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Property profile & analytics
OFF-MARKET
Estimated value
$2,000,000
Office buildings
137 Smt Ave Summit, NJ 07901-2800
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1622373
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1979
Total area
6,600 SF
Lot
0.61 ac (26,602 SF)
Zoning code
MFT
APN
18 02608-0000-00014
UPID
US59-1622373
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
-
Summit Periodontics Dental Office
-
Summit Dentist Dental Office
-
Hilltop Dental LLC Dental Office
-
Dr. Mindy Ok Dental Office
-
Begusarai Bihar Housing Society
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.00M
CAP Approach
CAP
$1.66M
Comparable Approach
Comparable
$1.36M
Blend (final)
Blend
$2.00M
Owner & transaction history
Moknj LLC · 1 yrs held
Moknj LLC
since 2024
Last sale
$2.0M
3 recorded transactions
Zoning & alternative use
MFT · Summit, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
MFT Multifamily Tower Residential Zone. A. Purpose. The MFT Zone is intended for multifamily apartments in a range of building types. B. Permitted uses. 1. Principal uses. a. Detached single-family dwellings subject to the requirements of the R-5 Zone. b. Twin house and two-family dwellings subject to the requirements of the R-5 Zone. c. Townhouses. d. Apart…
Zone name
Multifamily Tower Residential
General category
RESIDENTIAL
Zone area
18.25 ac
Top alternative use upside
Commercial (general)
$2.5M
+88.3%
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 Summit submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Summit 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
$2,000,000
ML approach
$2,000,000
CAP Approach
CAP Return
Estimation
6%
$1,795,000
6.5%
$1,655,000
7%
$1,540,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,345,000
Current use
COMMERCIAL (GENERAL)
$2,530,000
Change: +88% · Conversion: Easy
Blend value · Realmo final
$2.00M
Range $1.80M – $2.20M · ±10% · vs last sale $2.00M (Sep 10 2024)
Last sale anchor
$2.00M
Sep 10 2024
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
$303 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$24,348
Tax year 2023
Assessed value
$562,700
Assessed 2024
Previous assessed
$562,700
+0.0% YoY
Effective rate
4.33%
On assessed value
Assessed land
$556,000
Assessed improvement
$6,700
Land market value
$556,000
Improvement market value
$6,700
Total market value
$562,700
Applied tax rate
18.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1979
Heating
NONE
Total area
6,600 SF
Lot
0.61 ac (26,602 SF)
Zoning code
MFT
APN
18 02608-0000-00014
UPID
US59-1622373
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
MFT · Summit, NJZoning MFT · permitted uses
MFT · Summit, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
MFT Multifamily Tower Residential Zone. A. Purpose. The MFT Zone is intended for multifamily apartments in a range of building types. B. Permitted uses. 1. Principal uses. a. Detached single-family dwellings subject to the requirements of the R-5 Zone. b. Twin house and two-family dwellings subject to the requirements of the R-5 Zone. c. Townhouses. d. Apartments. e. Condominiums. f. Assisted living. 2. Accessory uses. a. Uses which are customarily incidental and accessory to the principal permitted use as regulated in §§ 35-9.8 and 35-9.9 . 3. Conditional uses. a. Houses of worship. b. Educational institutions. C. Supplementary requirements. 1. All proposed work shall be in accordance with the design requirements set forth in the Development Regulations Ordinance and consistent with the Development Design Guidelines in the Appendix of this chapter, [1] which are illustrative of the design requirements. [1]
Zone name
Multifamily Tower Residential
General category
RESIDENTIAL
Zone area
18.25 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$2.5M
OFFICE BUILDING Current
COMMERCIAL (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
1979
Heating
NONE
Lot
0.61 ac
Current owner
From public records · entity-resolved
Moknj LLC
Entity
Mailing address
20 LOOKOUT RD, MOUNTAIN LAKES, NJ 07046-1150
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Sep 10, 2024
$2,000,000
Moknj LLC
Genualdi Family Partners
Deed
$1,600,000 · Td Bank NA
Aug 2, 2002
—
Genauldi Family Partners LP
Genualdi,rita E
Grant Deed
related
—
—
—
Genualdi Family Partners LP
—
Deed Of Trust
related
$975,000 · Hilltop 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.
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