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215 Belleville Ave, Belleville, NJ 07109
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Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1922
Construction
CONCRETE BLOCKS
Total area
3,367 SF
Lot
0.11 ac (4,879 SF)
APN
01 06704-0000-00008
UPID
US59-1023782
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$765k
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$953k
Blend (final)
Blend
$775k
Owner & transaction history
since 2023
Last sale
$543,000
6 recorded transactions
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.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 47 comparables with addresses
2 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
$775k
Value range
$698k – $853k
±10% around blend
Estimated value / SF
$230 / SF
Confidence
High
47 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
$698k
blend $775k
$853k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,367 SF
Lot area
0.11 ac
Year built
1922
Stories
1
APN
01 06704-0000-00008
Assessed value
$511,800
Annual tax
$19,709
3
Income approach: direct capitalization
Partial preview
Income approach indication
$715k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$775k
@ 6.5% CAP return
$715k
@ 7% CAP return
$665k
4
Sales comparison
Partial preview
Sales approach indication
$960k
Weighted, 20 comps · high confidence
Evidence
47 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.7 mi away · 2,454 SF
4.0 mi away · 2,500 SF
4.0 mi away · 2,365 SF
4.2 mi away · 3,158 SF
4.3 mi away · 2,596 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$775k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 61 sales
$235
-2%
Submarket 61 sales
$235
-2%
County 734 sales
$295
-22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $230/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
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 · 47 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
6.00%
Implied, in-place cap rate for this commercial real estate
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.00%
9.0%
NOI (est.)
$38k *
Last sale · Feb 2023
$543k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$634k
Move the market yield to see immediate price impact.
Value / SF
$188
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
5.50%6.00%6.50%
$34k
$622k
$570k
$526k
$38k
$691k
$634k
$585k
$42k
$760k
$697k
$643k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
47 found
High confidence · county-verified
Closest comparable
$1.00M
2.4 mi · Apr 2026 · $287/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$19,709
Tax year 2022
Assessed value
$511,800
Assessed 2023
Previous assessed
$511,800
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$137,200
Assessed improvement
$374,600
Land market value
$137,200
Improvement market value
$374,600
Total market value
$511,800
Applied tax rate
1.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1922
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Total area
3,367 SF
Lot
0.11 ac (4,879 SF)
APN
01 06704-0000-00008
UPID
US59-1023782
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
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
1922
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Units
1
Lot
0.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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