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Property profile & analytics
OFF-MARKET
Estimated value
$1,595,000
Commercial real estate
1806 Springfield Ave 1818 New Providence, NJ 07974-1005
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1781279
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1985
Construction
BRICK
Total area
5,230 SF
Lot
0.64 ac (27,835 SF)
APN
11 00190-0000-00001
UPID
US59-1781279
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
$1.65M
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$1.37M
Blend (final)
Blend
$1.60M
Owner & transaction history
Valley Real Estate LLC · 3 yrs held
Valley Real Estate LLC
since 2023
Last sale
$1.7M
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 New Providence submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Providence 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
$1,575,000
ML approach
$1,645,000
CAP Approach
CAP Return
Estimation
6%
$1,150,000
6.5%
$1,060,000
7%
$985,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,300,000
Current use
OFFICE BUILDING
$1,065,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±10% · vs last sale $1.70M (Feb 14 2023)
Last sale anchor
$1.70M
Feb 14 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
$305 / 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
$35,218
Tax year 2022
Assessed value
$713,200
Assessed 2023
Previous assessed
$713,200
+0.0% YoY
Effective rate
4.94%
On assessed value
Assessed land
$219,500
Assessed improvement
$493,700
Land market value
$219,500
Improvement market value
$493,700
Total market value
$713,200
Applied tax rate
11.0000
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
Year built
1985
Construction
BRICK
Heating
NONE
Stories
2
Total area
5,230 SF
Lot
0.64 ac (27,835 SF)
APN
11 00190-0000-00001
UPID
US59-1781279
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA 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
COMMERCIAL (GENERAL) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
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
1985
Construction
BRICK
Heating
NONE
Stories
2
Lot
0.64 ac
Current owner
From public records · entity-resolved
Valley Real Estate LLC
Entity
Mailing address
1806 SPRINGFIELD AVE #1818, NEW PROVIDENCE, NJ 07974-1005
Mailing matches property
Yes
Owner-occupied
Yes
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
Feb 14, 2023
$1,700,000
Valley Real Estate LLC
J J Frasco Realty INC
Deed
—
May 9, 2018
—
Jj Frasco Realty INC
—
Deed
related
$610,000 · Wfb NA
—
—
Jj Frasco Realty INC
—
Deed Of Trust
related
$610,000 · Wfb NA
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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