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Property profile & analytics
FOR SALE
Office Spaces
1395 State Rt 23, Butler, NJ 07405-1732
Entity Owned
Absentee Owner
Free & Clear
Property ID
US59-1011013
No photos on file
For Sale
$262,500
1395 State Rt 23, Butler, NJ 07405-1732
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Lot
0.13 ac (5,445 SF)
Zoning code
HC
APN
03 00093- 01-00004- 03-C0001
UPID
US59-1011013
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
by Request
Owner & transaction history
2035b Hamburg Turnpike LLC
2035b Hamburg Turnpike LLC
since 2026
3 recorded transactions
Zoning & alternative use
HC · Butler, NJ
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 Butler submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Butler 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$6,995
Tax year 2022
Assessed value
$295,000
Assessed 2023
Previous assessed
$252,800
+16.7% YoY
Effective rate
2.37%
On assessed value
Assessed land
$56,900
Assessed improvement
$238,100
Land market value
$56,900
Improvement market value
$238,100
Total market value
$295,000
Applied tax rate
3.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Heating
NONE
Lot
0.13 ac (5,445 SF)
Zoning code
HC
APN
03 00093- 01-00004- 03-C0001
UPID
US59-1011013
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HC · Butler, NJ
Zoning HC · permitted uses
HC · Butler, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Butler. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
0.13 ac
Current owner
From public records · entity-resolved
2035b Hamburg Turnpike LLC
Entity
Free & Clear · 0 yrs held
Mailing address
386 SKI TRL, KINNELON, NJ 07405-2248
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
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
Apr 2, 2026
$248,000
2035b Hamburg Turnpike LLC
Parikh
Bargain & Sale Deed
—
Oct 20, 2022
$300,000
Briarwood Properties II LLC
Jamie Kreitman
Deed
$255,000 · Bank Of America NA
Jul 26, 2022
$320,000
Preferred Construction Mgt Co INC
Cynthia Pych Cummings
Bargain & Sale Deed
$240,000 · Lakeland 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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