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Property profile & analytics
OFF-MARKET
Estimated value
$2,825,000
Commercial real estate
137 Washington Ave 145 Belleville, NJ 07109-2927
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1378886
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1947
Construction
CONCRETE BLOCKS
Total area
12,080 SF
Lot
0.4 ac (17,228 SF)
APN
01 07603-0000-00012
UPID
US59-1378886
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
-
The UPS Store Courier Service Postal Service
-
TPC Appraisal Services Real Estate Agency
-
D'Anns' Daughters Designs Custom T-Shirt Store
-
Creative Investment Solutions Inc. Financial Advisor
-
The Campbell House Courier Service Postal Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.64M
CAP Approach
CAP
$2.57M
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$2.83M
Owner & transaction history
Auburn Realty LLC · 3 yrs held
Auburn Realty LLC
since 2023
Last sale
$2.6M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.4M
+19.5%
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 Belleville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleville 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
$3,645,000
ML approach
$3,635,000
CAP Approach
CAP Return
Estimation
6%
$2,780,000
6.5%
$2,565,000
7%
$2,380,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,835,000
Current use
APARTMENT HOUSE (5+ UNITS)
$3,390,000
Change: +20% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$2,730,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$2,535,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$2.83M
Range $2.54M – $3.11M · ±10% · vs last sale $2.55M (Jun 15 2023)
Last sale anchor
$2.55M
Jun 15 2023
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
$234 / 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
$41,398
Tax year 2022
Assessed value
$1,075,000
Assessed 2023
Previous assessed
$1,075,000
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$460,100
Assessed improvement
$614,900
Land market value
$460,100
Improvement market value
$614,900
Total market value
$1,075,000
Applied tax rate
1.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1947
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Total area
12,080 SF
Lot
0.4 ac (17,228 SF)
APN
01 07603-0000-00012
UPID
US59-1378886
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL) Current
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.4M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.5M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
1947
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Auburn Realty LLC
Entity
Mailing address
36 51ST BELL BLVD, BAYSIDE, NY 11361
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2023
$2,550,000
Auburn Realty LLC
137 Washington Corp
Deed
$1,550,000 · Webster Bank NA
—
—
137 Washington Corp
—
Deed Of Trust
related
$100,000 · Manufacturers & Traders Tr
—
—
137 Washington Corp
—
Deed Of Trust
related
$850,000 · Manufacturers & Traders Tr
—
—
137 Washington Corp
—
Deed Of Trust
related
$200,000 · M&t Bk
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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