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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Commercial real estate
138 Elmer St Westfield, NJ 07090-2126
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1030705
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1910
Construction
FRAME
Total area
1,754 SF
Lot
0.1 ac (4,408 SF)
APN
20 03107-0000-00008
UPID
US59-1030705
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
$550k
CAP Approach
CAP
$355k
Comparable Approach
Comparable
$674k
Blend (final)
Blend
$560k
Owner & transaction history
138 Elmer LLC · 3 yrs held
138 Elmer LLC
since 2023
Last sale
$575,000
4 recorded transactions
Zoning & alternative use
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 Westfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westfield 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
$535,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
$385,000
6.5%
$355,000
7%
$330,000
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $575k (Jul 25 2023)
Last sale anchor
$575k
Jul 25 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
$319 / 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
$12,418
Tax year 2022
Assessed value
$549,000
Assessed 2023
Previous assessed
$549,000
+0.0% YoY
Effective rate
2.26%
On assessed value
Assessed land
$390,400
Assessed improvement
$158,600
Land market value
$390,400
Improvement market value
$158,600
Total market value
$549,000
Applied tax rate
20.0000
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
1910
Construction
FRAME
Heating
NONE
Stories
2
Total area
1,754 SF
Lot
0.1 ac (4,408 SF)
APN
20 03107-0000-00008
UPID
US59-1030705
Jurisdiction
UNION
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
Building & site characteristics
From public records
Year built
1910
Construction
FRAME
Heating
NONE
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
138 Elmer LLC
Entity
Mailing address
138 ELMER ST, WESTFIELD, NJ 07090-2126
Mailing matches property
Yes
Owner-occupied
Yes
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
Jul 25, 2023
$575,000
138 Elmer LLC
Shelby E Neiss
Deed
$470,000 · Pnc Bank NA
Jul 7, 2023
—
Stuart D Neiss
Neiss Neiss
Intrafamily Transfer
related
—
Apr 5, 2023
—
Stuart D Neiss
Stuart D Neiss
Intrafamily Transfer
related
—
Nov 15, 1989
$305,000
Stuart D Neiss
Unknown
Grant Deed
—
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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