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Property profile & analytics
OFF-MARKET
Estimated value
$2,360,000
Drug stores
216 Washington Ave Dunellen, NJ 08812
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US59-1065590
Property profile
Verified
Property type
Drug stores
Use group
DRUG STORE, PHARMACY
Year built
1935
Construction
TYPE NOT SPECIFIED
Total area
10,510 SF
Lot
0.26 ac (11,200 SF)
APN
03 00086-0000-00001
UPID
US59-1065590
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
$2.31M
Comparable Approach
Comparable
$2.41M
Blend (final)
Blend
$2.36M
Owner & transaction history
Resol53 LLC · 9 yrs held
Resol53 LLC
since 2017
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.2M
+28.6%
Medical building
$2.0M
+21.2%
Auto repair, garage
$1.8M
+6.8%
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 Dunellen submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Dunellen 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
by Request
CAP Approach
CAP Return
Estimation
6%
$2,500,000
6.5%
$2,310,000
7%
$2,145,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,680,000
Current use
OFFICE BUILDING
$2,155,000
Change: +29% · Conversion: Easy
MEDICAL BUILDING
$2,035,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,790,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$2.36M
Range $2.12M – $2.60M · ±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
$225 / 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
$50,424
Tax year 2022
Assessed value
$1,826,300
Assessed 2023
Previous assessed
$1,826,300
+0.0% YoY
Effective rate
2.76%
On assessed value
Assessed land
$336,000
Assessed improvement
$1,490,300
Land market value
$336,000
Improvement market value
$1,490,300
Total market value
$1,826,300
Applied tax rate
3.0000
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
Drug stores
Use group
DRUG STORE, PHARMACY
Status
Off-Market
Year built
1935
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Units
1
Total area
10,510 SF
Lot
0.26 ac (11,200 SF)
APN
03 00086-0000-00001
UPID
US59-1065590
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ 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
RETAIL STORES Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$2.2M
MEDICAL BUILDING
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1935
Construction
TYPE NOT SPECIFIED
Heating
NONE
Stories
2
Units
1
Lot
0.26 ac
Current owner
From public records · entity-resolved
Resol53 LLC
Entity
Mailing address
14 S WASHINGTON AVE, DUNELLEN, NJ 08812-1252
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2019
—
Resol53 LLC
—
Deed
related
$2,000,000 · Columbia Bank
May 25, 2017
—
Resol53 LLC
Riccio,peter J
Grant Deed
related
—
—
—
Peter Riccio
—
Deed Of Trust
related
$400,000 · Patricia V Riccio
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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