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Property profile & analytics
FOR LEASE
Office buildings
24 N 3Rd Ave, Highland Park, NJ 08904
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US59-1710305
For Lease
$275 SF/Yr
24 N 3Rd Ave, Highland Park, NJ 08904
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Total area
11,838 SF
Lot
0.17 ac (7,501 SF)
APN
07 01603-0000-00040
UPID
US59-1710305
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
$2.97M
Comparable Approach
Comparable
$3.76M
Blend (final)
Blend
$3.03M
Owner & transaction history
24 North 3rd Hp Real Estate · 10 yrs held
24 North 3rd Hp Real Estate
since 2016
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 Highland Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Highland Park 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%
$3,220,000
6.5%
$2,970,000
7%
$2,760,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,365,000
Current use
COMMERCIAL (GENERAL)
$3,320,000
Change: -1% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$2,960,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$3.03M
Range $2.73M – $3.33M · ±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
$256 / 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
$29,730
Tax year 2022
Assessed value
$1,614,000
Assessed 2023
Previous assessed
$1,614,000
+0.0% YoY
Effective rate
1.84%
On assessed value
Assessed land
$500,000
Assessed improvement
$1,114,000
Land market value
$500,000
Improvement market value
$1,114,000
Total market value
$1,614,000
Applied tax rate
7.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Heating
NONE
Units
1
Total area
11,838 SF
Lot
0.17 ac (7,501 SF)
APN
07 01603-0000-00040
UPID
US59-1710305
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
OFFICE BUILDING Current
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
Heating
NONE
Units
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
24 North 3rd Hp Real Estate
Individual
Mailing address
254 LAWRENCE AVE, HIGHLAND PARK, NJ 08904-1838
Ownership since
2016
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
Apr 19, 2016
$760,000
24 North 3rd Hp Real Estate
Highland Arms Park LLP
Grant Deed
$570,000 · First Choice Bk
Apr 19, 2016
—
Highland Arms Park LLP
Highland Arms Park LLP
Correction Deed
related
—
Mar 18, 2004
$1
Highland Arms Park LLP
Highland Arms Realty
Grant Deed
related
—
—
—
Highland Arms Park LLC
—
Deed Of Trust
related
$222,499 · Garlatti Realty LLP
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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