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Property profile & analytics
FOR SALE
Office buildings
1320 State Route 23 Wayne, NJ 07470
Entity Owned
4-yr Hold
Free & Clear
Property ID
US59-0244392
For Sale
1 / 2
$2,530,000
1320 State Route 23, Wayne, NJ 07470
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Total area
18,221 SF
Lot
2.28 ac (99,491 SF)
Zoning code
B
APN
14 01400-0000-00027
UPID
US59-0244392
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
$3.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.57M
Blend (final)
Blend
$2.53M
Owner & transaction history
1320 Route 23 LLC · 4 yrs held
1320 Route 23 LLC
since 2021
Last sale
$2.5M
3 recorded transactions
Zoning & alternative use
B · Wayne, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$3.1M
+1.1%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$3,070,000
ML approach
$3,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,110,000
Current use
INDUSTRIAL (GENERAL)
$3,145,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.53M
Range $2.28M – $2.78M · ±10% · vs last sale $2.45M (Nov 29 2021)
Last sale anchor
$2.45M
Nov 29 2021
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
$139 / 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
$73,502
Tax year 2022
Assessed value
$1,300,000
Assessed 2023
Previous assessed
$1,300,000
+0.0% YoY
Effective rate
5.65%
On assessed value
Assessed land
$719,500
Assessed improvement
$580,500
Land market value
$719,500
Improvement market value
$580,500
Total market value
$1,300,000
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1985
Heating
NONE
Total area
18,221 SF
Lot
2.28 ac (99,491 SF)
Zoning code
B
APN
14 01400-0000-00027
UPID
US59-0244392
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
B · Wayne, NJ
Zoning B · permitted uses
B · Wayne, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayne. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$3.1M
INDUSTRIAL (GENERAL)
Est. value
$3.1M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
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
1985
Heating
NONE
Lot
2.28 ac
Current owner
From public records · entity-resolved
1320 Route 23 LLC
Entity
Free & Clear · 4 yrs held
Mailing address
1320 PO BOX 851ST STE 2B, RAMSEY, NJ 07446-0851
Ownership since
2021
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
Nov 29, 2021
$2,450,000
1320 Route 23 LLC
East Group LLC
Deed
—
Feb 15, 2001
$1,500,000
East Group LLC
Jespersen,allan E & Karen L
Grant Deed
$1,300,000 · Atlantic Stewardship Bank
—
—
Thomas Mesce
—
Deed Of Trust
related
$300,000 · Greater Community 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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