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Property profile & analytics
FOR LEASE
Warehouses
1 Apollo Dr Whippany, NJ 07981
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1963081
For Lease
1 / 2
$865,000
1 Apollo Dr, Whippany, NJ 07981
View Listing →
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1960
Lot
12.67 ac (551,905 SF)
Zoning code
I
APN
12 03901-0000-00028
UPID
US59-1963081
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
-
Summit International Flooring Carpet & Flooring Store Hardware & Home Improvement
-
Dragonfly Shipping Logistics Company Freight Service
-
Herbs Supply Distribution Center Logistics Company
-
Buy Wise Auto Parts Auto Parts Store
-
Touch the Earth, Inc. Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$865k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$865k
Owner & transaction history
Icon Whippany Owner Pool 2 LLC · 11 yrs held
Icon Whippany Owner Pool 2 LLC
since 2015
5 recorded transactions
Zoning & alternative use
I · Whippany, 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 Whippany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Whippany 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
by Request
ML approach
$865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$865k
Range $779k – $952k · ±10%
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
—
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
$145,135
Tax year 2022
Assessed value
$7,206,300
Assessed 2023
Previous assessed
$7,206,300
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$3,242,500
Assessed improvement
$3,963,800
Land market value
$3,242,500
Improvement market value
$3,963,800
Total market value
$7,206,300
Applied tax rate
12.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
For Lease
Year built
1960
Heating
NONE
Lot
12.67 ac (551,905 SF)
Zoning code
I
APN
12 03901-0000-00028
UPID
US59-1963081
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I · Whippany, NJ
Zoning I · permitted uses
I · Whippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Whippany. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Lot
12.67 ac
Current owner
From public records · entity-resolved
Icon Whippany Owner Pool 2 LLC
Entity
Mailing address
15 PO BOX 33062ND ST, CHARLOTTE, NC 28233-3062
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2023
—
Commerce Park Ventures Vi LLC
—
Deed
related
$10,000,000 · Columbia Bank
Sep 15, 2017
—
Icon Whippany Owner Pool 2 LLC
—
Grant Deed
related
$385,000,000 · Miscellaneous Ins Co
Mar 16, 2015
$14,392,632
Icon Whippany Owner Pool 2 LLC
Icon Keystone Njp III Owner Po
Grant Deed
—
Jan 18, 2013
—
Keystone Njp III LLC
—
Deed Of Trust
related
$151,500,000 · New York Life Insurance
Dec 11, 2012
—
Keystone Njp III LLC
—
Deed Of Trust
related
$126,000,000 · New York Life Insurance
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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