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Property profile & analytics
OFF-MARKET
Estimated value
$800,000
Commercial real estate
222 Ridgewood Ave Glen Ridge, NJ 07028-1340
Individually Owned
15-yr Hold
Free & Clear
Property ID
US59-0805866
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1920
Total area
3,990 SF
Lot
0.45 ac (19,733 SF)
Zoning code
B
APN
08 00055- 01-00001
UPID
US59-0805866
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
-
Blue Foundry Bank Bank Loan Service
-
Blue Foundry Bank ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$565k
CAP Approach
CAP
$845k
Comparable Approach
Comparable
$988k
Blend (final)
Blend
$800k
Owner & transaction history
Boiling Sprgs Svgs Bk · 15 yrs held
Boiling Sprgs Svgs Bk
since 2011
4 recorded transactions
Zoning & alternative use
B · Glen Ridge, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of this zone is to promote professional and office, nursing homes, public and private schools, municipal buildings and libraries.
Zone name
Office Professional Buildings Nursing Homes Libraries Public And Private Schools And Municipal Buildings
General category
CIVIC_INSTITUTIONAL
Zone area
16.04 ac
Source
Realmo
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 Glen Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Glen Ridge 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
$565,000
CAP Approach
CAP Return
Estimation
6%
$920,000
6.5%
$845,000
7%
$785,000
Blend value · Realmo final
$800k
Range $720k – $880k · ±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
$201 / 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
$37,586
Tax year 2022
Assessed value
$1,141,400
Assessed 2023
Previous assessed
$1,141,400
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$789,300
Assessed improvement
$352,100
Land market value
$789,300
Improvement market value
$352,100
Total market value
$1,141,400
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1920
Heating
NONE
Stories
2
Units
1
Total area
3,990 SF
Lot
0.45 ac (19,733 SF)
Zoning code
B
APN
08 00055- 01-00001
UPID
US59-0805866
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B · Glen Ridge, NJZoning B · permitted uses
B · Glen Ridge, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of this zone is to promote professional and office, nursing homes, public and private schools, municipal buildings and libraries.
Zone name
Office Professional Buildings Nursing Homes Libraries Public And Private Schools And Municipal Buildings
General category
CIVIC_INSTITUTIONAL
Zone area
16.04 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
2
Units
1
Lot
0.45 ac
Current owner
From public records · entity-resolved
Boiling Sprgs Svgs Bk
Individual
Free & Clear · 15 yrs held
Mailing address
25 ORIENT WAY, RUTHERFORD, NJ 07070-2011
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2011
$1,400,000
Boiling Sprgs Svgs Bk
222 Ridgewood Ave LLC
Grant Deed
—
Dec 14, 2010
$860,000
222 Ridgewood Ave LLC
Arc Panjoh54 LLC
Grant Deed
related
—
Sep 21, 2010
$860,000
222 Ridgewood Ave LLC
Arc Panjoh54 LLC
Grant Deed
—
Dec 10, 2008
$642,857
Arc Panjoh54 LLC
Pnc Bk National Assn
Grant Deed
—
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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