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

    799 Bloomfield Ave Verona, NJ 07044

    • Commercial real estate
    • 61,920 SF
    • 2.51 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-0461999
    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

    • Mountainside Hospital: Chen David MD / Physician
    • Dr. Jeffrey S. Rosenberg, MD / Physician
    • Peter Woroch, MD / Physician
    • Family Practice Associates / Hospital
    • Essex Dental Arts / Dental Office

    Property Details for 799 Bloomfield Ave

    Year built
    1969
    Lot size
    2.51 lot acres
    Property size
    61,920 SF
    Zone code
    C2
    Property type
    Commercial real estate
    APN
    20 01602-0000-00008
    APU
    2001602000000008

    Description

    This exceptional Class A medical office space, totaling 3,170 square feet, is available for lease in Verona, New Jersey. Located on the first floor of a 12,857 square foot multi-tenant building in Essex County, this suite offers a private entrance and direct access to ample onsite parking. Recent capital improvements ensure modern, well-maintained spaces with "A" class finishes. The well-configured layout includes multiple offices and bathrooms, suitable for various business needs. The building features excellent infrastructure and recently updated common areas, creating a professional and convenient workspace. This is an ideal location for businesses seeking a vibrant, easily accessible environment with convenient parking for both staff and clients. The property is part of a multi-tenant building, fostering a collaborative atmosphere and networking opportunities. This first-floor suite provides a highly desirable and efficient workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $14,240,000
      6.5%
      $13,145,000
      7%
      $12,205,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $16,283,000
      Market price range: $13.8M - $28.0M
      AI Estimate
      $7,456,000
      Market price range: $5.82M - $14.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Verona
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2533
    Latitude
    40.8338
    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
    $269,370
    $2,133,500
    $6,866,500
    $9,000,000
    -
    $2,133,500
    $6,866,500
    $9,000,000

    Comparable in this City

    • Value Estimation
      $3,415,000
      17,430 SF

      342 Claremont Ave

      COMMERCIAL (GENERAL) • 17,430 SF
      342 Claremont Ave, Verona, NJ 07044-2140
      View Details
    • Value Estimation
      $1,475,000
      6,884 SF

      641 Bloomfield Ave

      COMMERCIAL (GENERAL) • 6,884 SF
      641 Bloomfield Ave, Verona, NJ 07044
      View Details
    • Value Estimation by Request
      6,098 SF

      640 Bloomfield Ave

      COMMERCIAL (GENERAL) • 6,098 SF
      640 Bloomfield Ave, Verona, NJ 07044-1804
      View Details
    • Value Estimation
      $940,000
      5,886 SF

      630 Bloomfield Ave

      COMMERCIAL (GENERAL) • 5,886 SF
      630 Bloomfield Ave, Verona, NJ 07044-1823
      View Details
    • Value Estimation by Request
      1,350 SF

      676 Bloomfield Ave

      COMMERCIAL (GENERAL) • 1,350 SF
      676 Bloomfield Ave, Verona, NJ 07044-1601
      View Details
    • Value Estimation
      $855,000
      4,470 SF

      770 Bloomfield Ave

      COMMERCIAL (GENERAL) • 4,470 SF
      770 Bloomfield Ave, Verona, NJ 07044-1302
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      20,000 SF

      Bloomfield Ave Medical Office Suite

      Sublease Opportunity: 2,250 SF Medical Office
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      View Details
    • Contact for pricing
      12,857 SF

      Verona Medical Office Space For Lease

      Class A Office, Ample Parking, 3,170 SF Available
      799 Bloomfield Ave, Verona, NJ 07044
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    • Contact for pricing
      209,331 SF

      Pilgrim Shopping Center: Verona, NJ

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    • Contact for pricing
      3,437 SF

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      Former bank and learning center spaces available for lease.
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    • $2,300 /Mo
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      Verona Twp. Commercial Space Available

      Second-floor office/retail space in Verona Twp. with parking.
      450 Bloomfield Ave, Verona, NJ 07044
      View Details
    • Contact for pricing
      20,000 SF

      Verona Medical Office Sublease Opportunity

      Medical office suite available for sublease in Verona, NJ.
      825 Bloomfield Ave, Verona, NJ 07044
      View Details
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    Verona, NJ 07044
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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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