Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    15 Stern Ave Springfield, NJ 07081-2904
    Property profile & analytics

    15 Stern Ave, Springfield, NJ 07081-2904

    View on Map
    • Commercial real estate
    • 31,958 SF
    • 1.55 lot acres
    Off-Market
    Last Sale Jun 13, 2022
    $8,000,000
    Property ID
    US59-3110455
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $7,870,000
    Show details
    Cap Rate Potential
    4.4%
    Commercial real estate
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 15 Stern Ave

    Year built
    1953
    Construction
    WOOD
    Lot size
    1.55 lot acres
    Property type
    Commercial real estate
    APN
    17 03101-0000-00010
    APU
    1703101000000010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 13, 2022 $8,000,000 Bnl Nj 15 Stern Avenue LLC Allmark Land Holdings LLC Deed —
    Jun 13, 2022 — 15 Stern Avenue LLC — Deed · related $700M · Capital One Bank NA
    Jul 11, 2011 $1,982,500 Allmark Land Holdings LLC Bmt Holdings LLC Bargain And Sale Deed $1.5M · Td Bank NA
    Apr 19, 2006 $2,900,000 Bmt Holdings LLC Luminco INC Deed $2.1M · Commerce Bank N A
    — — Allmark Land Holdings LLC — Deed Of Trust · related $1.4M · Pnc Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $9,660,000
      ML approach
      $9,555,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,030,000
      6.5%
      $6,490,000
      7%
      $6,025,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,520,000
      Market price range: $4.44M - $11.4M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Union
    State
    New Jersey
    Longitude
    -74.3173
    Latitude
    40.6887
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $98,833
    $1,917,500
    $2,556,600
    $4,474,100
    -
    $1,917,500
    $2,556,600
    $4,474,100

    Comparable in this City

    • Value Estimation
      $1,120,000
      8,858 SF

      243 Morris Ave

      COMMERCIAL (GENERAL)
      243 Morris Ave, Springfield, NJ 07081-1234
      View Details
    • Value Estimation
      $2,585,000
      13,148 SF

      Morris Ave

      COMMERCIAL (GENERAL)
      Morris Ave, Springfield, NJ 07081
      View Details
    • Value Estimation by Request
      2,552 SF

      174 Mtn Ave

      COMMERCIAL (GENERAL)
      174 Mtn Ave, Springfield, NJ 07081-1705
      View Details
    • Value Estimation
      $1,625,000
      10,563 SF

      222 Mtn Ave, Unit 234

      COMMERCIAL (GENERAL)
      222 Mtn Ave, Springfield, NJ 07081-2211
      View Details
    • Value Estimation
      $3,560,000
      17,988 SF

      201 Shunpike Rd

      COMMERCIAL (GENERAL)
      201 Shunpike Rd, Springfield, NJ 07081-2159
      View Details
    • Value Estimation
      $3,240,000
      19,411 SF

      75 Us Hwy 22

      COMMERCIAL (GENERAL)
      75 Us Hwy 22, Springfield, NJ 07081-3105
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,300 SF

      New Springfield Commercial Space

      2,300 SF Standalone Building, Q1 2025 Delivery
      656 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      14,304 SF

      Springfield Office Building Auction

      Office building for sale via live bid auction.
      733 Mountain Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      Pending

      Commercial Property for Sale

      3000 sqft commercial space suitable for office or retail.
      175 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      4,000 SF

      Retail Space Available For Sale

      Retail space for sale in Springfield, NJ with 4000 SF.
      697 Morris Tpke, Springfield, NJ 07081
      View Details
    • $475,000

      Commercial Building in Business District

      Free-standing building in a commercial district, close to Morris Avenue.
      15 Center St, Springfield, NJ 07081
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,614 SF

      Professional Office Building in Springfield

      Versatile office spaces available in Springfield, New Jersey.
      99 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      7,000 SF

      Retail, Restaurant, Medical, Office Space

      Space available for retail, restaurant, medical, and office tenants.
      259-279 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      1,510 SF

      Retail Space Available For Rent

      Retail space for rent featuring vanilla box delivery.
      242 Mountain Ave, Springfield, NJ 07081
      View Details
    • $1,000 /Mo

      Renovated Office Suite For Rent

      Move-in ready office suite with utilities included and convenient location.
      26 Millburn Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing
      21,614 SF

      Professional Office Building in Springfield

      Versatile leasing opportunity in a three-story office building.
      99 Morris Ave, Springfield, NJ 07081
      View Details
    • Contact for pricing

      One Room Office For Rent

      One room office space available for rent, utilities included.
      99 Morris Ave, Springfield, NJ 07081
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    15 Stern Ave
    Springfield, NJ 07081-2904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    15 Stern Ave, Springfield, NJ, 07081
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!