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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Commercial real estate
1 Madison Ave Morristown, NJ 07960-7335
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US59-2950261
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1916
Construction
FRAME
Total area
6,266 SF
Lot
0.47 ac (20,473 SF)
Zoning code
OB
APN
24 06501-0000-00007
UPID
US59-2950261
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Whelan Scott Asset Management Financial Advisor
-
The Walters Group Real Estate Agency
-
Kieran Ayer Ph.D., LCSW, LCADC Medical Clinic
-
RE/MAX Select of NJ - Sal Petrosino Real Estate Agency
-
Michael Elms, The Elm Street Group - Weichert Realtors Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.56M
Blend (final)
Blend
$1.40M
Owner & transaction history
Whelan Scott Asset Mgmt LLC · 7 yrs held
Whelan Scott Asset Mgmt LLC
since 2019
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
OB · Morristown, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,450,000
ML approach
$1,495,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10% · vs last sale $1.25M (Jan 17 2020)
Last sale anchor
$1.25M
Jan 17 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$223 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$25,441
Tax year 2022
Assessed value
$850,000
Assessed 2023
Previous assessed
$850,000
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$770,000
Assessed improvement
$80,000
Land market value
$770,000
Improvement market value
$80,000
Total market value
$850,000
Applied tax rate
24.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1916
Construction
FRAME
Heating
NONE
Stories
3
Total area
6,266 SF
Lot
0.47 ac (20,473 SF)
Zoning code
OB
APN
24 06501-0000-00007
UPID
US59-2950261
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
OB · Morristown, NJ
Zoning OB · permitted uses
OB · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1916
Construction
FRAME
Heating
NONE
Stories
3
Lot
0.47 ac
Current owner
From public records · entity-resolved
Whelan Scott Asset Mgmt LLC
Entity
Mailing address
1 MADISON AVE, MORRISTOWN, NJ 07960-7335
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2019
$1,200,000
Whelan Scott Asset Mgmt LLC
Madison One Associates LP
Grant Deed
related
$1,000,000 · Meridian Bk
Sep 13, 2007
—
Madison One Associates
—
Trustees Deed
related
$494,576 · Union Center National Bank
—
—
Madison One Associates
—
Deed Of Trust
related
$500,000 · Union Center National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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