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Property profile & analytics
OFF-MARKET
Estimated value
$12,750,000
Commercial real estate
189 Berdan Ave 239 Wayne, NJ 07470-3233
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-1620064
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1987
Total area
12,090 SF
Lot
7 ac (304,920 SF)
Zoning code
B
APN
14 03205-0000-00008
UPID
US59-1620064
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
-
The UPS Store Courier Service Postal Service
-
The Steel Method Consultant
-
Wavework Concierge (Bike/Boat/Book/etc) Store Corporate Office
-
Fantasma Toys (Bike/Boat/Book/etc) Store
-
Cortese Pump Services Plumbing Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.75M
Owner & transaction history
Milelli Wayne LLC · 2 yrs held
Milelli Wayne LLC
since 2024
Last sale
$12.8M
7 recorded transactions
Zoning & alternative use
B · Wayne, 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 Wayne submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wayne 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
$12,750,000
ML approach
$12,750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$12.75M
Range $11.48M – $14.03M · ±10% · vs last sale $12.75M (Jan 23 2024)
Last sale anchor
$12.75M
Jan 23 2024
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
$1,055 / 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
$571,721
Tax year 2022
Assessed value
$10,111,800
Assessed 2023
Previous assessed
$10,111,800
+0.0% YoY
Effective rate
5.65%
On assessed value
Assessed land
$4,650,700
Assessed improvement
$5,461,100
Land market value
$4,650,700
Improvement market value
$5,461,100
Total market value
$10,111,800
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1987
Heating
NONE
Total area
12,090 SF
Lot
7 ac (304,920 SF)
Zoning code
B
APN
14 03205-0000-00008
UPID
US59-1620064
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
B · Wayne, NJ
Zoning B · permitted uses
B · Wayne, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wayne. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1987
Heating
NONE
Lot
7 ac
Current owner
From public records · entity-resolved
Milelli Wayne LLC
Entity
Free & Clear · 2 yrs held
Mailing address
900 LANIDEX PLZ STE #113, PARSIPPANY, NJ 07054-2707
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2024
$12,750,000
Milelli Wayne LLC
189 245 Berdan Avenue LLC
Deed
—
Nov 23, 2022
—
189 245 Berdan Avenue LLC
Corrados Point View Shopping Center
Sheriffs Deed
related
—
Jul 27, 2020
—
Corrados Pt View Shopping Ctr
—
Deed
related
$1,889,772 · Associated Supermarket Grp L
Aug 20, 2007
$22,000,000
Corrados Point View Shopping C
Ucm/cofinance Point View LLC
Deed
—
Feb 2, 2006
$1,585,000
Ucm Of Confiance Point View LLC
Berdan Associates
Grant Deed
—
—
—
Corrados Pt View Shopping Ctr
—
Deed Of Trust
related
$1,889,772 · Associated Supermarket Grp L
—
—
Corrados Pt View Shopping Ctr
—
Deed Of Trust
related
$1,889,772 · Associated Supermarket Grp L
—
—
Ucm Of Cofinance - Point View LLC
—
Deed Of Trust
related
$13,700,000 · Aig Sunamerica Life Assurance
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.
Try Rey
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