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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Commercial real estate
1579 State Rt 23, Butler, NJ 07405-1819
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-2972059
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
FRAME
Total area
3,168 SF
Lot
0.5 ac (21,758 SF)
Zoning code
R-7
APN
03 00204-0000-00002- 01
UPID
US59-2972059
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
$1.33M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$945k
Blend (final)
Blend
$1.16M
Owner & transaction history
Ar Real Estate Holdings LLC · 3 yrs held
Ar Real Estate Holdings LLC
since 2022
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
R-7 · 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
$1,265,000
ML approach
$1,325,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.13M (Jul 14 2022)
Last sale anchor
$1.13M
Jul 14 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
$365 / 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
$22,850
Tax year 2022
Assessed value
$841,200
Assessed 2023
Previous assessed
$512,500
+64.1% YoY
Effective rate
2.72%
On assessed value
Assessed land
$412,500
Assessed improvement
$428,700
Land market value
$412,500
Improvement market value
$428,700
Total market value
$841,200
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
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Total area
3,168 SF
Lot
0.5 ac (21,758 SF)
Zoning code
R-7
APN
03 00204-0000-00002- 01
UPID
US59-2972059
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-7 · Butler, NJ
Zoning R-7 · permitted uses
R-7 · 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.
Building & site characteristics
From public records
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Ar Real Estate Holdings LLC
Entity
Mailing address
1579 STATE RT 23RD RD, BUTLER, NJ 07405-1819
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2022
—
Ar Real Estate Holdings LLC
Ar Real Estate Holdings LLC
Intrafamily Transfer
related
—
Aug 14, 2018
$1,125,000
Ar Real Estate Holdings LLC
1579 Route 23 South LLC
Grant Deed
$540,000 · Bank Of America
Jan 19, 2011
—
1579 Route 23 South LLC
—
Deed Of Trust
related
$1,900,000 · Grand Bank For Savings Fsb
Nov 18, 2009
$600,000
1579 Route 22 South LLC
North Jersey Pump INC
Grant Deed
$630,000 · Skylands Community Bank
—
—
1579 Route 23 South LLC
—
Deed Of Trust
related
$700,000 · Skylands Community Bank
—
—
North Jersey Pump INC
—
Deed Of Trust
related
—
—
—
1579 Route 23 South LLC
—
Deed Of Trust
related
$800,000 · Skylands Community 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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