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Property profile & analytics
OFF-MARKET
Estimated value
$5,900,000
Turn key restaurants
111 Prospect Ave West Orange, NJ 07052-4202
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1282782
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1900
Total area
4,006 SF
Lot
8.29 ac (361,112 SF)
Zoning code
B-2
APN
22 00151-0000-00017- 01
UPID
US59-1282782
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
$5.90M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.90M
Owner & transaction history
Orange Prospect LLC · 2 yrs held
Orange Prospect LLC
since 2024
Last sale
$5.9M
2 recorded transactions
Zoning & alternative use
B-2 · West Orange, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
Block 155, Lot 40.04: rezone from P-C to B-2. District boundary lines follow the center lines of streets and similar rights-of-way, or lot lines, unless a specified dimension on the Zoning Map indicates otherwise. In case of uncertainty as to the true location of a district boundary line, the determination shall be made by the Zoning Officer. An appeal may a…
Zone name
General Business
General category
COMMERCIAL
Zone area
129.62 ac
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
$5,900,000
ML approach
$5,900,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.90M
Range $5.31M – $6.49M · ±10% · vs last sale $5.90M (Aug 5 2024)
Last sale anchor
$5.90M
Aug 5 2024
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
$1,473 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$516,355
Tax year 2023
Assessed value
$11,230,000
Assessed 2024
Previous assessed
$11,230,000
+0.0% YoY
Effective rate
4.60%
On assessed value
Assessed land
$2,901,500
Assessed improvement
$8,328,500
Land market value
$2,901,500
Improvement market value
$8,328,500
Total market value
$11,230,000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1900
Heating
NONE
Units
1
Total area
4,006 SF
Lot
8.29 ac (361,112 SF)
Zoning code
B-2
APN
22 00151-0000-00017- 01
UPID
US59-1282782
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · West Orange, NJZoning B-2 · permitted uses
B-2 · West Orange, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
Block 155, Lot 40.04: rezone from P-C to B-2. District boundary lines follow the center lines of streets and similar rights-of-way, or lot lines, unless a specified dimension on the Zoning Map indicates otherwise. In case of uncertainty as to the true location of a district boundary line, the determination shall be made by the Zoning Officer. An appeal may also be taken to the Zoning Board as provided in N.J.S.A. 40:55D-70. Any use not specifically permitted in a zoning district established by this chapter is hereby expressly prohibited from that district.
Zone name
General Business
General category
COMMERCIAL
Zone area
129.62 ac
Building & site characteristics
From public records
Year built
1900
Heating
NONE
Units
1
Lot
8.29 ac
Current owner
From public records · entity-resolved
Orange Prospect LLC
Entity
Mailing address
111 PROSPECT AVE, WEST ORANGE, NJ 07052-4202
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 5, 2024
$5,900,000
Orange Prospect LLC
Bow And Arrow Manor INC
Deed
$3,400,000 · Bow And Arrow Manor INC
Oct 16, 2019
—
Bow & Arrowmanor INC
—
Grant Deed
related
$1,410,000 · Devon Road Associates LLC
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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