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Property profile & analytics
FOR LEASE
Office buildings
2-4 Mill Ridge Ln Chester, NJ 07930
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-2051352
For Lease
1 / 2
$24 SF/Yr
2-4 Mill Ridge Ln, Chester, NJ 07930
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2006
Construction
FRAME
Total area
31,680 SF
Lot
3.23 ac (140,699 SF)
Zoning code
OP
APN
06 00101-0000-00012- 04
UPID
US59-2051352
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
$5.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.37M
Blend (final)
Blend
$4.72M
Owner & transaction history
4 Mill Ridge LLC · 3 yrs held
4 Mill Ridge LLC
since 2022
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
OP · Chester, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.7M
+16.2%
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 Chester submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chester 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
$5,080,000
ML approach
$5,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,635,000
Current use
COMMERCIAL (GENERAL)
$7,705,000
Change: +16% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,665,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$4.72M
Range $4.25M – $5.19M · ±10% · vs last sale $4.20M (Aug 19 2022)
Last sale anchor
$4.20M
Aug 19 2022
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
$149 / 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
$88,807
Tax year 2022
Assessed value
$3,602,200
Assessed 2023
Previous assessed
$3,406,500
+5.7% YoY
Effective rate
2.47%
On assessed value
Assessed land
$1,453,500
Assessed improvement
$2,148,700
Land market value
$1,453,500
Improvement market value
$2,148,700
Total market value
$3,602,200
Applied tax rate
6.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2006
Construction
FRAME
Heating
NONE
Stories
2
Total area
31,680 SF
Lot
3.23 ac (140,699 SF)
Zoning code
OP
APN
06 00101-0000-00012- 04
UPID
US59-2051352
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
OP · Chester, NJ
Zoning OP · permitted uses
OP · Chester, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chester. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$6.6M
COMMERCIAL (GENERAL)
Est. value
$7.7M
INDUSTRIAL (GENERAL)
Est. value
$5.7M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
2006
Construction
FRAME
Heating
NONE
Stories
2
Lot
3.23 ac
Current owner
From public records · entity-resolved
4 Mill Ridge LLC
Entity
Mailing address
24 ML RDG LN, CHESTER, NJ 07930-2486
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2022
$4,202,500
4 Mill Ridge LLC
2 4 Mill Ridge LLC
Deed
$3,075,000 · Lakeland Bank
Sep 10, 2019
$1,850,000
2-4 Mill Ridge LLC
M & M Chester LLC
Grant Deed
—
Jan 22, 2018
$6,300,000
M & M Chester LLC
Arc Rbcsrnj001 LLC
Grant Deed
related
$4,725,000 · Td Bk NA
Sep 6, 2012
$10,000,000
Arc Rbcsrnj001 LLC
Prospect Square LLC
Grant Deed
$5,500,000 · Customers Bank
Aug 13, 2007
—
Prospect Square LLC
Prospect Square LLC
Quit Claim Deed
related
—
Jan 25, 2007
$11,000,000
Prospect Square LLC
Wr & E Chester LLC
Grant Deed
—
Jan 9, 2006
$3,750,000
Wr & E-chester LLC
Mill Ridge Farm III LLC
Grant Deed
$8,000,000 · Timarron Cap INC
—
—
Mill Ridge Farm II LLC
—
Deed Of Trust
related
$600,000 · Boiling Spring Savings & Loan
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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