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    85 Godwin Ave Midland Park, NJ 07432
    Property profile & analytics

    85 Godwin Ave Midland Park, NJ 07432

    View on Map
    • Commercial real estate
    • 129,119 SF
    • 8.23 lot acres
    For Lease
    $26,810,000
    View Listing →
    Retail Space For Lease For Lease
    $26,810,000

    Retail Space For Lease

    Retail space available for lease in Midland Park, NJ.

    85 Godwin Ave, Midland Park, NJ 7432
    View Listing
    Property ID
    US59-2175675
    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 85 Godwin Ave

    Year built
    2000
    Lot size
    8.23 lot acres
    Property size
    129,119 SF
    Property type
    Commercial real estate
    APN
    35 00003-0000-00011
    APU
    3500003000000011

    Description

    This exceptional retail opportunity presents 129,391 square feet of prime shopping center space in the thriving Midland Park, New Jersey market. Located at 85 Godwin Ave, 07432, this multi-tenant property boasts a total of five suites, offering flexible space options ranging from a minimum of 2,450 square feet to a maximum contiguous space of 5,475 square feet. Currently, there are six available spaces totaling 13,731 square feet, presenting a unique chance for expansion or new business ventures. The property features ample parking with 504 spaces, ensuring convenient access for customers and employees. Situated in Bergen County, this location benefits from strong demographics and high foot traffic, making it an ideal investment for businesses seeking a vibrant and accessible retail environment. The property is classified as a retail shopping center and offers a multitude of possibilities for various retail concepts. This is a rare opportunity to secure a significant presence in a desirable New Jersey market. Contact us today to learn more about leasing opportunities and explore the potential of this exceptional retail property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $30,020,000
      6.5%
      $27,710,000
      7%
      $25,730,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $34,611,000
      Market price range: $25.4M - $54.0M
      AI Estimate
      $18,103,000
      Market price range: $10.00M - $29.4M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $37,800,000
      Current use
      APARTMENT HOUSE (5+ UNITS)
      $42,415,000
      Change: +12% Conversion: Moderate
      OFFICE BUILDING
      $31,190,000
      Change: -17% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Midland Park
    County
    Bergen
    State
    New Jersey
    Longitude
    -74.139
    Latitude
    40.9843
    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
    $672,803
    $10,863,600
    $9,825,300
    $20,688,900
    -
    $10,863,600
    $9,825,300
    $20,688,900

    Comparable in this City

    • Value Estimation
      $1,010,000
      5,489 SF

      215 Godwin Ave

      COMMERCIAL (GENERAL) • 5,489 SF
      215 Godwin Ave, Midland Park, NJ 07432-1807
      View Details
    • Value Estimation
      $1,050,000
      6,312 SF

      158 Godwin Ave

      COMMERCIAL (GENERAL) • 6,312 SF
      158 Godwin Ave, Midland Park, NJ 07432-1880
      View Details
    • Value Estimation by Request
      0.35 Acres

      119 Godwin Ave

      COMMERCIAL (GENERAL) • 0.35 Acres
      119 Godwin Ave, Midland Park, NJ 07432-1863
      View Details
    • Value Estimation
      $1,015,000
      5,440 SF

      90 Midland Ave

      COMMERCIAL (GENERAL) • 5,440 SF
      90 Midland Ave, Midland Park, NJ 07432-1412
      View Details
    • Value Estimation
      $780,000
      5,299 SF

      17 Central Ave

      COMMERCIAL (GENERAL) • 5,299 SF
      17 Central Ave, Midland Park, NJ 07432-1401
      View Details
    • Value Estimation by Request
      1,400 SF

      44 Cross Ave

      COMMERCIAL (GENERAL) • 1,400 SF
      44 Cross Ave, Midland Park, NJ 07432-1812
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Retail space in downtown Midland Park with high traffic volume.
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      View Details
    • Contact for pricing

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      Midland Park Commercial Property

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    Similar Nearby for Lease

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      Retail Space For Lease

      Retail space available for lease in Midland Park, NJ.
      85 Godwin Ave, Midland Park, NJ 07432
      View Details
    • $3,600 /Mo

      Midland Park Customizable Office Space

      Customizable office space in downtown Midland Park with excellent accessibility.
      44 Godwin Ave, Midland Park, NJ 07432
      View Details
    • Contact for pricing

      Midland Park Office Space Available

      1,440 sq ft office space in a good location.
      21 Van Blarcom Ave, Midland Park, NJ 07432
      View Details
    • Contact for pricing

      Midland Park Open Garage Space

      Open garage space near major routes, suitable for various uses.
      11 Birch St, Midland Park, NJ 07432
      View Details
    • $8,000 /Mo
      8,489 SF

      Spacious Industrial Building For Lease

      Two-story industrial building with loading dock, suitable for various businesses.
      189 Greenwood Ave, Midland Park, NJ 07432
      View Details
    View Listing
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    Midland Park, NJ 07432
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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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