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

    62 Hamburg Tpke Riverdale, NJ 07457-1116

    • Commercial real estate
    • 1,497 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Jun 18, 2020
    $375,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1585385
    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

    • Commercial real estate

    Property Details for 62 Hamburg Tpke

    Year built
    1929
    Construction
    FRAME
    Lot size
    0.21 lot acres
    Property size
    1,497 SF
    Zone code
    CRD
    Property type
    Commercial real estate
    APN
    33 00006-0000-00008
    APU
    3300006000000008

    Description

    This fee-simple medical office building presents a compelling investment opportunity. Located at 62 Hamburg Turnpike, Riverdale, NJ 07457, in Morris County, this 2,498 square foot property is currently 100% occupied by Veterinary Innovative Partners under a 10-year Absolute NNN lease commencing June 30, 2021, and expiring June 29, 2031. The lease includes a 5-year option with 2% annual rent bumps. The property boasts a strong 8.00% cap rate and a current NOI of $74,880, with an asking price of $935,994 ($374.70/sq ft). Built in 1929, this single-building property sits on a 0.21-acre lot. The tenant is backed by a corporate guarantee, minimizing landlord responsibilities. This investment benefits from the strong performance of the veterinary services market, projected for continued growth, and the resilience of this sector during economic downturns. The property is situated in a densely populated, affluent area within the New York-Newark-Jersey City MSA, with a population exceeding 113,000 within 5 miles and an average household income of $130,759 within 1 mile. The remaining lease term is approximately 6.6 years, offering a stable income stream with significant upside potential. This is a bite-sized investment with minimal landlord responsibilities, making it an attractive option for investors seeking a strong return in a recession-resistant sector.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverdale
    County
    Morris
    State
    New Jersey
    Longitude
    -74.3038
    Latitude
    40.9986
    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
    $6,986
    $214,300
    $175,500
    $389,800
    -
    $214,300
    $175,500
    $389,800

    Comparable in this City

    • Value Estimation
      $11,295,000
      103,650 SF

      1 Corporate Dr

      COMMERCIAL (GENERAL) • 103,650 SF
      1 Corporate Dr, Riverdale, NJ 07457-1715
      View Details
    • Value Estimation by Request
      2,071 SF

      69 Newark Pompton Tpke

      COMMERCIAL (GENERAL) • 2,071 SF
      69 Newark Pompton Tpke, Riverdale, NJ 07457-1426
      View Details
    • Value Estimation by Request
      4.73 Acres

      90 Riverdale Rd

      COMMERCIAL (GENERAL) • 4.73 Acres
      90 Riverdale Rd, Riverdale, NJ 07457-1741
      View Details
    • Value Estimation by Request
      1,558 SF

      255 Hamburg Tpke

      COMMERCIAL (GENERAL) • 1,558 SF
      255 Hamburg Tpke, Riverdale, NJ 07457-1024
      View Details
    • Value Estimation by Request
      2,092 SF

      69 Hamburg Tpke

      COMMERCIAL (GENERAL) • 2,092 SF
      69 Hamburg Tpke, Riverdale, NJ 07457-1196
      View Details
    • Value Estimation
      $1,255,000
      3,560 SF

      57 Hamburg Tpke

      COMMERCIAL (GENERAL) • 3,560 SF
      57 Hamburg Tpke, Riverdale, NJ 07457-1190
      View Details

    Similar Nearby for Sale

    • $379,700

      Riverdale Specialty Property For Sale

      Specialty property available for purchase in Riverdale, New Jersey.
      6402 Brookhaven Ct, Riverdale, NJ 07457
      View Details
    • $389,000

      Updated 1 Bedroom Condo with Den

      Bright, updated 1 bedroom condo with den and mountain views.
      7306 Coventry Ct, Riverdale, NJ 07457
      View Details
    • $460,000

      Riverdale Specialty Property For Sale

      Specialty property available for purchase in Riverdale, New Jersey.
      7409 Coventry Ct, Riverdale, NJ 07457
      View Details
    • $358,700

      Condo with Den Near Amenities

      One-bedroom condo with den, close to clubhouse and pool.
      1305 Wharton Ct, Riverdale, NJ 07457
      View Details
    • $349,800

      Riverdale Land For Sale

      Land available in Riverdale, NJ.
      81 Mountainview Ct, Riverdale, NJ 07457
      View Details
    • $728,000

      Mixed-Use Property with Office Space

      Mixed-use property featuring office space and two apartments.
      8 Mead Ave, Riverdale, NJ 07457
      View Details

    Similar Nearby for Lease

    • $4,775 /Mo

      Renovated Office/Retail Space For Rent

      Renovated office/retail space with private restrooms and highway access.
      3 S Corporate Dr, Riverdale, NJ 07457
      View Details
    • $2,200 /Mo

      Professional Office Suite For Rent

      Professional office suite with flexible rental options available now.
      82 Newark Pompton Tpke, Riverdale, NJ 07457
      View Details
    • $1,750 /Mo
      21,780 SF

      Modern Flex-Office Space in Riverdale

      Versatile 1,040 SF flex-office space with private amenities in Riverdale.
      23 Paterson Ham Bg, Riverdale, NJ 07457
      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.
    62 Hamburg Tpke
    Riverdale, NJ 07457-1116
    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.