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Property profile & analytics
OFF-MARKET
Estimated value
$2,365,000
Commercial real estate
240-244 Nn W Ave 244, Westfield, NJ 07090-1547
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US59-1441959
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1900
Construction
BRICK
Total area
13,119 SF
Lot
0.1 ac (4,365 SF)
APN
20 03116-0000-00014
UPID
US59-1441959
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
$2.67M
Comparable Approach
Comparable
$1.76M
Blend (final)
Blend
$2.37M
Owner & transaction history
240 North Avenue LLC · 11 yrs held
240 North Avenue LLC
since 2014
7 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 Westfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westfield 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%
$2,885,000
6.5%
$2,665,000
7%
$2,475,000
Blend value · Realmo final
$2.37M
Range $2.13M – $2.60M · ±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
$180 / 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
$82,167
Tax year 2022
Assessed value
$3,632,500
Assessed 2023
Previous assessed
$3,632,500
+0.0% YoY
Effective rate
2.26%
On assessed value
Assessed land
$777,000
Assessed improvement
$2,855,500
Land market value
$777,000
Improvement market value
$2,855,500
Total market value
$3,632,500
Applied tax rate
20.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1900
Construction
BRICK
Heating
NONE
Stories
2
Total area
13,119 SF
Lot
0.1 ac (4,365 SF)
APN
20 03116-0000-00014
UPID
US59-1441959
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
Year built
1900
Construction
BRICK
Heating
NONE
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
240 North Avenue LLC
Entity
Mailing address
240 NN AVE W STE 3B, WESTFIELD, NJ 07090-1548
Ownership since
2014
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
Jul 11, 2014
$4,700
240 North Avenue LLC
Enb Westfield LLC
Deed
$1,750,000 · Millington Savings Bank
Sep 13, 2011
$4,300,000
Enb Westfield LLC
Jade Westfield Realty LLC
Grant Deed
$2,500,000 · Oritani Bank
Jun 13, 2006
$4,305,731
Jade Westfield Realty LLC
Jjab LLC
Grant Deed
$3,600,000 · Peapack Gladstone Bank
May 31, 2006
$4,305,731
Jade Westfield Rlty LLC
Jjab LLC
Grant Deed
—
Jun 28, 2005
—
Jjab LLC
—
Trustees Deed
related
$240,000 · Peapack Gladstone Bank
Sep 20, 2004
—
Jjab LLC
—
Trustees Deed
related
$400,000 · Peapack Gladstone Bank
—
—
Enb Westfield LLC
—
Deed Of Trust
related
$2,481,959 · Oritani Bank
—
—
Jjab LLC
—
Deed Of Trust
related
$639,950 · Peapack Gladstone Bank
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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