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Property profile & analytics
OFF-MARKET
Estimated value
$1,235,000
Banks
132-134 Main St 134 Madison, NJ 07940-2117
Entity Owned
11-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-1635183
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Construction
BRICK
Total area
10,400 SF
Lot
0.87 ac (37,801 SF)
Zoning code
CBD1
APN
17 01803-0000-00016
UPID
US59-1635183
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.24M
Owner & transaction history
Tiro Dev Associates LLC · 11 yrs held
Tiro Dev Associates LLC
since 2014
3 recorded transactions
Zoning & alternative use
CBD1 · Madison, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+9.6%
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
FINANCIAL BUILDING
$1,660,000
Current use
OFFICE BUILDING
$1,820,000
Change: +10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,645,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$1.24M
Range $1.11M – $1.36M · ±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
$119 / 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
$65,512
Tax year 2022
Assessed value
$3,189,500
Assessed 2023
Previous assessed
$3,189,500
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$1,233,600
Assessed improvement
$1,955,900
Land market value
$1,233,600
Improvement market value
$1,955,900
Total market value
$3,189,500
Applied tax rate
17.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Construction
BRICK
Heating
NONE
Stories
1
Total area
10,400 SF
Lot
0.87 ac (37,801 SF)
Zoning code
CBD1
APN
17 01803-0000-00016
UPID
US59-1635183
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
CBD1 · Madison, NJ
Zoning CBD1 · permitted uses
CBD1 · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
FINANCIAL BUILDING Current
OFFICE BUILDING
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
Construction
BRICK
Heating
NONE
Stories
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
Tiro Dev Associates LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1000 PORTSIDE DR, EDGEWATER, NJ 07020-1100
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 7, 2014
$3,950,000
Tiro Dev Associates LLC
Tiro Associates LLC
Grant Deed
—
Mar 21, 2014
$2,150,000
Tiro Associates LLC
Main Holding Co
Grant Deed
$2,600,000 · Richard J & Mary Jo Codey
—
—
Tiro Dev Associates LLC
—
Deed Of Trust
related
$2,800,000 · Bank Of Nj
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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