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Property profile & analytics
FOR LEASE
Commercial real estate
1551 South Washington Ave Piscataway, NJ 08854
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-3079266
For Lease
1 / 2
$23,610,000
1551 South Washington Ave, Piscataway, NJ 08854
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1986
Construction
TYPE NOT SPECIFIED
Total area
190,010 SF
Lot
10.18 ac (443,441 SF)
Zoning code
LI5
APN
17 05301-0000-00014- 04
UPID
US59-3079266
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
-
Burns & McDonnell Corporate Office Business Park
-
Patient Collect Pharmacy
-
FedEx Drop Box Postal Service Courier Service
-
BeamaLife Corporation Corporate Office Business Park
-
Alacriti (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$25.30M
Comparable Approach
Comparable
$27.33M
Blend (final)
Blend
$23.61M
Owner & transaction history
Idil 1551 South Washington LLC · 3 yrs held
Idil 1551 South Washington LLC
since 2022
Last sale
$22.5M
6 recorded transactions
Zoning & alternative use
LI5 · Piscataway, 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 Piscataway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Piscataway 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
$20,430,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,400,000
6.5%
$25,295,000
7%
$23,485,000
Blend value · Realmo final
$23.61M
Range $21.25M – $25.97M · ±10% · vs last sale $22.50M (Aug 17 2022)
Last sale anchor
$22.50M
Aug 17 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
$124 / 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
$251,538
Tax year 2022
Assessed value
$11,300,000
Assessed 2023
Previous assessed
$11,300,000
+0.0% YoY
Effective rate
2.23%
On assessed value
Assessed land
$9,671,000
Assessed improvement
$1,629,000
Land market value
$9,671,000
Improvement market value
$1,629,000
Total market value
$11,300,000
Applied tax rate
17.0000
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
For Lease
Year built
1986
Construction
TYPE NOT SPECIFIED
Heating
NONE
Total area
190,010 SF
Lot
10.18 ac (443,441 SF)
Zoning code
LI5
APN
17 05301-0000-00014- 04
UPID
US59-3079266
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
LI5 · Piscataway, NJ
Zoning LI5 · permitted uses
LI5 · Piscataway, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Piscataway. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
TYPE NOT SPECIFIED
Heating
NONE
Lot
10.18 ac
Current owner
From public records · entity-resolved
Idil 1551 South Washington LLC
Entity
Mailing address
1 MEADOWLANDS PLZ STE #804, E RUTHERFORD, NJ 07073-2152
Ownership since
2022
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
Aug 17, 2022
$22,500,000
Idil 1551 South Washington LLC
1551 Plaza Partners LLC
Bargain And Sale Deed
—
Jul 9, 2019
$11,500
1551 Plaza Partners LLC
Rhs Hope LLC
Deed
$9,500,000 · M D Funding LLC
Sep 24, 2013
$9,950,000
Rhs Hope LLC
Realty Associates Fund Vi LP
Grant Deed
—
Jan 22, 2004
$24,850
Realty Associates Fund Vi
Cin Washington Plaza LLC
Grant Deed
related
—
—
—
Rhs Hope LLC
—
Deed Of Trust
related
$4,500,000 · Lakeland Bk
—
—
Realty Associates Fund Vi
—
Deed Of Trust
related
$330,000 · Miscellaneous Ins Co
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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