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Property profile & analytics
OFF-MARKET
Estimated value
$7,330,000
Commercial real estate
10 Park Ave West Orange, NJ 07052-5517
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-0498735
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1956
Construction
CONCRETE BLOCKS
Total area
41,195 SF
Lot
0.92 ac (39,901 SF)
Zoning code
I
APN
22 00062-0000-00034
UPID
US59-0498735
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
$9.40M
CAP Approach
CAP
$8.75M
Comparable Approach
Comparable
$6.50M
Blend (final)
Blend
$7.33M
Owner & transaction history
24 Park Avenue West Orange LLC · 2 yrs held
24 Park Avenue West Orange LLC
since 2023
Last sale
$6.5M
5 recorded transactions
Zoning & alternative use
I · West Orange, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$11.3M
+22.9%
Industrial (general)
$9.3M
+1.5%
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 West Orange submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs West Orange 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
$9,350,000
ML approach
$9,400,000
CAP Approach
CAP Return
Estimation
6%
$9,475,000
6.5%
$8,745,000
7%
$8,120,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$9,165,000
Current use
APARTMENT HOUSE (5+ UNITS)
$11,265,000
Change: +23% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$9,305,000
Change: +2% · Conversion: Moderate
OFFICE BUILDING
$8,645,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$7.33M
Range $6.60M – $8.06M · ±10% · vs last sale $6.54M (Sep 27 2023)
Last sale anchor
$6.54M
Sep 27 2023
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
$178 / 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
$86,895
Tax year 2022
Assessed value
$1,925,000
Assessed 2023
Previous assessed
$1,925,000
+0.0% YoY
Effective rate
4.51%
On assessed value
Assessed land
$997,500
Assessed improvement
$927,500
Land market value
$997,500
Improvement market value
$927,500
Total market value
$1,925,000
Applied tax rate
22.0000
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
1956
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Units
1
Total area
41,195 SF
Lot
0.92 ac (39,901 SF)
Zoning code
I
APN
22 00062-0000-00034
UPID
US59-0498735
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I · West Orange, NJ
Zoning I · permitted uses
I · West Orange, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
West Orange. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$9.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$11.3M
INDUSTRIAL (GENERAL)
Est. value
$9.3M
OFFICE BUILDING
Est. value
$8.6M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
1956
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Units
1
Lot
0.92 ac
Current owner
From public records · entity-resolved
24 Park Avenue West Orange LLC
Entity
Mailing address
145 N SPG ST #1, ORANGE, NJ 07050
Ownership since
2023
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
Sep 27, 2023
$6,540,000
24 Park Avenue West Orange LLC
West Orange Logistics LLC
Deed
$2,500 · West Orange Logistics LLC
Jan 8, 2018
—
West Orange Logistics LLC
—
Deed
related
$1,500,000 · Bank Of America
Jan 11, 2016
$1,925,000
West Orange Logistics LLC
Fitzroy LLC
Bargain And Sale Deed
$1,540,000 · Jpmorgan Chase Bank NA
—
—
West Orange Logistics LLC
—
Deed Of Trust
related
$1,500,000 · Bank Of America
—
—
West Orange Logistics LLC
—
Deed Of Trust
related
$1,500,000 · 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.
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