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Property profile & analytics
OFF-MARKET
Estimated value
$23,330,000
Commercial real estate
175 Park Ave Madison, NJ 07940-1123
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US59-0766115
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
CONCRETE BLOCKS
Total area
270,000 SF
Lot
15.32 ac (667,383 SF)
Zoning code
OR
APN
17 00401-0000-00002
UPID
US59-0766115
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
-
Joel McNeal, Licensed Florida Realtor-RNI Real Estate Agency
-
NRT Corporate Office
-
Core Cooling & Heating Team HVAC Service General Contractor
-
Matt Olencki, Real Estate Agent - Madison, NJ Real Estate Agency
-
Better Homes and Gardens Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$30.50M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$23.33M
Owner & transaction history
175 Park Property Corp · 7 yrs held
175 Park Property Corp
since 2019
5 recorded transactions
Zoning & alternative use
OR · Madison, 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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
by Request
CAP Approach
CAP Return
Estimation
6%
$33,035,000
6.5%
$30,495,000
7%
$28,320,000
Blend value · Realmo final
$23.33M
Range $21.00M – $25.66M · ±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
$86 / 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
$1,358,721
Tax year 2022
Assessed value
$66,150,000
Assessed 2023
Previous assessed
$66,150,000
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$11,490,800
Assessed improvement
$54,659,200
Land market value
$11,490,800
Improvement market value
$54,659,200
Total market value
$66,150,000
Applied tax rate
17.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Total area
270,000 SF
Lot
15.32 ac (667,383 SF)
Zoning code
OR
APN
17 00401-0000-00002
UPID
US59-0766115
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
OR · Madison, NJ
Zoning OR · permitted uses
OR · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
2
Lot
15.32 ac
Current owner
From public records · entity-resolved
175 Park Property Corp
Entity
Mailing address
68 S SERVICE RD STE #120, MELVILLE, NY 11747-2350
Ownership since
2019
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
Jul 2, 2019
$115,000,000
175 Park Property Corp
175 Park Avenue LLC
Grant Deed
related
—
May 3, 2018
—
175 Park Avenue LLC
—
Deed
related
$85,000,000 · Cantor Com'l R/e Lndg
Aug 29, 2017
—
Vincenzo Lasala
Lasala,vincenzo & Antonio
Quit Claim Deed
related
—
Dec 29, 2009
$10,200,000
175 Park Avenue LLC
Verizon Nj INC
Grant Deed
—
—
—
175 Park Avenue LLC
—
Deed Of Trust
related
$85,000,000 · Cantor Com'l R/e Lndg
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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