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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Office buildings
118 Elmora Ave, Elizabeth, NJ 07202-1625
Entity Owned
3-yr Hold
Free & Clear
Property ID
US59-1779981
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Total area
3,079 SF
Lot
0.1 ac (4,552 SF)
APN
04 00388-0000-00007
UPID
US59-1779981
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
-
Absolute Home Mortgage Corporation Loan Service Bank
-
Herm-Barr Publishers Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$535k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$372k
Blend (final)
Blend
$540k
Owner & transaction history
1818 Elmore Ave LLC · 3 yrs held
1818 Elmore Ave LLC
since 2023
Last sale
$560,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$730,000
+24.3%
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 Elizabeth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabeth 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
$510,000
ML approach
$535,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$590,000
Current use
COMMERCIAL (GENERAL)
$730,000
Change: +24% · Conversion: Easy
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $560k (Mar 24 2023)
Last sale anchor
$560k
Mar 24 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
$175 / 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
$15,809
Tax year 2022
Assessed value
$51,700
Assessed 2023
Previous assessed
$51,700
+0.0% YoY
Effective rate
30.58%
On assessed value
Assessed land
$19,600
Assessed improvement
$32,100
Land market value
$19,600
Improvement market value
$32,100
Total market value
$51,700
Applied tax rate
4.0000
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
1950
Heating
NONE
Total area
3,079 SF
Lot
0.1 ac (4,552 SF)
APN
04 00388-0000-00007
UPID
US59-1779981
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$590,000
COMMERCIAL (GENERAL)
Est. value
$730,000
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
1950
Heating
NONE
Lot
0.1 ac
Current owner
From public records · entity-resolved
1818 Elmore Ave LLC
Entity
Free & Clear · 3 yrs held
Mailing address
145 SPRINGFIELD RD, ELIZABETH, NJ 07208-1323
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2023
$560,000
1818 Elmore Ave LLC
118 Elmora Avenue LLC
Deed
—
Feb 14, 2012
—
118 Elmora Avenue LLC
Rose,gloria
Quit Claim Deed
related
—
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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