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Property profile & analytics
OFF-MARKET
Estimated value
$2,110,000
Commercial real estate
1565 State Rt 23, Butler, NJ 07405
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US59-1209968
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
18,116 SF
Lot
1.95 ac (84,942 SF)
Zoning code
HC
APN
03 00203-0000-00002
UPID
US59-1209968
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
$2.44M
CAP Approach
CAP
$2.05M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.11M
Owner & transaction history
1567 South Realty LLC · 4 yrs held
1567 South Realty LLC
since 2021
Last sale
$1.8M
5 recorded transactions
Zoning & alternative use
HC · Butler, 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 Butler submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Butler 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
$2,475,000
ML approach
$2,440,000
CAP Approach
CAP Return
Estimation
6%
$2,215,000
6.5%
$2,045,000
7%
$1,900,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$3,240,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$2.11M
Range $1.90M – $2.32M · ±10% · vs last sale $1.80M (Sep 20 2021)
Last sale anchor
$1.80M
Sep 20 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
$116 / 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
$100,326
Tax year 2022
Assessed value
$3,793,100
Assessed 2023
Previous assessed
$3,625,800
+4.6% YoY
Effective rate
2.64%
On assessed value
Assessed land
$1,526,900
Assessed improvement
$2,266,200
Land market value
$1,526,900
Improvement market value
$2,266,200
Total market value
$3,793,100
Applied tax rate
3.0000
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
Heating
NONE
Units
1
Total area
18,116 SF
Lot
1.95 ac (84,942 SF)
Zoning code
HC
APN
03 00203-0000-00002
UPID
US59-1209968
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HC · Butler, NJ
Zoning HC · permitted uses
HC · Butler, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Butler. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$3.2M
INDUSTRIAL (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
Units
1
Lot
1.95 ac
Current owner
From public records · entity-resolved
1567 South Realty LLC
Entity
Mailing address
1244 STATE RTE 23, WAYNE, NJ 07470-5824
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2021
—
1567 South Realty LLC
1567 South Realty LLC
Intrafamily Transfer
related
—
Jul 27, 2011
$1,800,000
1567 South Realty LLC
Kb Associates
Grant Deed
$1,800,000 · Kb Associates
—
—
1567 South Realty LLC
—
Deed Of Trust
related
$10,500 · Kb Associates
—
—
1567 South Realty LLC
—
Deed Of Trust
related
$20,000,000 · Columbia Bk
—
—
1567 South Realty LLC
—
Deed Of Trust
related
$9,000,000 · Sb One Bank
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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