230 Sherman Ave Glen Ridge, NJ 07028
Commercial real estate
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Individually Owned
20-yr Hold
Free & Clear
For Lease
1 / 10
$2,900/Mo
230 Sherman Ave, Glen Ridge, NJ 07028
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Estimated value (blended)
$2.32M
Range $2.09M – $2.55M (±10%)
Property ID
US59-0079543
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1980
Construction
BRICK
Total area
9,144 SF
Lot
0.85 ac (36,817 SF)
Zoning code
R2
APN
08 00092-0000-00017
UPID
US59-0079543
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Physician Medical Clinic
-
Physician
-
Physician
-
Physician
-
Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.94M
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$2.32M
Owner & transaction history
since 2006
1 recorded transaction
Zoning & alternative use
R2 · Glen Ridge, NJ
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.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 9 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$2.32M
Value range
$2.09M – $2.55M
±10% around blend
Estimated value / SF
$254 / SF
Confidence
High
9 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
90
$2.09M
blend $2.32M
$2.55M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,144 SF
Lot area
0.85 ac
Year built
1980
Stories
2
APN
08 00092-0000-00017
Assessed value
$2,338,400
Annual tax
$77,004
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.94M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$2.11M
@ 6.5% CAP return
$1.94M
@ 7% CAP return
$1.81M
4
Sales comparison
Partial preview
Sales approach indication
$2.32M
Weighted, 9 comps · high confidence
Evidence
9 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.2 mi away · 10,326 SF
6.0 mi away · 7,898 SF
6.7 mi away · 6,846 SF
6.8 mi away · 8,072 SF
7.6 mi away · 7,172 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$2.32M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 734 sales
$295
-14%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $254/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
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
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.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 9 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.34M
Move the market yield to see immediate price impact.
Value / SF
$256
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
5.00%7.00%9.00%
$147k
$2.95M
$2.10M
$1.64M
$164k
$3.27M
$2.34M
$1.82M
$180k
$3.60M
$2.57M
$2.00M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
9 found
High confidence · county-verified
Closest comparable
$2.20M
0.9 mi · Jan 2026 · $202/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$77,004
Tax year 2022
Assessed value
$2,338,400
Assessed 2023
Previous assessed
$2,338,400
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$1,053,000
Assessed improvement
$1,285,400
Land market value
$1,053,000
Improvement market value
$1,285,400
Total market value
$2,338,400
Applied tax rate
8.0000
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
1980
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Total area
9,144 SF
Lot
0.85 ac (36,817 SF)
Zoning code
R2
APN
08 00092-0000-00017
UPID
US59-0079543
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R2 · Glen Ridge, NJZoning R2 · permitted uses
R2 · Glen Ridge, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
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
1980
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Lot
0.85 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R2
Jurisdiction
Glen Ridge, NJ
Recorded code
R2
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R2 in Glen Ridge, NJ.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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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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