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Property profile & analytics
OFF-MARKET
Office Spaces
159 Palisade Ave 8003 Jersey City, NJ 07306-1113
Individually Owned
15-yr Hold
Free & Clear
Property ID
US59-1886565
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Total area
1,215 SF
Lot
0.04 ac (1,695 SF)
Zoning code
R-2
APN
06 05904-0000-00022-0000-C8003
UPID
US59-1886565
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
-
Joseph Popovich, MD, FACS Physician Hospital
-
Palisade Suites Medical Office Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lamay,blair · 15 yrs held
Lamay,blair
since 2010
6 recorded transactions
Zoning & alternative use
R-2 · Jersey City, 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 Jersey City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jersey City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
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 2023Property tax & assessments
Tax year 2023
Tax billed
$7,190
Tax year 2023
Assessed value
$320,000
Assessed 2024
Previous assessed
$320,000
+0.0% YoY
Effective rate
2.25%
On assessed value
Assessed land
$71,400
Assessed improvement
$248,600
Land market value
$71,400
Improvement market value
$248,600
Total market value
$320,000
Applied tax rate
6.0000
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Heating
NONE
Stories
3
Units
2
Total area
1,215 SF
Lot
0.04 ac (1,695 SF)
Zoning code
R-2
APN
06 05904-0000-00022-0000-C8003
UPID
US59-1886565
Jurisdiction
HUDSON
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R-2 · Jersey City, NJ
Zoning R-2 · permitted uses
R-2 · Jersey City, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jersey City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Stories
3
Units
2
Lot
0.04 ac
Current owner
From public records · entity-resolved
Lamay,blair
Individual
Free & Clear · 15 yrs held
Mailing address
159 PALISADE AVEC, JERSEY CITY, NJ 07306-1113
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2010
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
Oct 26, 2010
—
Lamay,blair
Palisade Professional Arts LLC
Grant Deed
related
—
Jul 19, 2007
$334,000
Lamay,blair
Palisade Professional Arts LLC
Grant Deed
$267,200 · Superior Mtg Ln Svcs
Aug 26, 2005
—
Palisades Professional Arts Ll
Popovich,joseph
Grant Deed
—
Mar 9, 2005
$325,000
Popovich,joseph
Velez,mark
Grant Deed
$240,000 · Agency Mtg
Jan 20, 2004
$135,000
Velez,mark
Norton,george & Shirley
Grant Deed
related
$100,000 · Richard Goglucci
—
—
Dmitriy Zemel
—
Deed Of Trust
related
$310,500 · Loandepot.com 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.
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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