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Property profile & analytics
OFF-MARKET
Estimated value
$7,680,000
Industrial properties
1224 State Rt 23 Butler, NJ 07405-2035
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1666975
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1962
Total area
3,876 SF
Lot
0.71 ac (31,124 SF)
Zoning code
HC
APN
03 00076- 08-00125- 02
UPID
US59-1666975
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
$8.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.68M
Owner & transaction history
Ganapathy Butler Realty LLC · 3 yrs held
Ganapathy Butler Realty LLC
since 2022
Last sale
$7.0M
6 recorded transactions
Zoning & alternative use
HC · Butler, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
e Improvement Standards (RSIS) [2] At least 1/2 space per unit shall be located in common park ing areas. GFA = Gross Floor Area Borough of Butler Schedule C Schedule of Permitted Uses R-1 Through R-4 R-5 R-6 R-7 R-8 SC HC CBD LI LI/ CBD Principal Use On-family dwellings X X X 1 X 2 Two-family dwellings X Apartments X 1 X 3 X Townhouse X 4 X 5A Townhouse and…
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
149.84 ac
Source
Butler, NJ
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 Butler submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Butler 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
$8,465,000
ML approach
$8,260,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.68M
Range $6.91M – $8.45M · ±10% · vs last sale $7.00M (Aug 24 2022)
Last sale anchor
$7.00M
Aug 24 2022
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
$1,981 / 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
$38,514
Tax year 2022
Assessed value
$1,553,200
Assessed 2023
Previous assessed
$1,391,900
+11.6% YoY
Effective rate
2.48%
On assessed value
Assessed land
$786,500
Assessed improvement
$766,700
Land market value
$786,500
Improvement market value
$766,700
Total market value
$1,553,200
Applied tax rate
3.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1962
Heating
NONE
Stories
1
Units
1
Total area
3,876 SF
Lot
0.71 ac (31,124 SF)
Zoning code
HC
APN
03 00076- 08-00125- 02
UPID
US59-1666975
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HC · Butler, NJZoning HC · permitted uses
HC · Butler, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
e Improvement Standards (RSIS) [2] At least 1/2 space per unit shall be located in common park ing areas. GFA = Gross Floor Area Borough of Butler Schedule C Schedule of Permitted Uses R-1 Through R-4 R-5 R-6 R-7 R-8 SC HC CBD LI LI/ CBD Principal Use On-family dwellings X X X 1 X 2 Two-family dwellings X Apartments X 1 X 3 X Townhouse X 4 X 5A Townhouse and Apartments X 5A Senior Citizen Housing X Public Purpose Uses X X X X X X X X X X
Zone name
Highway Commercial
General category
COMMERCIAL
Zone area
149.84 ac
Source
Butler, NJ
Building & site characteristics
From public records
Year built
1962
Heating
NONE
Stories
1
Units
1
Lot
0.71 ac
Current owner
From public records · entity-resolved
Ganapathy Butler Realty LLC
Entity
Mailing address
16625 POWELLS CV BLVD, WHITESTONE, NY 11357-1545
Ownership since
2022
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
Aug 24, 2022
$7,000,000
Ganapathy Butler Realty LLC
1224 RT 23 Holdings LLC
Bargain And Sale Deed
$3,850,000 · Td Bank NA
Aug 25, 2021
—
1224 RT 23 Holdings LLC
—
Deed
related
$3,600,000 · Republic First Bank
Jan 5, 2021
$2,800,000
1224 23 Holdings LLC
Sar & Co LLC
Grant Deed
—
Apr 18, 2017
—
Sar & Company LLC
—
Deed
related
$750,000 · Valley National Bank
Dec 29, 2016
—
Sar & Company LLC
—
Deed
related
$250,000 · Valley National Bank
—
—
Sar & Co LLC
—
Deed Of Trust
related
$240,000 · Valley National 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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