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    694 Pompton Ave Cedar Grove, NJ 07009

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    694 Pompton Ave Cedar Grove, NJ 07009

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    • Commercial real estate
    • 0.14 lot acres
    For Sale
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    Redevelopment Opportunity in Cedar Grove For Sale
    Contact for pricing

    Redevelopment Opportunity in Cedar Grove

    Approximately 0.51-acre land for redevelopment in Cedar Grove, NJ.

    694 Pompton Avenue, Cedar Grove, NJ 7009
    View Listing
    Property ID
    US59-1313177
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 694 Pompton Ave

    Construction
    FRAME
    Lot size
    0.14 lot acres
    Property type
    Commercial real estate
    APN
    04 00170-0000-00044
    APU
    400170000000044

    Description

    This exceptional ±0.51-acre commercial land parcel presents a unique redevelopment opportunity in the thriving Cedar Grove, New Jersey market. Located at 694 Pompton Avenue, this property boasts a highly desirable corner lot position, offering excellent visibility and accessibility. The lot is identified as Block 170, Lot 44, within Essex County. Its strategic location is directly across from a bus stop serviced by NJ Transit routes 11 and 195, ensuring convenient access for employees and customers. The property's zoning is designated for commercial use, providing flexibility for a variety of development projects. The 2021 property taxes were $7,923.31. This prime location, combined with its size and zoning, makes this an ideal investment for developers seeking a high-impact project in a vibrant community. The asking price for this exceptional opportunity is $950,000. Serious inquiries are encouraged to explore the potential of this remarkable commercial land parcel. Detailed site plans and zoning information are available upon request. Don't miss this chance to acquire a significant piece of Cedar Grove's commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Grove
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2309
    Latitude
    40.857
    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
    $8,047
    $298,100
    $10,200
    $308,300
    -
    $298,100
    $10,200
    $308,300

    Comparable in this City

    • Value Estimation by Request
      0.54 Acres

      411 Pompton Ave

      COMMERCIAL (GENERAL) • 0.54 Acres
      411 Pompton Ave, Cedar Grove, NJ 07009-1800
      View Details
    • Value Estimation
      $750,000
      4.46 Acres

      599 Pompton Ave

      COMMERCIAL (GENERAL) • 4.46 Acres
      599 Pompton Ave, Cedar Grove, NJ 07009-1743
      View Details
    • Value Estimation
      $555,000
      3.98 Acres

      536 Rdg Rd

      COMMERCIAL (GENERAL) • 3.98 Acres
      536 Rdg Rd, Cedar Grove, NJ 07009-1611
      View Details
    • Value Estimation by Request
      2,409 SF

      249 Little Fls Rd

      COMMERCIAL (GENERAL) • 2,409 SF
      249 Little Fls Rd, Cedar Grove, NJ 07009-1223
      View Details
    • Value Estimation
      $4,595,000
      18,806 SF

      691 Pompton Ave

      COMMERCIAL (GENERAL) • 18,806 SF
      691 Pompton Ave, Cedar Grove, NJ 07009-1211
      View Details
    • Value Estimation
      $620,000
      0.41 Acres

      492 Pompton Ave

      COMMERCIAL (GENERAL) • 0.41 Acres
      492 Pompton Ave, Cedar Grove, NJ 07009-1805
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Redevelopment Opportunity in Cedar Grove

      Approximately 0.51-acre land for redevelopment in Cedar Grove, NJ.
      694 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $1,200,000
      Pending

      Mixed-Use Property on Pompton Avenue

      Highly visible mixed-use property with commercial and residential spaces.
      857 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $1,180,000
      5,158 SF

      Retail Property with Basement

      Retail property featuring a basement and parking.
      509 Pompton Ave, Cedar Grove, NJ 07009
      View Details

    Similar Nearby for Lease

    • $4,000 /Mo

      Barber Shop Prime Location

      Established barber shop for lease in high-traffic area.
      857 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • Contact for pricing
      174,240 SF

      Pompton Avenue Land For Lease

      Land available for lease at 54 Pompton Ave, Cedar Grove.
      54 Pompton Ave, Cedar Grove, NJ 07009
      View Details
    • $30 SF/Yr

      Architectural Retail Space Available

      Newer retail space with high ceilings and ample parking.
      450 Pompton Ave, Cedar Grove, NJ 07009
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    • $17 SF/Yr
      7,500 SF

      Peckman River Industrial Flex Space

      7,500 SF Flex Space in Cedar Grove, NJ
      220 Little Falls Rd, Cedar Grove, NJ 07009
      View Details
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    Cedar Grove, NJ 07009
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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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