Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,215,000
Industrial properties
2 Eastmans Rd Parsippany, NJ 07054-3703
Entity Owned
Free & Clear
Property ID
US59-0504011
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1964
Construction
CONCRETE BLOCKS
Total area
30,447 SF
Lot
3.15 ac (137,214 SF)
Zoning code
SD3A
APN
29 00738-0000-00002
UPID
US59-0504011
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
-
Artline Heat Transfers (Bike/Boat/Book/etc) Store Printing Service
-
Donray Printing (Bike/Boat/Book/etc) Store Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.26M
Comparable Approach
Comparable
$5.09M
Blend (final)
Blend
$6.22M
Owner & transaction history
Fivf IV Nj2 LLC
Fivf IV Nj2 LLC
since 2025
Last sale
$7.3M
4 recorded transactions
Zoning & alternative use
SD3A · Parsippany, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.7M
+23.3%
Commercial (general)
$5.7M
+4.5%
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 Parsippany submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Parsippany 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%
$5,695,000
6.5%
$5,260,000
7%
$4,880,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$5,445,000
Current use
OFFICE BUILDING
$6,710,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,690,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$6.22M
Range $5.59M – $6.84M · ±10% · vs last sale $7.25M (Jul 28 2025)
Last sale anchor
$7.25M
Jul 28 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
$204 / 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
$66,613
Tax year 2022
Assessed value
$2,040,200
Assessed 2023
Previous assessed
$2,040,200
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$472,500
Assessed improvement
$1,567,700
Land market value
$472,500
Improvement market value
$1,567,700
Total market value
$2,040,200
Applied tax rate
29.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1964
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
30,447 SF
Lot
3.15 ac (137,214 SF)
Zoning code
SD3A
APN
29 00738-0000-00002
UPID
US59-0504011
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
SD3A · Parsippany, NJ
Zoning SD3A · permitted uses
SD3A · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Parsippany. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$5.4M
OFFICE BUILDING
Est. value
$6.7M
COMMERCIAL (GENERAL)
Est. value
$5.7M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
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
1964
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
3.15 ac
Current owner
From public records · entity-resolved
Fivf IV Nj2 LLC
Entity
Free & Clear · 0 yrs held
Mailing address
2 EASTMANS RD, PARSIPPANY, NJ 07054-3703
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2025
$7,250,000
Fivf IV Nj2 LLC
Ferriola Realty Co LLC
Deed
—
May 19, 1999
$1,635,000
Ferriola Realty Co LLC
Par-troy Realty Associates
Grant Deed
$1,135,000 · Trust Co Of New Jersey
—
—
Ferriola Realty Co LLC
—
Deed Of Trust
related
$1,135,000 · New Jersey Economic Dev Author
—
—
Ferriola Realty Co LLC
—
Deed Of Trust
related
$300,000 · North Fork 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2 Eastmans Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
