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Property profile & analytics
OFF-MARKET
Estimated value
$880,000
Commercial real estate
120-124 Raritan Ave 124 Highland Park, NJ 08904-2454
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1488537
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1934
Construction
BRICK
Total area
2,292 SF
Lot
0.2 ac (8,778 SF)
APN
07 02201-0000-00003
UPID
US59-1488537
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
$935k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$813k
Blend (final)
Blend
$880k
Owner & transaction history
120 Raritan Group LLC · 2 yrs held
120 Raritan Group LLC
since 2023
Last sale
$845,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$650,000
+1.5%
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 Highland Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland Park 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
$970,000
ML approach
$935,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$640,000
Current use
OFFICE BUILDING
$650,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$880k
Range $792k – $968k · ±10% · vs last sale $845k (Dec 11 2023)
Last sale anchor
$845k
Dec 11 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
$384 / 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
$25,096
Tax year 2022
Assessed value
$737,500
Assessed 2023
Previous assessed
$737,500
+0.0% YoY
Effective rate
3.40%
On assessed value
Assessed land
$400,000
Assessed improvement
$337,500
Land market value
$400,000
Improvement market value
$337,500
Total market value
$737,500
Applied tax rate
7.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1934
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Total area
2,292 SF
Lot
0.2 ac (8,778 SF)
APN
07 02201-0000-00003
UPID
US59-1488537
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ 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
COMMERCIAL (GENERAL) Current
Est. value
$640,000
OFFICE BUILDING
Est. value
$650,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
1934
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
120 Raritan Group LLC
Entity
Mailing address
174 10TH RD, TENAFLY, NJ 07670-2653
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 11, 2023
$845,000
120 Raritan Group LLC
P&m Highland Park LLC
Deed
$670,000 · 120-124 Raritan Avenue Partners LLC
May 12, 2022
$275,000
Highland Raritan LLC
Highland Raritan LLC
Bargain And Sale Deed
—
Mar 10, 2014
$450,000
Highland Raritan LLC
Auman1 Realty LLC
Grant Deed
—
May 10, 2007
$590,000
Auman1realty LLC
In Between Realty Corp
Grant Deed
$480,000 · Pnc Bk/oh
Nov 15, 2006
—
In Between Realty INC
—
Trustees Deed
related
$75,000 · New Millennium Bk
—
—
Highland Raritan LLC
—
Deed Of Trust
related
$325,000 · Santander Bk NA
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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