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Property profile & analytics
FOR SALE
Industrial properties
1 Russo Pl Berkeley Heights, NJ 07922
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US59-0068338
For Sale
1 / 9
$2,090,000
1 Russo Pl, Berkeley Heights, NJ 07922
View Listing →
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1972
Construction
BRICK
Total area
15,312 SF
Lot
1.97 ac (85,813 SF)
Zoning code
LI
APN
01 01901-0000-00036
UPID
US59-0068338
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
-
Anco Environmental Services Inc Soil Testing Service Environmental Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.65M
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$2.09M
Owner & transaction history
One Russo Place LLC · 19 yrs held
One Russo Place LLC
since 2007
5 recorded transactions
Zoning & alternative use
LI · Berkeley Heights, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$3.1M
+17.7%
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 Berkeley Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley Heights 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,865,000
6.5%
$2,645,000
7%
$2,455,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,650,000
Current use
OFFICE BUILDING
$3,120,000
Change: +18% · Conversion: Difficult
RESTAURANT
$2,440,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.30M · ±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
$136 / 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
$41,990
Tax year 2022
Assessed value
$1,000,000
Assessed 2023
Previous assessed
$1,000,000
+0.0% YoY
Effective rate
4.20%
On assessed value
Assessed land
$394,000
Assessed improvement
$606,000
Land market value
$394,000
Improvement market value
$606,000
Total market value
$1,000,000
Applied tax rate
1.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
For Sale
Year built
1972
Construction
BRICK
Heating
NONE
Stories
1
Total area
15,312 SF
Lot
1.97 ac (85,813 SF)
Zoning code
LI
APN
01 01901-0000-00036
UPID
US59-0068338
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
LI · Berkeley Heights, NJ
Zoning LI · permitted uses
LI · Berkeley Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkeley Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.7M
OFFICE BUILDING
Est. value
$3.1M
RESTAURANT
Est. value
$2.4M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1972
Construction
BRICK
Heating
NONE
Stories
1
Lot
1.97 ac
Current owner
From public records · entity-resolved
One Russo Place LLC
Entity
Mailing address
1 RUSSO PL #1, BERKELEY HEIGHTS, NJ 07922-1606
Ownership since
2007
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
Oct 30, 2020
—
One Russo Place LLC
—
Deed
related
$2,107,500 · First Hope Bank
Apr 16, 2007
$1,800,000
One Russo Place LLC
Fawn Ridge Associates LLC
Grant Deed
$1,440,000 · Peapack Gladstone Bank
Aug 31, 1990
$582,892
Roselle Precision Products INC
Unknown
Grant Deed
—
—
—
Fawn Ridge Associates LLC
—
Deed Of Trust
related
$524,834 · First Union National Bank
—
—
One Russo Place LLC
—
Deed Of Trust
related
$1,800,000 · Bank Of America
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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