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Property profile & analytics
OFF-MARKET
Estimated value
$2,245,000
Office Spaces
231 Main St Fl, Fort Lee, NJ 07024-5740
Individually Owned
2-yr Hold
Free & Clear
Property ID
US59-0586637
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2019
Total area
7,790 SF
Lot
5.77 ac (251,515 SF)
Zoning code
C1
APN
19 04751-0000-00002-0000-C0001
UPID
US59-0586637
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
$1.96M
Comparable Approach
Comparable
$2.69M
Blend (final)
Blend
$2.25M
Owner & transaction history
United States Postal Service · 2 yrs held
United States Postal Service
since 2023
1 recorded transaction
Zoning & alternative use
C1 · Fort Lee, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.5M
+88.4%
Apartment house (5+ units)
$2.6M
+36.0%
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 Fort Lee submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Lee 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%
$2,120,000
6.5%
$1,955,000
7%
$1,815,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,880,000
Current use
COMMERCIAL (GENERAL)
$3,545,000
Change: +88% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,560,000
Change: +36% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,745,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$2.25M
Range $2.02M – $2.47M · ±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
$288 / 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
Assessed value
$9,871,600
Assessed 2023
Previous assessed
$9,871,600
+0.0% YoY
Assessed land
$4,763,600
Assessed improvement
$5,108,000
Land market value
$4,763,600
Improvement market value
$5,108,000
Total market value
$9,871,600
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2019
Units
1
Total area
7,790 SF
Lot
5.77 ac (251,515 SF)
Zoning code
C1
APN
19 04751-0000-00002-0000-C0001
UPID
US59-0586637
Jurisdiction
BERGEN
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C1 · Fort Lee, NJ
Zoning C1 · permitted uses
C1 · Fort Lee, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fort Lee. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
INDUSTRIAL (GENERAL)
Est. value
$1.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
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
2019
Units
1
Lot
5.77 ac
Current owner
From public records · entity-resolved
United States Postal Service
Individual
Free & Clear · 2 yrs held
Mailing address
4751 MAIN ST SW, FORT LEE, NJ 07024
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2023
—
United States Postal Service
Parking Authority Of Borough Of For
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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