Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,440,000
Commercial real estate
123 Highland Ave Glen Ridge, NJ 07028-1527
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US59-0116079
Property summary
AI-generated overview
This exceptional four-story medical office building, located at 123 Highland Avenue in Glen Ridge, New Jersey, offers a variety of suite sizes perfect for medical professionals. The building totals 22,140 square feet and features convenient elevator access. Currently, there is 5,768 square feet of vacant space available, with suites ranging from a minimum of 1,442 square feet to a maximum contiguous space of 2,395 square feet. The building's prime location in Essex County, with easy access to major transportation routes, makes it an ideal location for a thriving medical practice. The multiple tenancy structure provides a diverse and collaborative environment. The building's modern design and amenities cater to the needs of today's medical professionals, ensuring a comfortable and efficient workspace. This is a rare opportunity to secure high-quality medical office space in a desirable location. The available suites are ready for immediate occupancy, allowing for a quick and seamless transition for your practice. Contact us today to schedule a viewing and explore the possibilities. The zip code is 07028.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Total area
22,140 SF
Lot
1.14 ac (49,645 SF)
Zoning code
B
APN
08 00096-0000-00020
UPID
US59-0116079
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
-
Niveen Bebawy Physician
-
Dr. Marius Calin M.D. F.A.C.S. F.A.S.M.B.S. Physician
-
Commercial & House Cleaning Glen Ridge Commercial Cleaning Service
-
Dr. Marius Calin M.D. F.A.C.S. Physician
-
Lung Diagnostics Inc Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.70M
Comparable Approach
Comparable
$5.48M
Blend (final)
Blend
$5.44M
Owner & transaction history
Ko & Ko Investments LLC · 18 yrs held
Ko & Ko Investments LLC
since 2007
1 recorded transaction
Zoning & alternative use
B · Glen Ridge, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zone is to promote professional and office, nursing homes, public and private schools, municipal buildings and libraries.
Zone name
Office Professional Buildings Nursing Homes Libraries Public And Private Schools And Municipal Buildings
General category
CIVIC_INSTITUTIONAL
Zone area
16.04 ac
Source
Realmo
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 Glen Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glen Ridge 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
by Request
CAP Approach
CAP Return
Estimation
6%
$5,090,000
6.5%
$4,700,000
7%
$4,365,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,530,000
Current use
APARTMENT HOUSE (5+ UNITS)
$6,055,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$5.44M
Range $4.90M – $5.98M · ±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
$246 / 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
$192,252
Tax year 2022
Assessed value
$5,838,200
Assessed 2023
Previous assessed
$5,838,200
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$1,986,300
Assessed improvement
$3,851,900
Land market value
$1,986,300
Improvement market value
$3,851,900
Total market value
$5,838,200
Applied tax rate
8.0000
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
1980
Heating
NONE
Units
1
Total area
22,140 SF
Lot
1.14 ac (49,645 SF)
Zoning code
B
APN
08 00096-0000-00020
UPID
US59-0116079
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B · Glen Ridge, NJZoning B · permitted uses
B · Glen Ridge, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zone is to promote professional and office, nursing homes, public and private schools, municipal buildings and libraries.
Zone name
Office Professional Buildings Nursing Homes Libraries Public And Private Schools And Municipal Buildings
General category
CIVIC_INSTITUTIONAL
Zone area
16.04 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.1M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1980
Heating
NONE
Units
1
Lot
1.14 ac
Current owner
From public records · entity-resolved
Ko & Ko Investments LLC
Entity
Mailing address
PO BOX 38, DENVILLE, NJ 07834-0038
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2007
—
Ko & Ko Investments LLC
Ko,stephen S
Quit Claim Deed
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 123 Highland Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
