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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Office buildings
151 Madison Ave Morristown, NJ 07960-6016
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-0919070
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Lot
2.33 ac (101,495 SF)
Zoning code
R-2
APN
24 01402-0000-00004
UPID
US59-0919070
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
-
CareOne at Madison Avenue Nursing Home
-
Tiffany DeLucia, REMAX SELECT Real Estate Agency
-
CareOne Rehabilitation Center
-
Alexander Malaret, RE/MAX SELECT- Morristown Real Estate Agency
-
Hector Rojas, Team Leader The NJ Team at RE/MAX ACHIEVERS Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$670k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$670k
Owner & transaction history
151 Madison Ave Invtrs LLC · 6 yrs held
151 Madison Ave Invtrs LLC
since 2019
4 recorded transactions
Zoning & alternative use
R-2 · 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
by Request
ML approach
$670,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$670k
Range $603k – $737k · ±10%
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
—
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
$254,405
Tax year 2022
Assessed value
$8,500,000
Assessed 2023
Previous assessed
$8,500,000
+0.0% YoY
Effective rate
2.99%
On assessed value
Assessed land
$1,800,000
Assessed improvement
$6,700,000
Land market value
$1,800,000
Improvement market value
$6,700,000
Total market value
$8,500,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
NONE
Lot
2.33 ac (101,495 SF)
Zoning code
R-2
APN
24 01402-0000-00004
UPID
US59-0919070
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-2 · Morristown, NJ
Zoning R-2 · permitted uses
R-2 · 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
Heating
NONE
Lot
2.33 ac
Current owner
From public records · entity-resolved
151 Madison Ave Invtrs LLC
Entity
Mailing address
610 VAN BEUREN RD N, MORRISTOWN, NJ 07960-6464
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2019
—
151 Madison Ave Invtrs LLC
151 Madison Avenue Corp
Correction Deed
—
—
—
Care One At Madison Avenue LLC
—
Deed Of Trust
related
$20,000,000 · Peapack Gladstone Bk
—
—
Care One At Madison Avenue LLC
—
Deed Of Trust
related
$10,300,000 · Commerce Bank NA
—
—
151 Madison Ave Invtrs LLC
—
Deed Of Trust
related
$1,360,724 · Grey Gables LLC
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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