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Property profile & analytics
OFF-MARKET
Estimated value
$650,000
Office buildings
21 Rte 31st N Pennington, NJ 08534-1621
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US59-0974691
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Lot
2.76 ac (120,226 SF)
Zoning code
O-B
APN
08 00202-0000-00001
UPID
US59-0974691
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
-
CaRu Entertainment, LLC Theater & Performing Art Venue Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$650k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$650k
Owner & transaction history
21 Pennington LLC · 8 yrs held
21 Pennington LLC
since 2018
5 recorded transactions
Zoning & alternative use
O-B · Pennington, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
100 Residence Zone. § 215-69 R-A Apartment-Townhouse Residence Zone. § 215-70 O-R Office-Residence Zone. § 215-71 TC Town Center Zone. § 215-71.1 TCB Town Center Buffer Zone. § 215-72 B-H Highway Business Zone. § 215-73 O-B Office (Building) Business Zone. § 215-74 P-O Professional Office Zone. § 215-75 E-1 Education Zone. § 215-76 E-2 Education zone. § 215-…
Zone name
Office Building Zone
General category
COMMERCIAL
Zone area
28.08 ac
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 Pennington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pennington 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
$650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$650k
Range $585k – $715k · ±10%
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
—
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
$104,858
Tax year 2022
Assessed value
$3,700,000
Assessed 2023
Previous assessed
$3,700,000
+0.0% YoY
Effective rate
2.83%
On assessed value
Assessed land
$1,035,000
Assessed improvement
$2,665,000
Land market value
$1,035,000
Improvement market value
$2,665,000
Total market value
$3,700,000
Applied tax rate
8.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Heating
NONE
Stories
2
Units
1
Lot
2.76 ac (120,226 SF)
Zoning code
O-B
APN
08 00202-0000-00001
UPID
US59-0974691
Jurisdiction
MERCER
Zoning & alternative use
O-B · Pennington, NJZoning O-B · permitted uses
O-B · Pennington, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
100 Residence Zone. § 215-69 R-A Apartment-Townhouse Residence Zone. § 215-70 O-R Office-Residence Zone. § 215-71 TC Town Center Zone. § 215-71.1 TCB Town Center Buffer Zone. § 215-72 B-H Highway Business Zone. § 215-73 O-B Office (Building) Business Zone. § 215-74 P-O Professional Office Zone. § 215-75 E-1 Education Zone. § 215-76 E-2 Education zone. § 215-77 MU-1 Mixed Use Zone. § 215-78 MU-2 Mixed Use Zone. § 215-78.1 MR Mixed Residence
Zone name
Office Building Zone
General category
COMMERCIAL
Zone area
28.08 ac
Building & site characteristics
From public records
Heating
NONE
Stories
2
Units
1
Lot
2.76 ac
Current owner
From public records · entity-resolved
21 Pennington LLC
Entity
Mailing address
21 RTE 31ST N, PENNINGTON, NJ 08534-1621
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Jun 1, 2018
$6,225,000
21 Pennington LLC
Pennington Investments LLC
Grant Deed
—
Dec 21, 2017
—
Pennington Investment LLC
—
Deed
related
$3,600,000 · Northfield Bank
Jun 3, 2005
—
Pennington Investments LLC
—
Trustees Deed
related
$4,160,000 · Hopewell Valley Community Bank
Sep 21, 2004
$1
Pennington Investments LLC
Wen-hamilton LLC
Grant Deed
related
—
—
—
Wen-hamilton LLC
—
Deed Of Trust
related
$975,000 · Hopewell Valley Community 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
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