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Property profile & analytics
OFF-MARKET
Estimated value
$2,560,000
Office buildings
1502 Alps Rd Wayne, NJ 07470
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-1359567
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
6,480 SF
Lot
1 ac (43,560 SF)
APN
14 02711-0000-00083
UPID
US59-1359567
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.63M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.56M
Owner & transaction history
Fem Alps Road LLC · 5 yrs held
Fem Alps Road LLC
since 2021
Last sale
$3.0M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+92.7%
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,765,000
6.5%
$1,625,000
7%
$1,510,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,130,000
Change: +93% · Conversion: Easy
Blend value · Realmo final
$2.56M
Range $2.30M – $2.82M · ±10% · vs last sale $3.01M (Jul 2 2021)
Last sale anchor
$3.01M
Jul 2 2021
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
$395 / 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
$36,186
Tax year 2022
Assessed value
$640,000
Assessed 2023
Previous assessed
$640,000
+0.0% YoY
Effective rate
5.65%
On assessed value
Assessed land
$240,000
Assessed improvement
$400,000
Land market value
$240,000
Improvement market value
$400,000
Total market value
$640,000
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
NONE
Total area
6,480 SF
Lot
1 ac (43,560 SF)
APN
14 02711-0000-00083
UPID
US59-1359567
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ 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)
Est. value
$2.1M
COMMERCIAL (GENERAL)
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
Heating
NONE
Lot
1 ac
Current owner
From public records · entity-resolved
Fem Alps Road LLC
Entity
Mailing address
2 CHANGEBRIDGE RD, MONTVILLE, NJ 07045-8947
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2021
$3,013,836
Fem Alps Road LLC
1500 Alps Wayne LLC
Deed
$1,855,000 · Vast Bank NA
May 20, 2020
$1,400,000
1500 Alps Wayne LLC
1500 Alps Road LLC
Bargain And Sale Deed
$1,300,000 · Vast Bank NA
Jan 15, 2009
$1,600,000
1500 Alps Road LLC
Alpart / Ventimiglia
Grant Deed
$1,225,000 · Valley National Bank
—
—
Alpart/ventimiglia
—
Deed Of Trust
related
$150,000 · Anna Alpart
—
—
Ventimiglia Alpert
—
Deed Of Trust
related
$300,000 · Wachovia Bank NA
—
—
Alpart/ventimiglia
—
Deed Of Trust
related
$100,000 · Ellen Alpart
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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