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Property profile & analytics
OFF-MARKET
Estimated value
$2,225,000
Industrial properties
199 Main St, Lambertville, NJ 08530
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1482697
Property summary
AI-generated overview
RiverWalk Office Park, located at 199 S Main St, Lambertville, NJ 08530, offers exceptional office space in a prime location along the Delaware Canal and Route 29. This award-winning, meticulously landscaped property boasts architecturally appealing brick exteriors and creatively designed contemporary interiors. The single, two-story building comprises 18,000 square feet of Class C office space, built in 2006. The property features a total of six suites, with a minimum divisible space of 2,200 square feet and a maximum contiguous space of 6,000 square feet. Currently, multiple tenancies are available. Ample parking is provided with 72 spaces. The property is zoned C3 and is ideal for businesses seeking a prestigious and convenient location. The building's history as a restored paper mill adds unique character to this modern office setting. This well-maintained property offers a blend of historic charm and contemporary functionality, making it an attractive option for a variety of businesses, including traditional, medical, and creative office uses.
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Construction
BRICK
Total area
14,331 SF
Lot
3.88 ac (169,013 SF)
Zoning code
HC
APN
17 01055-0000-00001
UPID
US59-1482697
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
by Request
CAP Approach
CAP
$2.48M
Comparable Approach
Comparable
$1.97M
Blend (final)
Blend
$2.23M
Owner & transaction history
Eugene Albert · 1 yrs held
Eugene Albert
since 2025
5 recorded transactions
Zoning & alternative use
HC · Lambertville, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+105.0%
Apartment house (5+ units)
$1.8M
+35.0%
Commercial (general)
$1.7M
+28.3%
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 Lambertville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lambertville 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%
$2,680,000
6.5%
$2,475,000
7%
$2,300,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,335,000
Current use
OFFICE BUILDING
$2,740,000
Change: +105% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,805,000
Change: +35% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,715,000
Change: +28% · Conversion: Difficult
Blend value · Realmo final
$2.23M
Range $2.00M – $2.45M · ±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
$155 / 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
$53,204
Tax year 2022
Assessed value
$2,326,200
Assessed 2023
Previous assessed
$2,326,200
+0.0% YoY
Effective rate
2.29%
On assessed value
Assessed land
$512,800
Assessed improvement
$1,813,400
Land market value
$512,800
Improvement market value
$1,813,400
Total market value
$2,326,200
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
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Total area
14,331 SF
Lot
3.88 ac (169,013 SF)
Zoning code
HC
APN
17 01055-0000-00001
UPID
US59-1482697
Jurisdiction
HUNTERDON
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HC · Lambertville, NJ
Zoning HC · permitted uses
HC · Lambertville, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lambertville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.3M
OFFICE BUILDING
Est. value
$2.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.7M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Lot
3.88 ac
Current owner
From public records · entity-resolved
Eugene Albert
Individual
Mailing address
186 N MAIN ST, NEW HOPE, PA 18938-1317
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 27, 2025
—
Eugene Albert
—
Deed
related
$100,000 · Qnb Bank
Apr 6, 2022
—
Eugene Albert
—
Deed
related
$3,200,000 · Qnb Bank
Apr 9, 2019
—
Eugene K Albert
—
Deed
related
$3,250,000 · Rsi Bank
—
—
Eugen Albert
—
Deed Of Trust
related
$50,000 · Premier Bank
—
—
Eugene Albert
—
Deed Of Trust
related
$3,500,000 · First Federal S & L Bucks
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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