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Property profile & analytics
OFF-MARKET
Estimated value
$3,870,000
Industrial properties
145 Algonquin Pkwy Whippany, NJ 07981-1645
Entity Owned
~
Est. High Equity
Property ID
US59-3063301
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1972
Construction
CONCRETE BLOCKS
Total area
23,588 SF
Lot
1.93 ac (84,071 SF)
Zoning code
I
APN
12 06903-0000-00004
UPID
US59-3063301
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
-
Power Dynamics Inc Factory Production Facility
-
Go for the Gold Gymnastics Academy Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.32M
CAP Approach
CAP
$4.08M
Comparable Approach
Comparable
$3.15M
Blend (final)
Blend
$3.87M
Owner & transaction history
Frg X Co Nj2 LP
Frg X Co Nj2 LP
since 2025
Last sale
$3.6M
2 recorded transactions
Zoning & alternative use
I · Whippany, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.7M
+36.1%
Office building
$4.9M
+17.2%
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 Whippany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Whippany 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
$4,405,000
ML approach
$4,315,000
CAP Approach
CAP Return
Estimation
6%
$4,415,000
6.5%
$4,075,000
7%
$3,780,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$4,215,000
Current use
COMMERCIAL (GENERAL)
$5,740,000
Change: +36% · Conversion: Difficult
OFFICE BUILDING
$4,940,000
Change: +17% · Conversion: Difficult
Blend value · Realmo final
$3.87M
Range $3.48M – $4.26M · ±10% · vs last sale $3.64M (Jan 26 2022)
Last sale anchor
$3.64M
Jan 26 2022
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
$164 / 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
$33,795
Tax year 2022
Assessed value
$1,678,000
Assessed 2023
Previous assessed
$1,678,000
+0.0% YoY
Effective rate
2.01%
On assessed value
Assessed land
$529,600
Assessed improvement
$1,148,400
Land market value
$529,600
Improvement market value
$1,148,400
Total market value
$1,678,000
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 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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1972
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
23,588 SF
Lot
1.93 ac (84,071 SF)
Zoning code
I
APN
12 06903-0000-00004
UPID
US59-3063301
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I · Whippany, NJ
Zoning I · permitted uses
I · Whippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Whippany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$5.7M
OFFICE BUILDING
Est. value
$4.9M
INDUSTRIAL (GENERAL) Current
COMMERCIAL (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
1972
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
1.93 ac
Current owner
From public records · entity-resolved
Frg X Co Nj2 LP
Entity
Mailing address
5 MARINE VW PLZ FL, HOBOKEN, NJ 07030-5756
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2025
—
Frg X Co Nj2 LP
Frg X Nj2 LP
Deed
related
$273,000,000 · Capital One NA
Jan 26, 2022
$3,643,000
Frg X Nj2 LP
145 Algonquin Associates LLC
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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