Entity Owned Property summary
AI-generated overview
This warehouse property comprises 31,020 square feet and is located on a 3.12-acre lot at 2 Eastmans Rd in Parsippany, New Jersey.
Property profile
Verified
Property type
Other 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
Current use
Occupant on record · Public records
-
(Bike/Boat/Book/etc) Store Printing Service
-
(Bike/Boat/Book/etc) Store Printing Service
Location
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
since 2025
Last sale
$7.3M
4 recorded transactions
Zoning & alternative use
SD3A · Parsippany, NJ
Top alternative use upside
Office building
$6.7M
+23.3%
Commercial (general)
$5.7M
+4.5%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$6.22M
Value range
$5.59M – $6.84M
±10% around blend
Estimated value / SF
$204 / SF
Confidence
High
8 county-verified comps
Property data
100
Market benchmarks
33
Comparable evidence
80
$5.59M
blend $6.22M
$6.84M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
30,447 SF
Lot area
3.15 ac
Year built
1964
Stories
1
APN
29 00738-0000-00002
Zoning
SD3A
Assessed value
$2,040,200
Annual tax
$66,613
3
Income approach: direct capitalization
Partial preview
Income approach indication
$5.26M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$5.70M
@ 6.5% CAP return
$5.26M
@ 7% CAP return
$4.88M
4
Sales comparison
Partial preview
Sales approach indication
$7.98M
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
11.3 mi away · 26,796 SF
19.3 mi away · 30,264 SF
20.2 mi away · 21,920 SF
20.4 mi away · 25,000 SF
23.3 mi away · 38,480 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.22M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 85 sales
$179
+14%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $204/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+23%
vs current-use indication
Commercial (general)
Industrial (general) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.25M
Move the market yield to see immediate price impact.
Value / SF
$238
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$457k
$9.14M
$6.52M
$5.08M
$508k
$10.15M
$7.25M
$5.64M
$558k
$11.17M
$7.97M
$6.20M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$3.00M
11.3 mi · Apr 2026 · $130/SF
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other 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, NJZoning SD3A · permitted uses
SD3A · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1964
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
3.15 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
SD3A
Jurisdiction
Parsippany, NJ
Recorded code
SD3A
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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