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Property profile & analytics
OFF-MARKET
Estimated value
$640,000
Commercial real estate
15 Maple Ave Morristown, NJ 07960
Trust Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1370175
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
CONCRETE BLOCKS
Total area
646 SF
Lot
0.02 ac (1,063 SF)
Zoning code
ORC
APN
24 06005-0000-00018
UPID
US59-1370175
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
-
Hampshire Real Estate Co Property Management Company
-
FedEx Drop Box Postal Service Courier Service
-
Hampshire Property Management Co Inc Property Management Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$575k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$640k
Owner & transaction history
Carlson Joint Trust · 5 yrs held
Carlson Joint Trust
since 2020
Last sale
$670,000
3 recorded transactions
Zoning & alternative use
ORC · Morristown, 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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$640,000
ML approach
$575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$640k
Range $576k – $704k · ±10% · vs last sale $670k (Jan 22 2025)
Last sale anchor
$670k
Jan 22 2025
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
$991 / 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
$6,612
Tax year 2022
Assessed value
$220,900
Assessed 2023
Previous assessed
$220,900
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$158,400
Assessed improvement
$62,500
Land market value
$158,400
Improvement market value
$62,500
Total market value
$220,900
Applied tax rate
24.0000
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
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
646 SF
Lot
0.02 ac (1,063 SF)
Zoning code
ORC
APN
24 06005-0000-00018
UPID
US59-1370175
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
ORC · Morristown, NJ
Zoning ORC · permitted uses
ORC · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
0.02 ac
Current owner
From public records · entity-resolved
Carlson Joint Trust
Trust
Mailing address
1 MAPLE AVE #5, MORRISTOWN, NJ 07960-5214
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Jul 27, 2020
—
Carlson Joint Trust
Nathan W Carlson
Quit Claim Deed
related
—
Dec 12, 2017
$180,000
One & One Half Maple Ave Realt
To,no T
Grant Deed
—
—
—
Nathan W Carlson
—
Deed Of Trust
related
$551,920 · Tiaa Fsb
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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