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Property profile & analytics
OFF-MARKET
Estimated value
$1,815,000
Commercial real estate
240 Main St Gladstone, NJ 07934-2016
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-1330019
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
BRICK
Total area
7,876 SF
Lot
1.56 ac (67,954 SF)
Zoning code
VN
APN
15 00021-0000-00003
UPID
US59-1330019
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
Current use
Occupant on record · Public records
-
Hercules Staffing Employment Agency
-
Precision for Medicine Marketing & Advertising Advertising Agency
-
Precision for Value Factory Production Facility
-
Jessica Associates Fire Station
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.04M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.82M
Owner & transaction history
240 Main Pg LLC · 3 yrs held
240 Main Pg LLC
since 2023
5 recorded transactions
Zoning & alternative use
VN · Gladstone, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$2.7M
+31.5%
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 Gladstone submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Gladstone 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%
$2,205,000
6.5%
$2,035,000
7%
$1,890,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,015,000
Current use
INDUSTRIAL (GENERAL)
$2,650,000
Change: +32% · Conversion: Moderate
OFFICE BUILDING
$1,625,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$1.82M
Range $1.63M – $2.00M · ±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
$230 / 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
$71,406
Tax year 2022
Assessed value
$3,990,000
Assessed 2023
Previous assessed
$3,885,000
+2.7% YoY
Effective rate
1.79%
On assessed value
Assessed land
$1,030,000
Assessed improvement
$2,960,000
Land market value
$1,030,000
Improvement market value
$2,960,000
Total market value
$3,990,000
Applied tax rate
15.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Total area
7,876 SF
Lot
1.56 ac (67,954 SF)
Zoning code
VN
APN
15 00021-0000-00003
UPID
US59-1330019
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
VN · Gladstone, NJ
Zoning VN · permitted uses
VN · Gladstone, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Gladstone. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.0M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Lot
1.56 ac
Current owner
From public records · entity-resolved
240 Main Pg LLC
Entity
Mailing address
27 US HWY 202ND #6, FAR HILLS, NJ 07931-7001
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 3, 2023
—
240 Main Pg LLC
M E Gladstone Proper LLC
Deed
$3,840,000 · Peapack Gladstone Bank
Jan 3, 2018
—
Me Gladstone Proper LLC
Jessica Associates LP
Grant Deed
$4,350,000 · Peapack Gladstone Bk
Aug 17, 2009
—
Jessica Associates
Jessica Associates
Quit Claim Deed
—
Jul 18, 2007
$2,750,000
Jessica Associates
Board Services LLC
Grant Deed
$2,000,000 · Skylands Community Bank
—
—
Collectively Me Gladstone Real
—
Deed Of Trust
related
$4,350,000 · Peapack Gladstone Bk
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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