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Property profile & analytics
OFF-MARKET
Estimated value
$26,480,000
Commercial real estate
131 Morristown Rd Basking Ridge, NJ 07920-1654
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-0408265
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1984
Total area
211,662 SF
Lot
33.83 ac (1,473,635 SF)
Zoning code
E5
APN
02 00801-0000-00002
UPID
US59-0408265
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
-
Maria Mejia Physician
-
DEVCO CORPORATION Industrial Manufacturer Factory
-
Mariana Peralta Counselor
-
Optum (Bike/Boat/Book/etc) Store Corporate Office
-
Dr. Eric Huang Pediatrician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$34.05M
Blend (final)
Blend
$26.48M
Owner & transaction history
131 Morristown Rd LLC · 3 yrs held
131 Morristown Rd LLC
since 2023
1 recorded transaction
Zoning & alternative use
E5 · Basking Ridge, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Basking Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Basking 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$43,650,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$26.48M
Range $23.83M – $29.13M · ±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
$125 / 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
$488,874
Tax year 2022
Assessed value
$19,977,900
Assessed 2023
Previous assessed
$24,310,000
-17.8% YoY
Effective rate
2.45%
On assessed value
Assessed land
$7,581,600
Assessed improvement
$12,396,300
Land market value
$7,581,600
Improvement market value
$12,396,300
Total market value
$19,977,900
Applied tax rate
2.0000
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
1984
Heating
NONE
Units
1
Total area
211,662 SF
Lot
33.83 ac (1,473,635 SF)
Zoning code
E5
APN
02 00801-0000-00002
UPID
US59-0408265
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
E5 · Basking Ridge, NJZoning E5 · permitted uses
E5 · Basking Ridge, NJ
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
Est. value
$43.7M
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
1984
Heating
NONE
Units
1
Lot
33.83 ac
Current owner
From public records · entity-resolved
131 Morristown Rd LLC
Entity
Mailing address
123 SS AVE E, WESTFIELD, NJ 07090-1577
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2023
$9,432,562
131 Morristown Rd LLC
131 Morristown Road Investors LLC
Bargain And Sale Deed
related
$5,200,000 · Tristate Capital 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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