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

    8 Eastman St Cranford, NJ 07016

    • Commercial real estate
    • 8,146 SF
    • 0.22 lot acres
    For Sale
    View listing
    $2,750,000
    Last Sale
    Apr 01, 2025
    $2,625,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-2700464
    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

    • Cake Artist Cafe / Restaurant
    • Home Power Yoga / Gym & Fitness Center
    • King Strength and Performance / Gym & Fitness Center

    Property Details for 8 Eastman St

    Year built
    1940
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.22 lot acres
    Property size
    8,146 SF
    Property type
    Commercial real estate
    APN
    03 00189-0000-00008- 02
    APU
    30018900000000802

    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
    Cranford
    County
    Union
    State
    New Jersey
    Longitude
    -74.3053
    Latitude
    40.6562
    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
    $33,141
    $126,700
    $359,100
    $485,800
    -
    $126,700
    $359,100
    $485,800

    Comparable in this City

    • Value Estimation by Request
      0.31 Acres

      76 Winans Ave

      COMMERCIAL (GENERAL) • 0.31 Acres
      76 Winans Ave, Cranford, NJ 07016
      View Details
    • Value Estimation by Request

      16 North Ave

      Retail properties
      16 North Ave, Cranford, NJ 07016
      View Details
    • Value Estimation by Request

      206-208 Centennial Ave, Unit 208

      COMMERCIAL (GENERAL)
      206-208 Centennial Ave, Cranford, NJ 07016-3279
      View Details
    • Value Estimation by Request

      16 North Ave

      Retail properties
      16 North Ave, Cranford, NJ 07016
      View Details
    • Value Estimation by Request
      1,560 SF

      358 Nn E Ave

      COMMERCIAL (GENERAL) • 1,560 SF
      358 Nn E Ave, Cranford, NJ 07016-2435
      View Details
    • Value Estimation
      $1,065,000
      4,736 SF

      500 Nn E Ave

      COMMERCIAL (GENERAL) • 4,736 SF
      500 Nn E Ave, Cranford, NJ 07016-2437
      View Details

    Similar Nearby for Sale

    • $1,350,000
      0.04 Acres

      Cranford Mixed-Use Investment Opportunity

      Historic building, prime Cranford location. High rental potential.
      North Ave, Cranford, NJ 07016
      View Details
    • $975,000

      Victorian Two-Family Home

      Two-family Victorian with off-street parking and eat-in kitchens.
      20 Berkeley Pl, Cranford, NJ 07016
      View Details
    • Contact for pricing
      11,000 SF

      Cranford Office Building For Sale

      Office building with flexible space available in Cranford, NJ.
      216 North Ave E, Cranford, NJ 07016
      View Details
    • $1,575,000
      15,750 SF

      Mixed-Use Investment Property For Sale

      99% occupied mixed-use property with storage, warehouse, office, and residential.
      331-333 Centennial Ave, Cranford, NJ 07016
      View Details
    • $2,750,000
      8,734 SF

      Downtown Cranford Strip For Sale

      Fully occupied 8,734 SF strip mall in downtown Cranford.
      8 Eastman St, Cranford, NJ 07016
      View Details
    • $3,990,000
      4,050 SF

      Bank of America Ground Lease

      Bank branch with drive-thru in affluent Cranford Township.
      101 South Ave, Cranford, NJ 07016
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      50,755 SF

      Industrial/Flex Space on North Avenue

      9,000 SF industrial/flex space for lease in Cranford, NJ.
      410-450 North Ave East, Cranford, NJ 07016
      View Details
    • $24 SF/Yr
      6,615 SF

      Cranford Office Space Available

      58,000 SF office building with glass exterior for lease.
      6 Commerce Dr, Cranford, NJ 07016
      View Details
    • Contact for pricing
      3,814 SF

      Versatile Commercial Space Available

      82,062 SF three-story building suitable for various uses.
      65 Jackson Dr, Cranford, NJ 07016
      View Details
    • Contact for pricing
      1,431 SF

      Downtown Cranford Office Space

      Office space for rent in prime downtown Cranford retail market.
      123 N Union Ave, Cranford, NJ 07016
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space in Cranford, NJ

      Retail space available at a high-traffic intersection in Cranford.
      367 Centennial Ave, Cranford, NJ 07016
      View Details
    • $26 SF/Yr
      2,668 SF

      Versatile Space in Cranford, NJ

      90,000 SF building suitable for hotel, restaurant, or office.
      11 Commerce Dr, Cranford, NJ 07016
      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.
    8 Eastman St
    Cranford, NJ 07016
    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.