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Property profile & analytics
OFF-MARKET
Estimated value
$570,000
Commercial real estate
140 Hanover Ave Cedar Knolls, NJ 07927-2070
Individually Owned
14-yr Hold
~
Est. High Equity
Property ID
US59-1667923
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1955
Construction
CONCRETE BLOCKS
Total area
2,561 SF
Lot
2.3 ac (100,188 SF)
Zoning code
R-10
APN
12 01602-0000-00001
UPID
US59-1667923
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
-
New Neurons Neurosurgical Institute Medical Clinic Hospital
-
Midatlantic Neonatology Associates Physician
-
Dr. Lawrence Daniels Physician
-
BioTech Innovation Center of Morris County Corporate Office
-
TMJD Physical Therapy Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$550k
Blend (final)
Blend
$570k
Owner & transaction history
Mana Biomedical Facil Research · 14 yrs held
Mana Biomedical Facil Research
since 2012
3 recorded transactions
Zoning & alternative use
R-10 · Cedar Knolls, 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 Cedar Knolls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cedar Knolls 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
by Request
ML approach
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$625,000
Current use
OFFICE BUILDING
$535,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$570k
Range $513k – $627k · ±10%
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
$223 / 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
$65,056
Tax year 2022
Assessed value
$3,200,000
Assessed 2023
Previous assessed
$3,200,000
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$650,000
Assessed improvement
$2,550,000
Land market value
$650,000
Improvement market value
$2,550,000
Total market value
$3,200,000
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Total area
2,561 SF
Lot
2.3 ac (100,188 SF)
Zoning code
R-10
APN
12 01602-0000-00001
UPID
US59-1667923
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-10 · Cedar Knolls, NJZoning R-10 · permitted uses
R-10 · Cedar Knolls, NJ
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
$625,000
OFFICE BUILDING
Est. value
$535,000
COMMERCIAL (GENERAL) Current
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
1955
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Lot
2.3 ac
Current owner
From public records · entity-resolved
Mana Biomedical Facil Research
Individual
Mailing address
140 E HANOVER AVE, CEDAR KNOLLS, NJ 07927-2070
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
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 20, 2016
—
Mana Blomedical Reseach Facili
—
Deed
related
$1,000,000 · Lakeland Bk
May 3, 2012
$2,630,000
Mana Biomedical Facil Research
Hanover Properties LLC
Grant Deed
$2,400,000 · Somerset Hills Bank
—
—
Mana Blomedical Reseach Facili
—
Deed Of Trust
related
$1,000,000 · Lakeland 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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