Individually Owned Property summary
AI-generated overview
The property consists of a substantial 7,000 sq ft building situated on an 8.95-acre parcel in Sparta Township, New Jersey, located at 240 Demarest Rd (07871-3481), just off Route 15. It includes a spacious 2-bedroom apartment with ample storage and an attached 2-car garage, and the site provides parking for approximately 20 vehicles. The building is described as having construction quality evident throughout, and the property is associated with a farm assessment component that may affect ownership-related tax treatment. The site is identified as a former train museum location. Zoning is listed as RR (residential/rural).
Property profile
Verified
Property type
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
2003
Total area
6,038 SF
Lot
7.95 ac (346,302 SF)
Zoning code
RR
APN
18 12005-0000-00003
UPID
US59-0352352
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
-
Rail Museum Model Train Store
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$759k
Blend (final)
Blend
$335k
Owner & transaction history
since 2013
3 recorded transactions
Zoning & alternative use
RR · Sparta, 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 7 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$335k
Value range
$302k – $369k
±10% around blend
Estimated value / SF
$55 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
70
$302k
blend $335k
$369k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,038 SF
Lot area
7.95 ac
Year built
2003
Stories
8
APN
18 12005-0000-00003
Zoning
RR
Assessed value
$596,500
Annual tax
$20,043
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$634k
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
4.5 mi away · 7,055 SF
4.7 mi away · 4,468 SF
12.9 mi away · 5,696 SF
13.9 mi away · 5,919 SF
14.1 mi away · 4,825 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$335k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 41 sales
$173
-68%
Submarket 41 sales
$173
-68%
County 272 sales
$140
-60%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $55/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
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
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 · 7 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$597k
Move the market yield to see immediate price impact.
Value / SF
$99
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%
$38k
$752k
$537k
$418k
$42k
$835k
$597k
$464k
$46k
$919k
$656k
$510k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$630k
3.6 mi · Apr 2026 · $138/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$20,043
Tax year 2022
Assessed value
$596,500
Assessed 2023
Previous assessed
$596,500
+0.0% YoY
Effective rate
3.36%
On assessed value
Assessed land
$175,500
Assessed improvement
$421,000
Land market value
$175,500
Improvement market value
$421,000
Total market value
$596,500
Applied tax rate
18.0000
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
Other commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
2003
Heating
NONE
Stories
8
Total area
6,038 SF
Lot
7.95 ac (346,302 SF)
Zoning code
RR
APN
18 12005-0000-00003
UPID
US59-0352352
Jurisdiction
SUSSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
RR · Sparta, NJZoning RR · permitted uses
RR · Sparta, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
2003
Heating
NONE
Stories
8
Lot
7.95 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
RR
Jurisdiction
Sparta, NJ
Recorded code
RR
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.
One complete report on every paid plan · 5 · 30 · 100 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 240 Demarest Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
Full reports are paid
Unlock the full Property Analytics report
Pick a plan to open full owner contacts, all 4 valuations with methodology, the refine flow, comparable adjustments, the foot-traffic deep dive and PDF / CSV export. Cancel anytime.
