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Property profile & analytics
OFF-MARKET
Estimated value
$415,000
Office buildings
187 Broad St Bloomfield, NJ 07003-2605
Trust Owned
1-yr Hold
Free & Clear
Property ID
US59-0475669
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1889
Total area
2,307 SF
Lot
0.18 ac (7,858 SF)
Zoning code
R-G
APN
02 00517-0000-00009
UPID
US59-0475669
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
-
Affordable Premium Insurance Agency Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$425k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$415k
Owner & transaction history
Pionier Revocable Living Trust · 1 yrs held
Pionier Revocable Living Trust
since 2025
Last sale
$265,000
2 recorded transactions
Zoning & alternative use
R-G · Bloomfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
mily, 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-family, forty-foot frontage. (5) R-G Zone - Garden apartment. (6) R-T Zone - Residential townhouse. (7) R-H Zone - Residential, high-rise apartment. (8) B-2 Zone - Neighborh…
Zone name
Garden Apartment
General category
COMMERCIAL
Zone area
149.51 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
$440,000
ML approach
$425,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$415k
Range $374k – $457k · ±10% · vs last sale $265k (Jan 15 2025)
Last sale anchor
$265k
Jan 15 2025
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
$180 / 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
$15,626
Tax year 2022
Assessed value
$488,000
Assessed 2023
Previous assessed
$488,000
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$275,100
Assessed improvement
$212,900
Land market value
$275,100
Improvement market value
$212,900
Total market value
$488,000
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
1889
Heating
NONE
Units
1
Total area
2,307 SF
Lot
0.18 ac (7,858 SF)
Zoning code
R-G
APN
02 00517-0000-00009
UPID
US59-0475669
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-G · Bloomfield, NJZoning R-G · permitted uses
R-G · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
mily, 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-family, forty-foot frontage. (5) R-G Zone - Garden apartment. (6) R-T Zone - Residential townhouse. (7) R-H Zone - Residential, high-rise apartment. (8) B-2 Zone - Neighborhood business. (9) CBD - Central Business District. (10) CC - Community Commercial.
Zone name
Garden Apartment
General category
COMMERCIAL
Zone area
149.51 ac
Building & site characteristics
From public records
Year built
1889
Heating
NONE
Units
1
Lot
0.18 ac
Current owner
From public records · entity-resolved
Pionier Revocable Living Trust
Trust
Free & Clear · 1 yrs held
Mailing address
187 BROAD ST, BLOOMFIELD, NJ 07003-2605
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Jan 15, 2025
—
Pionier Revocable Living Trust
Raed M Issa
Quitclaim Deed
related
—
—
—
Raed M Issa
—
Deed Of Trust
related
$100,000 · Pnc Bk/nj
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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