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Property profile & analytics
OFF-MARKET
Estimated value
$770,000
Commercial real estate
2 Cortlandt St Belleville, NJ 07109-3004
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US59-2077277
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1965
Construction
CONCRETE BLOCKS
Total area
2,624 SF
Lot
0.13 ac (5,515 SF)
APN
01 08507-0000-00001
UPID
US59-2077277
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
-
Crest Auto Body Inc. Auto Repair Shop
-
Direct to You Tire Service (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$770k
CAP Approach
CAP
$555k
Comparable Approach
Comparable
$743k
Blend (final)
Blend
$770k
Owner & transaction history
C Y & R D Real Estate LLC · 1 yrs held
C Y & R D Real Estate LLC
since 2024
Last sale
$770,000
5 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 Belleville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleville 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
$770,000
ML approach
$770,000
CAP Approach
CAP Return
Estimation
6%
$605,000
6.5%
$555,000
7%
$515,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$615,000
Current use
OFFICE BUILDING
$550,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$770k
Range $693k – $847k · ±10% · vs last sale $770k (Oct 16 2024)
Last sale anchor
$770k
Oct 16 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
$293 / 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
$15,358
Tax year 2022
Assessed value
$398,800
Assessed 2023
Previous assessed
$398,800
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$117,000
Assessed improvement
$281,800
Land market value
$117,000
Improvement market value
$281,800
Total market value
$398,800
Applied tax rate
1.0000
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
1965
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Total area
2,624 SF
Lot
0.13 ac (5,515 SF)
APN
01 08507-0000-00001
UPID
US59-2077277
Jurisdiction
ESSEX
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
$615,000
OFFICE BUILDING
Est. value
$550,000
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
1965
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
C Y & R D Real Estate LLC
Entity
Mailing address
101 PLZ CTR #191, SECAUCUS, NJ 07094-3508
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2024
$770,000
C Y & R D Real Estate LLC
Bv Trade 1 LLC
Deed
—
Aug 15, 2023
$770,000
Bv Trade 1 LLC
2cort LLC
Bargain And Sale Deed
$450,000 · East Willic Capital LLC
Feb 21, 2023
$425,000
2cort LLC
2 Mill Street LLC
Deed
$375,000 · 2 Mill Street LLC
—
—
Gold Crest Realty Assocs LLC
—
Deed Of Trust
related
$171,887 · Lakeland Bank
—
—
Gold Crest Realty Assocs LLC
—
Deed Of Trust
related
$300,000 · Lakeland Bank
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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