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Property profile & analytics
OFF-MARKET
Estimated value
$4,030,000
Industrial properties
1 Wiley Dr Somerset, NJ 08873-1222
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-3199494
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
BRICK
Total area
2,450 SF
Lot
26.84 ac (1,169,020 SF)
Zoning code
M1
APN
08 00523- 03-00035- 09
UPID
US59-3199494
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.12M
Blend (final)
Blend
$4.03M
Owner & transaction history
Breit Industrial Canyon Nj1w02 LLC · 4 yrs held
Breit Industrial Canyon Nj1w02 LLC
since 2022
7 recorded transactions
Zoning & alternative use
M1 · Somerset, 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 Somerset submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerset 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%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.03M
Range $3.63M – $4.43M · ±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
$1,645 / 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
$319,966
Tax year 2022
Assessed value
$22,000,000
Assessed 2023
Previous assessed
$15,700,000
+40.1% YoY
Effective rate
1.45%
On assessed value
Assessed land
$21,000,000
Assessed improvement
$1,000,000
Land market value
$21,000,000
Improvement market value
$1,000,000
Total market value
$22,000,000
Applied tax rate
8.0000
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
Off-Market
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Total area
2,450 SF
Lot
26.84 ac (1,169,020 SF)
Zoning code
M1
APN
08 00523- 03-00035- 09
UPID
US59-3199494
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
M1 · Somerset, NJ
Zoning M1 · permitted uses
M1 · Somerset, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Somerset. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Lot
26.84 ac
Current owner
From public records · entity-resolved
Breit Industrial Canyon Nj1w02 LLC
Entity
Mailing address
PO BOX A3879, CHICAGO, IL 60690-3879
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2024
—
Breit Industrial Canyon Nj1w02 LLC
—
Deed
related
$138,000,000 · Jpmorgan Chase Bank NA
Feb 23, 2022
—
Breit Industrial Canyon Nj1w02 LLC
Breit Industrial Canyon Nj1w02 LLC
Intrafamily Transfer
related
—
Mar 16, 2018
—
Breit Indl Cyn Nj1w02 LLC
—
Grant Deed
related
$1,100,000,000 · Miscellaneous Ins Co
Jan 21, 2015
$14,650,000
Cabot IV-nj1w02 LLC
One Wiley Drive LLC
Grant Deed
—
Aug 5, 2008
—
One Wiley Drive LLC
One Wiley Drive LLC
Quit Claim Deed
related
—
Apr 25, 2007
—
One Wiley Drive LLC
John Wiley & Sons INC
Grant Deed
related
—
May 24, 2006
$10,500,000
One Wiley Drive LLC
Jp Morgan Chase Bank NA
Grant Deed
—
—
—
Hampshire Partners LLC
—
Deed Of Trust
related
$185,000 · Hsh Nordbank Ag New York Branc
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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