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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office buildings
186 Main St Milltown, NJ 08850-1418
Individually Owned
18-yr Hold
Free & Clear
Property ID
US59-0091689
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1954
Construction
BRICK
Total area
2,081 SF
Lot
0.19 ac (8,448 SF)
Zoning code
B-3
APN
11 00043- 01-00004
UPID
US59-0091689
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
-
Bonito Sanchez Physician
-
Ifpteaflcio Association / Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$380k
CAP Approach
CAP
$520k
Comparable Approach
Comparable
$738k
Blend (final)
Blend
$560k
Owner & transaction history
Nj Public Emp Union Local 195 · 18 yrs held
Nj Public Emp Union Local 195
since 2007
2 recorded transactions
Zoning & alternative use
B-3 · Milltown, 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 Milltown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milltown 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
$380,000
CAP Approach
CAP Return
Estimation
6%
$565,000
6.5%
$520,000
7%
$485,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$570,000
Current use
COMMERCIAL (GENERAL)
$465,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$560k
Range $504k – $616k · ±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
$269 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$20,536
Tax year 2023
Assessed value
$309,700
Assessed 2024
Previous assessed
$309,700
+0.0% YoY
Effective rate
6.63%
On assessed value
Assessed land
$87,100
Assessed improvement
$222,600
Land market value
$87,100
Improvement market value
$222,600
Total market value
$309,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1954
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Total area
2,081 SF
Lot
0.19 ac (8,448 SF)
Zoning code
B-3
APN
11 00043- 01-00004
UPID
US59-0091689
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
B-3 · Milltown, NJ
Zoning B-3 · permitted uses
B-3 · Milltown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milltown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$570,000
COMMERCIAL (GENERAL)
Est. value
$465,000
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
1954
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Lot
0.19 ac
Current owner
From public records · entity-resolved
Nj Public Emp Union Local 195
Individual
Free & Clear · 18 yrs held
Mailing address
186 N MAIN ST, MILLTOWN, NJ 08850-1418
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2007
$685,000
Nj Public Emp Union Local 195
Mattei,john F
Grant Deed
—
—
—
New Jersey Public Emps Union L
—
Deed Of Trust
related
$582,250 · Bank Of America California 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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