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Property profile & analytics
OFF-MARKET
Estimated value
$15,585,000
Super regional malls
1600-1660 Rte 23rd N Wayne, NJ 07470
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US59-1902761
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Total area
56,500 SF
Lot
7.29 ac (317,552 SF)
APN
14 01602-0000-00003
UPID
US59-1902761
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
$11.09M
CAP Approach
CAP
$13.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.59M
Owner & transaction history
Standard Insurance Company · 2 yrs held
Standard Insurance Company
since 2023
Last sale
$15.4M
3 recorded transactions
Zoning & alternative use
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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$15,960,000
ML approach
$11,085,000
CAP Approach
CAP Return
Estimation
6%
$14,400,000
6.5%
$13,295,000
7%
$12,345,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,915,000
Change: 0% · Conversion: Moderate
Blend value · Realmo final
$15.59M
Range $14.03M – $17.14M · ±10% · vs last sale $15.40M (Sep 22 2023)
Last sale anchor
$15.40M
Sep 22 2023
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
$276 / 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
$385,444
Tax year 2022
Assessed value
$6,817,200
Assessed 2023
Previous assessed
$6,817,200
+0.0% YoY
Effective rate
5.65%
On assessed value
Assessed land
$2,551,500
Assessed improvement
$4,265,700
Land market value
$2,551,500
Improvement market value
$4,265,700
Total market value
$6,817,200
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Heating
NONE
Total area
56,500 SF
Lot
7.29 ac (317,552 SF)
APN
14 01602-0000-00003
UPID
US59-1902761
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$9.9M
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
Heating
NONE
Lot
7.29 ac
Current owner
From public records · entity-resolved
Standard Insurance Company
Entity
Free & Clear · 2 yrs held
Mailing address
10265 NE TANASBOURNE DR STE #201, HILLSBORO, OR 97124-7834
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Sep 22, 2023
$15,400,000
Standard Insurance Company
Waynechester Plaza LLC
Assignment Of Lease (leasehold Sale)
—
Aug 8, 2003
$3,500,000
Waynechester Plaza LLC
Wayne 23 Corp
Grant Deed
related
$10,800,000 · Unitedtrust
—
—
Waynechester Plaza INC
—
Deed Of Trust
related
$17,400,000 · Cibc
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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