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Property profile & analytics
OFF-MARKET
Estimated value
$17,955,000
Commercial real estate
2 Gatehall Dr Morris Plains, NJ 07950
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US59-0261555
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1985
Construction
BRICK
Total area
405,000 SF
Lot
19.06 ac (830,341 SF)
Zoning code
ROL
APN
29 00175-0000-00055
UPID
US59-0261555
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$17.96M
Owner & transaction history
Siemens Corporation
Siemens Corporation
since 2026
Last sale
$17.8M
7 recorded transactions
Zoning & alternative use
ROL · Morris Plains, 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 Morris Plains submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morris Plains 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
$16,945,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$17.96M
Range $16.16M – $19.75M · ±10% · vs last sale $17.81M (Jan 21 2025)
Last sale anchor
$17.81M
Jan 21 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
$44 / 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
$1,352,537
Tax year 2022
Assessed value
$40,677,800
Assessed 2023
Previous assessed
$40,677,800
+0.0% YoY
Effective rate
3.33%
On assessed value
Assessed land
$17,155,800
Assessed improvement
$23,522,000
Land market value
$17,155,800
Improvement market value
$23,522,000
Total market value
$40,677,800
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1985
Construction
BRICK
Heating
NONE
Stories
4
Total area
405,000 SF
Lot
19.06 ac (830,341 SF)
Zoning code
ROL
APN
29 00175-0000-00055
UPID
US59-0261555
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
ROL · Morris Plains, NJ
Zoning ROL · permitted uses
ROL · Morris Plains, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morris Plains. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1985
Construction
BRICK
Heating
NONE
Stories
4
Lot
19.06 ac
Current owner
From public records · entity-resolved
Siemens Corporation
Entity
Mailing address
237 MAMARONECK AVE, WHITE PLAINS, NY 10605-1319
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2026
$21,000,000
Siemens Corporation
2 Gatehall Re LLC
Deed
—
Jan 21, 2025
$17,806,250
2 Gatehall Re LLC
Gatehall Drive Associates LLC
Deed
$12,000,000 · 2g LLC
Mar 2, 2020
—
2 Gatehall Drive Associates LLC
—
Deed
related
$37,000,000 · Sterling National Bank
Apr 10, 2019
—
2 Gatehall Drive Assocs LLC
—
Trustees Deed
related
$1,600,000 · Sterling Nat'l Bk
Sep 28, 2018
—
2 Gatehall Drive Assocs LLC
—
Deed
related
$30,469,999 · Sterling Nat'l Bk
Jul 11, 2016
—
2 Gatehall Drive Assocs LLC
—
Deed
related
$5,000,000 · Sterling Nat'l Bk
Jun 3, 2016
—
2 Gatehall Drive Assocs LLC
—
Trustees Deed
related
$12,000,000 · Private Individual
Dec 29, 2015
$51,000,000
2 Gatehall Drive Associates Ll
Piedmont-multi-state Owner LLC
Grant Deed
$33,000,000 · Private Individual
Dec 27, 1990
$36,200,000
P G Associates Ltd Partnership
Unknown
Grant Deed
—
—
—
2 Gatehall Drive Assocs LLC
—
Deed Of Trust
related
$33,000,000 · Sterling Nat'l Bk
—
—
2 Gatehall Drive Assocs LLC
—
Deed Of Trust
related
$5,000,000 · Sterling Nat'l Bk
—
—
2 Gatehall Drive Assocs LLC
—
Loan Modification
related
$4,875,773 · Sterling Nat'l Bk
—
—
2 Gatehall Drive Assocs LLC
—
Loan Modification
related
$30,469,999 · Sterling Nat'l Bk
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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