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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Commercial real estate
1428 Springfield Ave Irvington, NJ 07111-1358
Individually Owned
1-yr Hold
Free & Clear
Property ID
US59-0763199
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
TYPE NOT SPECIFIED
Total area
3,300 SF
Lot
0.03 ac (1,124 SF)
APN
09 00371-0000-00032
UPID
US59-0763199
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
-
S & M Caribbean Cuisine Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
$700k
Comparable Approach
Comparable
$348k
Blend (final)
Blend
$525k
Owner & transaction history
Carlos A Narvaez Espinoza · 1 yrs held
Carlos A Narvaez Espinoza
since 2024
Last sale
$525,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$695,000
+43.8%
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 Irvington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Irvington 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
$525,000
ML approach
$525,000
CAP Approach
CAP Return
Estimation
6%
$760,000
6.5%
$700,000
7%
$650,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$480,000
Current use
OFFICE BUILDING
$695,000
Change: +44% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±10% · vs last sale $525k (Sep 30 2024)
Last sale anchor
$525k
Sep 30 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
$159 / 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
$10,876
Tax year 2023
Assessed value
$172,200
Assessed 2024
Previous assessed
$172,200
+0.0% YoY
Effective rate
6.32%
On assessed value
Assessed land
$50,600
Assessed improvement
$121,600
Land market value
$50,600
Improvement market value
$121,600
Total market value
$172,200
Applied tax rate
9.0000
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
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
1
Total area
3,300 SF
Lot
0.03 ac (1,124 SF)
APN
09 00371-0000-00032
UPID
US59-0763199
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
$480,000
OFFICE BUILDING
Est. value
$695,000
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
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
1
Units
1
Lot
0.03 ac
Current owner
From public records · entity-resolved
Carlos A Narvaez Espinoza
Individual
Free & Clear · 1 yrs held
Mailing address
1428 SPRINGFIELD AVE, IRVINGTON, NJ 07111-1358
Mailing matches property
Yes
Owner-occupied
Yes
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 30, 2024
$525,000
Carlos A Narvaez Espinoza
Joan E Ozak
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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