2 Hanover Rd Florham Park, NJ 07932-1819
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Estimated value (blended)
$580k
Range $522k – $638k (±10%)
Property ID
US59-3193217
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2007
Total area
3,049 SF
Lot
0.81 ac (35,284 SF)
Zoning code
PB-2
APN
11 00905-0000-00030- 01
UPID
US59-3193217
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
-
Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$445k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$718k
Blend (final)
Blend
$580k
Owner & transaction history
since 2008
7 recorded transactions
Zoning & alternative use
PB-2 · Florham Park, NJ
Top alternative use upside
Commercial (general)
$675,000
+38.8%
Office building
$535,000
+9.6%
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.
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$580k
Value range
$522k – $638k
±10% around blend
Estimated value / SF
$190 / SF
Confidence
Property data
88
Comparable evidence
60
$522k
blend $580k
$638k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,049 SF
Lot area
0.81 ac
Year built
2007
Stories
2
APN
11 00905-0000-00030- 01
Assessed value
$1,263,000
Annual tax
$20,360
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$718k
Range $261k – $791k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$580k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+39%
vs current-use indication
Office Building
Financial Building · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
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$1.26M
Move the market yield to see immediate price impact.
Value / SF
$414
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%
$80k
$1.59M
$1.14M
$884k
$88k
$1.77M
$1.26M
$982k
$97k
$1.95M
$1.39M
$1.08M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$20,360
Tax year 2022
Assessed value
$1,263,000
Assessed 2023
Previous assessed
$1,263,000
+0.0% YoY
Effective rate
1.61%
On assessed value
Assessed land
$702,500
Assessed improvement
$560,500
Land market value
$702,500
Improvement market value
$560,500
Total market value
$1,263,000
Applied tax rate
11.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2007
Heating
NONE
Stories
2
Total area
3,049 SF
Lot
0.81 ac (35,284 SF)
Zoning code
PB-2
APN
11 00905-0000-00030- 01
UPID
US59-3193217
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
PB-2 · Florham Park, NJZoning PB-2 · permitted uses
PB-2 · Florham Park, 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
2007
Heating
NONE
Stories
2
Lot
0.81 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
PB-2
Jurisdiction
Florham Park, NJ
Recorded code
PB-2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for PB-2 in Florham Park, NJ.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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