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Property profile & analytics
OFF-MARKET
Estimated value
$325,000
Office buildings
16 Myrtle St Bloomfield, NJ 07003-4725
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-3199858
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1909
Total area
1,485 SF
Lot
0.04 ac (1,773 SF)
Zoning code
B-2
APN
02 00127-0000-00039
UPID
US59-3199858
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
-
High Quality Kitchen Restaurant
-
Crabs on Thee Way ( Take out ) Restaurant
-
Lex's Grub 2 Go Restaurant Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$385k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$325k
Owner & transaction history
16md LLC · 5 yrs held
16md LLC
since 2021
Last sale
$242,000
5 recorded transactions
Zoning & alternative use
B-2 · Bloomfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
two-family, fifty-foot frontage. (4) R-2B Zone - Residential, two-family, forty-foot frontage. (5) R-G Zone - Garden apartment. (6) R-T Zone - Residential townhouse. (7) R-H Zone - Residential, high-rise apartment. (8) B-2 Zone - Neighborhood business. (9) CBD - Central Business District. (10) CC - Community Commercial. (11) CORD - Commuter-Oriented Resident…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
75.52 ac
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 Bloomfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomfield 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
$325,000
ML approach
$385,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$325k
Range $293k – $358k · ±10% · vs last sale $242k (May 4 2021)
Last sale anchor
$242k
May 4 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
$219 / 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
$6,231
Tax year 2022
Assessed value
$194,600
Assessed 2023
Previous assessed
$194,600
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$62,100
Assessed improvement
$132,500
Land market value
$62,100
Improvement market value
$132,500
Total market value
$194,600
Applied tax rate
2.0000
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
Year built
1909
Heating
NONE
Units
1
Total area
1,485 SF
Lot
0.04 ac (1,773 SF)
Zoning code
B-2
APN
02 00127-0000-00039
UPID
US59-3199858
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-2 · Bloomfield, NJZoning B-2 · permitted uses
B-2 · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
two-family, fifty-foot frontage. (4) R-2B Zone - Residential, two-family, forty-foot frontage. (5) R-G Zone - Garden apartment. (6) R-T Zone - Residential townhouse. (7) R-H Zone - Residential, high-rise apartment. (8) B-2 Zone - Neighborhood business. (9) CBD - Central Business District. (10) CC - Community Commercial. (11) CORD - Commuter-Oriented Residential District. (12) PO/R - Professional Office/Residential. (13) RO Zone - Regional
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
75.52 ac
Building & site characteristics
From public records
Year built
1909
Heating
NONE
Units
1
Lot
0.04 ac
Current owner
From public records · entity-resolved
16md LLC
Entity
Mailing address
42 ELM ST, MONTCLAIR, NJ 07042-3234
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
May 4, 2021
$242,000
16md LLC
Myrtle16 LLC
Deed
—
Jun 25, 2013
—
Myrtle16 LLC
Sheriff Of Essex Cnty
Trustees Deed
related
—
Jun 5, 2006
$1
Arlo Holdings LLC
Bodiongan,carlo
Grant Deed
related
—
Jun 28, 2005
$160,000
Carlo Bodiongan
Clinton Properties Assocs LLC
Grant Deed
—
Jan 11, 2005
$61,000
Clinton Properties Assocs LLC
Lamotte,marilyn
Grant Deed
—
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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