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Property profile & analytics
OFF-MARKET
Estimated value
$21,765,000
Residential income homes
10 Ridgewood Rd South Orange, NJ 07079-1555
Entity Owned
4-yr Hold
Property ID
US59-3076379
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1938
Construction
BRICK
Total area
69,090 SF
Lot
0.78 ac (33,759 SF)
Zoning code
R-C1
APN
19 01904-0000-00001
UPID
US59-3076379
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
-
Flip Peters Musician and Entertainer Theater & Performing Art Venue Nightclub
-
SPARK Solutions for Growth Consultant
-
Ridgewood Commons Apartment Building
-
Targeted Solutions Inc Advertising Agency Marketing & Advertising
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.79M
Comparable Approach
Comparable
$24.08M
Blend (final)
Blend
$21.77M
Owner & transaction history
Southwoods 10 LLC · 4 yrs held
Southwoods 10 LLC
since 2022
Last sale
$27.0M
6 recorded transactions
Zoning & alternative use
R-C1 · South Orange, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$25.2M
+33.5%
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 South Orange submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$19,270,000
6.5%
$17,790,000
7%
$16,520,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$18,890,000
Current use
COMMERCIAL (GENERAL)
$25,220,000
Change: +33% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$15,605,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$21.77M
Range $19.59M – $23.94M · ±10% · vs last sale $27.00M (Jul 14 2022)
Last sale anchor
$27.00M
Jul 14 2022
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
$315 / 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
$295,191
Tax year 2022
Assessed value
$8,417,200
Assessed 2023
Previous assessed
$8,417,200
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$222,800
Assessed improvement
$8,194,400
Land market value
$222,800
Improvement market value
$8,194,400
Total market value
$8,417,200
Applied tax rate
19.0000
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
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1938
Construction
BRICK
Heating
NONE
Stories
5
Units
1
Total area
69,090 SF
Lot
0.78 ac (33,759 SF)
Zoning code
R-C1
APN
19 01904-0000-00001
UPID
US59-3076379
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-C1 · South Orange, NJ
Zoning R-C1 · permitted uses
R-C1 · South Orange, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Orange. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$18.9M
COMMERCIAL (GENERAL)
Est. value
$25.2M
INDUSTRIAL (GENERAL)
Est. value
$15.6M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1938
Construction
BRICK
Heating
NONE
Stories
5
Units
1
Lot
0.78 ac
Current owner
From public records · entity-resolved
Southwoods 10 LLC
Entity
Mailing address
62 CANFIELD RD, MORRISTOWN, NJ 07960-6933
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
$27,000,000
Southwoods 10 LLC
10 North Ridgewood Road LLC
Deed
$1,500,000 · 10 North Ridgewood Road LLC
Jun 25, 2012
—
10 North Ridgewood Road Limited Lia
The Ridgewood Commons Group LLC
Deed
$10,400,000 · Berkadia Commercial Mortgage LLC
May 8, 2008
—
Ridgewood Commons Group LLC
North Ridgewood Associates LLC
Quit Claim Deed
related
—
Jun 5, 2007
$12,065,000
The Ridgewood Commons Group LLC
North Ridgewood Associates LLC
Deed
—
—
—
Berkadia Commercial Mtg LLC
—
Deed Of Trust
related
$1,000,000 · Federal Hm Ln Mtg
—
—
10 North Ridgewood Road LLC
—
Deed Of Trust
related
$1,000,000 · Berkadia Com'l Mtg
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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