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Property profile & analytics
OFF-MARKET
Estimated value
$1,415,000
Office buildings
1029 Broad St 1035 Bloomfield, NJ 07003-2890
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1997653
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1929
Total area
4,799 SF
Lot
0.15 ac (6,499 SF)
Zoning code
B-2
APN
02 00961-0000-00001
UPID
US59-1997653
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
-
Bro's Vape (Bike/Boat/Book/etc) Store
-
CC360 Realty | New Jersey Realltor | Cristina Munoz Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.42M
Owner & transaction history
Massola Realty LLC · 3 yrs held
Massola Realty LLC
since 2023
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
B-2 · Bloomfield, 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 Bloomfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomfield 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%
$1,305,000
6.5%
$1,205,000
7%
$1,120,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,215,000
Current use
COMMERCIAL (GENERAL)
$1,180,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$1.42M
Range $1.27M – $1.56M · ±10% · vs last sale $1.48M (Mar 20 2023)
Last sale anchor
$1.48M
Mar 20 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
$295 / 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
$27,278
Tax year 2022
Assessed value
$851,900
Assessed 2023
Previous assessed
$851,900
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$227,500
Assessed improvement
$624,400
Land market value
$227,500
Improvement market value
$624,400
Total market value
$851,900
Applied tax rate
2.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1929
Heating
NONE
Stories
4
Units
1
Total area
4,799 SF
Lot
0.15 ac (6,499 SF)
Zoning code
B-2
APN
02 00961-0000-00001
UPID
US59-1997653
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Bloomfield, NJ
Zoning B-2 · permitted uses
B-2 · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bloomfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
COMMERCIAL (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
1929
Heating
NONE
Stories
4
Units
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Massola Realty LLC
Entity
Mailing address
510 HIGHLAND AVE, MONTCLAIR, NJ 07043-1218
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 20, 2023
$1,484,500
Massola Realty LLC
Murray Hill III LLC
Deed
$500,000 · Columbia Bank
Feb 10, 2023
—
Murray Hill III LLC
Daniel Murray
Intrafamily Transfer
related
—
Sep 12, 2005
$1,100,000
Daniel Murray
Codella,lucis T
Grant Deed
—
—
—
Daniel Murray
—
Deed Of Trust
related
$175,000 · Pamrapo Savings Bank
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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