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Property profile & analytics
FOR LEASE
Commercial real estate
16 Peapack Rd, Far Hills, NJ 07931
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-0290253
No photos on file
For Lease
$3,000/Mo
16 Peapack Rd, Far Hills, NJ 07931
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1940
Construction
FRAME
Total area
6,062 SF
Lot
0.34 ac (14,810 SF)
Zoning code
NO
APN
07 00011-0000-00002
UPID
US59-0290253
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 D'Apolito & Son Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$870k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$975k
Blend (final)
Blend
$805k
Owner & transaction history
Peapack Nj LLC · 5 yrs held
Peapack Nj LLC
since 2021
Last sale
$775,000
3 recorded transactions
Zoning & alternative use
NO · Far Hills, 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 Far Hills submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Far Hills 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
$805,000
ML approach
$870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,250,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$805k
Range $725k – $886k · ±10% · vs last sale $775k (Jan 15 2021)
Last sale anchor
$775k
Jan 15 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
$133 / 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
$10,004
Tax year 2022
Assessed value
$777,400
Assessed 2023
Previous assessed
$753,900
+3.1% YoY
Effective rate
1.29%
On assessed value
Assessed land
$259,800
Assessed improvement
$517,600
Land market value
$259,800
Improvement market value
$517,600
Total market value
$777,400
Applied tax rate
7.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1940
Construction
FRAME
Heating
NONE
Stories
3
Units
2
Total area
6,062 SF
Lot
0.34 ac (14,810 SF)
Zoning code
NO
APN
07 00011-0000-00002
UPID
US59-0290253
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
NO · Far Hills, NJ
Zoning NO · permitted uses
NO · Far Hills, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Far Hills. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$1.3M
OFFICE BUILDING
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
Year built
1940
Construction
FRAME
Heating
NONE
Stories
3
Units
2
Lot
0.34 ac
Current owner
From public records · entity-resolved
Peapack Nj LLC
Entity
Mailing address
120 SOUTHFIELD DR, BELLE MEAD, NJ 08502-4000
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2021
$775,000
Peapack Nj LLC
Patsy Dapolito
Bargain And Sale Deed
$5,000 · Affinity FCU
—
—
Patsy A Dapolito
—
Deed Of Trust
related
$250,000 · Peapack Gladstone Bank
—
—
Patsy A Dapolito
—
Deed Of Trust
related
$25,000 · Peapack Gladstone 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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