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Property profile & analytics
OFF-MARKET
Estimated value
$460,000
Office buildings
171 Willard Ave Bloomfield, NJ 07003-4800
Entity Owned
5-yr Hold
Free & Clear
Property ID
US59-0560796
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Total area
3,440 SF
Lot
0.13 ac (5,471 SF)
Zoning code
R-1A
APN
02 00334-0000-00066
UPID
US59-0560796
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
-
Parrillo Anthony V DDS Dental Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$460k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$656k
Blend (final)
Blend
$460k
Owner & transaction history
Willard Franklin LLC · 5 yrs held
Willard Franklin LLC
since 2021
4 recorded transactions
Zoning & alternative use
R-1A · Bloomfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
off-street parking requirements. § 315-42 Signs. § 315-43 Fences. § 315-34 Establishment of zones. A. The territory of the Township of Bloomfield is hereby divided into 17 zones and two overlay districts as follows: (1) R-1A Zone - Residential, single-family, fifty-foot frontage. (2) R-1B Zone - Residential, single-family, forty-foot frontage. (3) R-2A Zone…
Zone name
Single Family
General category
RESIDENTIAL
Zone area
681.17 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
by Request
ML approach
$460,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$870,000
Current use
COMMERCIAL (GENERAL)
$845,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$460k
Range $414k – $506k · ±10%
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
$134 / 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
$12,008
Tax year 2022
Assessed value
$375,000
Assessed 2023
Previous assessed
$375,000
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$120,000
Assessed improvement
$255,000
Land market value
$120,000
Improvement market value
$255,000
Total market value
$375,000
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
1974
Heating
NONE
Stories
2
Units
2
Total area
3,440 SF
Lot
0.13 ac (5,471 SF)
Zoning code
R-1A
APN
02 00334-0000-00066
UPID
US59-0560796
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-1A · Bloomfield, NJZoning R-1A · permitted uses
R-1A · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
off-street parking requirements. § 315-42 Signs. § 315-43 Fences. § 315-34 Establishment of zones. A. The territory of the Township of Bloomfield is hereby divided into 17 zones and two overlay districts as follows: (1) R-1A Zone - Residential, single-family, fifty-foot frontage. (2) R-1B Zone - Residential, single-family, forty-foot frontage. (3) R-2A Zone - Residential, two-family, fifty-foot frontage. (4) R-2B Zone - Residential, two-fam
Zone name
Single Family
General category
RESIDENTIAL
Zone area
681.17 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$870,000
COMMERCIAL (GENERAL)
Est. value
$845,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1974
Heating
NONE
Stories
2
Units
2
Lot
0.13 ac
Current owner
From public records · entity-resolved
Willard Franklin LLC
Entity
Free & Clear · 5 yrs held
Mailing address
14 MESSERVE PL, NORTH HALEDON, NJ 07508-2624
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 14, 2025
—
Willard Franklin LLC
—
Deed
related
$335,000 · Provident Bank
May 28, 2021
—
Willard Franklin LLC
Frank A Canova
Deed
—
Aug 6, 2020
$375,000
Frank A Canova
Anthony V Parrillo
Grant Deed
—
May 17, 2007
—
Anthony V Parrillo
Parrillo Anthony C Trust
Quit Claim Deed
related
—
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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