New search
Property profile & analytics
OFF-MARKET
Estimated value
$31,615,000
Industrial properties
228 Nn E Ave 248, Elizabeth, NJ 07201-2962
Entity Owned
4-yr Hold
Free & Clear
Property ID
US59-2089507
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Total area
1,865,000 SF
Lot
2.84 ac (123,754 SF)
APN
04 00836-0000-00004
UPID
US59-2089507
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
-
A M B Property LP Property Management Company
-
Quality Warehouse & Distribution Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$31.62M
Owner & transaction history
Terreno 228 North Avenue LLC · 4 yrs held
Terreno 228 North Avenue LLC
since 2021
Last sale
$44.0M
4 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 Elizabeth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabeth 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$17 / 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
$122,041
Tax year 2022
Assessed value
$399,100
Assessed 2023
Previous assessed
$399,100
+0.0% YoY
Effective rate
30.58%
On assessed value
Assessed land
$359,400
Assessed improvement
$39,700
Land market value
$359,400
Improvement market value
$39,700
Total market value
$399,100
Applied tax rate
4.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Heating
NONE
Total area
1,865,000 SF
Lot
2.84 ac (123,754 SF)
APN
04 00836-0000-00004
UPID
US59-2089507
Jurisdiction
UNION
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
Building & site characteristics
From public records
Heating
NONE
Lot
2.84 ac
Current owner
From public records · entity-resolved
Terreno 228 North Avenue LLC
Entity
Free & Clear · 4 yrs held
Mailing address
101 MONTGOMERY ST STE #200, SAN FRANCISCO, CA 94104-4124
Ownership since
2021
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
Oct 28, 2021
$44,000,000
Terreno 228 North Avenue LLC
Light Speed Enterprises LLC
Deed
—
Apr 9, 2010
—
Light Speed Ents LLC
Caleast Nat Elizabeth LLC
Quit Claim Deed
—
Apr 9, 2010
$9,840,000
Light Speed Enterprises LLC
Caleast Nat Elizabeth LLC
Deed
$6,000,000 · The Provident Bank
Aug 6, 2007
$8,000,000
Caleast Nat Elizabeth LLC
Northern Real Estate One
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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