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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
1073 Palisade Ave, Fort Lee, NJ 07024-6329
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-2774493
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Construction
TYPE NOT SPECIFIED
Total area
2,340 SF
Lot
0.23 ac (10,049 SF)
Zoning code
R1
APN
19 00853-0000-00005
UPID
US59-2774493
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
$375k
CAP Approach
CAP
$590k
Comparable Approach
Comparable
$770k
Blend (final)
Blend
$590k
Owner & transaction history
David Xiang · 5 yrs held
David Xiang
since 2020
7 recorded transactions
Zoning & alternative use
R1 · Fort Lee, 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 Fort Lee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Lee 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
$375,000
CAP Approach
CAP Return
Estimation
6%
$635,000
6.5%
$590,000
7%
$545,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$565,000
Current use
Blend value · Realmo final
$590k
Range $531k – $649k · ±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
$252 / 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
$17,438
Tax year 2022
Assessed value
$702,300
Assessed 2023
Previous assessed
$702,300
+0.0% YoY
Effective rate
2.48%
On assessed value
Assessed land
$504,000
Assessed improvement
$198,300
Land market value
$504,000
Improvement market value
$198,300
Total market value
$702,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Total area
2,340 SF
Lot
0.23 ac (10,049 SF)
Zoning code
R1
APN
19 00853-0000-00005
UPID
US59-2774493
Jurisdiction
BERGEN
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R1 · Fort Lee, NJ
Zoning R1 · permitted uses
R1 · Fort Lee, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Lee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$565,000
OFFICE BUILDING Current
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
1920
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Lot
0.23 ac
Current owner
From public records · entity-resolved
David Xiang
Individual
Mailing address
1073 PALISADE AVE, FORT LEE, NJ 07024-6329
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2023
—
Rtk Law Office LLC
—
Deed
related
$1,100,000 · Connectone Bank
Oct 9, 2020
—
Rtk Law Office LLC
—
Deed
related
$1,100,000 · Mona Khorozian
Sep 11, 2020
$789,000
David Xiang
W & R Home Builders LLC
Grant Deed
—
Oct 6, 2011
$650,000
Rtk Law Office LLC
Rinaldi Realty LLC
Grant Deed
—
Apr 21, 2009
—
Rinaldi Realty LLC
—
Trustees Deed
related
$25,000 · Bank Of New Jersey
Aug 25, 2008
—
Rinaldi Realty LLC
—
Deed Of Trust
related
$500,000 · First State Bank
Jan 24, 2007
$680,000
Rinaldi Realty LLC
Dorian,nubar
Grant Deed
$300,000 · Bank Of New Jersey
—
—
Rinaldi Realty INC
—
Deed Of Trust
related
$790,000 · Bank Of New Jersey
—
—
Rinaldi Realty LLC
—
Deed Of Trust
related
$399,900 · Bank Of New Jersey
—
—
Rtk Law Office LLC
—
Deed Of Trust
related
$400,000 · Fair Supreme LLC
—
—
Rtk Law Office LLC
—
Deed Of Trust
related
$1,100,000 · Mona Khorozian
—
—
Rinaldi Realty LLC
—
Deed Of Trust
related
$11,500 · Jaime M Weiss Realty Co
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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