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Property profile & analytics
FOR LEASE
Commercial real estate
215 Belleville Ave Belleville, NJ 07109
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1023782
For Lease
1 / 9
$720,000
215 Belleville Ave, Belleville, NJ 07109
View Listing →
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
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$765k
CAP Approach
CAP
$715k
Comparable Approach
Comparable
$953k
Blend (final)
Blend
$720k
Owner & transaction history
Meekassa LLC · 3 yrs held
Meekassa LLC
since 2023
Last sale
$543,000
6 recorded transactions
Zoning & alternative use
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 Belleville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleville 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
$775,000
ML approach
$765,000
CAP Approach
CAP Return
Estimation
6%
$775,000
6.5%
$715,000
7%
$665,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$790,000
Current use
OFFICE BUILDING
$705,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$720k
Range $648k – $792k · ±10% · vs last sale $543k (Feb 6 2023)
Last sale anchor
$543k
Feb 6 2023
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
$214 / 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
$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
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
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
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$790,000
OFFICE BUILDING
Est. value
$705,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · 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
Current owner
From public records · entity-resolved
Meekassa LLC
Entity
Mailing address
34 KENDAL AVE, MAPLEWOOD, NJ 07040-1143
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 17, 2023
—
Meekassa LLC
—
Deed
related
$380,000 · Connectone Bank
Feb 6, 2023
$543,000
Meekassa LLC
213 Belleville Ave LLC
Deed
—
Nov 15, 2006
$550,000
213 Belleville Avenue LLC
Pravata,anthony
Grant Deed
—
—
—
Wet
—
Deed Of Trust
related
$400,000 · Eleanor & Gabriella Lepore
—
—
213 Belleville Avenue LLC
—
Deed Of Trust
related
$200,000 · Geraldine Pravata
—
—
213 Belleville Avenue LLC
—
Deed Of Trust
related
$400,000 · Trd Investors LLC
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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