres
      59 Demarest Dr, Wayne, NJ 07470-6701
      View Details
    • Value Estimation
      $580,000
      19,303 SF

      10 Myrtle Ave

      WAREHOUSE, STORAGE • 19,303 SF
      10 Myrtle Ave, Wayne, NJ 07470-6019
      View Details
    • Value Estimation
      $30,155,000
      312,239 SF

      25 Continental Dr

      WAREHOUSE, STORAGE • 312,239 SF
      25 Continental Dr, Wayne, NJ 07470-4710
      View Details
    • Value Estimation
      $920,000
      40,452 SF

      24 Burgess Pl

      WAREHOUSE, STORAGE • 40,452 SF
      24 Burgess Pl, Wayne, NJ 07470-6734
      View Details
    • Value Estimation by Request
      69,999 SF

      125 Pompton Plains Xrd

      Distribution properties • 69,999 SF
      125 Pompton Plains Xrd, Wayne, NJ 07470
      View Details

    Similar Nearby for Sale

    • $380,000

      Commercial Land For Sale

      Commercial land available for sale.
      50 Knox Ter, Wayne, NJ 07470
      View Details
    • $499,000

      Commercial Land For Sale

      Commercial land available for sale.
      8710 Brittany Dr, Wayne, NJ 07470
      View Details
    • Contact for pricing
      5,000 SF

      Freestanding Office Building in Wayne

      Prime office building in a thriving Wayne, New Jersey location.
      204 Berdan Ave, Wayne, NJ 07470
      View Details
    • $315,000

      Land For Sale

      Commercial land available for sale.
      78 Manchester Ct, Wayne, NJ 07470
      View Details
    • $2,250,000
      6,000 SF

      Prime Wayne, NJ Restaurant Building

      Established Restaurant, High NOI, Net Lease
      344 French Hill Rd, Wayne, NJ 07470
      View Details
    • Contact for pricing
      1.50 Acres

      Prime Wayne, NJ Commercial Land

      1.5 Acres, B-Zoned Development Site
      897 Black Oak Ridge Rd, Wayne, NJ 07470
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      115,000 SF

      Warehouse, Distribution, Storage Space

      50,000 - 115,000 SF warehouse, distribution, storage space available for lease.
      55 Haul Rd, Wayne, NJ 07470
      View Details
    • Contact for pricing
      10,000 SF

      Climate Controlled Warehouse Space Available

      10,000 SF climate-controlled warehouse space for lease.
      60 Owens Dr, Wayne, NJ 07470
      View Details
    • Contact for pricing
      25,526 SF

      Industrial Warehouse Space Available

      25,526 SF warehouse with office space for lease.
      175 Anderson Ave, Moonachie, NJ 07470
      View Details
    • Contact for pricing

      Warehouse, Distribution, Storage Space Available

      50,000 - 115,000 SF warehouse, distribution, and storage space for lease.
      Wayne, NJ 07470
      View Details
    • Contact for pricing
      3,646 SF

      Wayne Retail Space For Lease

      Retail space available in Wayne, New Jersey shopping center.
      1467-1491 State Route 23, Wayne, NJ 07470
      View Details
    • Contact for pricing
      3,984 SF

      Retail Space Near University

      Retail space available in affluent area near William Paterson University.
      705 Hamburg Tpke, Wayne, NJ 07470
      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.
    60 Owens Dr
    Wayne, NJ 07470
    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.