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Property profile & analytics
OFF-MARKET
Estimated value
$590,000
Office buildings
247 Monroe St Passaic, NJ 07055-5922
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US59-2619325
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Construction
BRICK
Lot
0.1 ac (4,508 SF)
Zoning code
U
APN
07 04091-0000-00008
UPID
US59-2619325
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
$605k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$590k
Owner & transaction history
Tenares Communications INC · 3 yrs held
Tenares Communications INC
since 2023
Last sale
$576,000
7 recorded transactions
Zoning & alternative use
U · Passaic, NJ
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 Passaic submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Passaic 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
$595,000
ML approach
$605,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$590k
Range $531k – $649k · ±10% · vs last sale $576k (Mar 20 2023)
Last sale anchor
$576k
Mar 20 2023
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
—
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
$15,633
Tax year 2022
Assessed value
$402,500
Assessed 2023
Previous assessed
$402,500
+0.0% YoY
Effective rate
3.88%
On assessed value
Assessed land
$146,600
Assessed improvement
$255,900
Land market value
$146,600
Improvement market value
$255,900
Total market value
$402,500
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
Off-Market
Construction
BRICK
Heating
NONE
Stories
2
Lot
0.1 ac (4,508 SF)
Zoning code
U
APN
07 04091-0000-00008
UPID
US59-2619325
Jurisdiction
PASSAIC
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
U · Passaic, NJ
Zoning U · permitted uses
U · Passaic, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Passaic. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
BRICK
Heating
NONE
Stories
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Tenares Communications INC
Entity
Mailing address
247 MONROE ST, PASSAIC, NJ 07055-5922
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 21, 2024
—
Tenares Communications INC
—
Deed
related
$934,000 · Silver Hill Financial LLC
Mar 20, 2023
$576,000
Tenares Communications INC
Michael V Gonzalez Dominguez
Deed
$825,000 · Q Funding
Mar 11, 2022
—
Michael V Gonzalez Dominguez
Michael V Gonzalez Dominguez
Intrafamily Transfer
related
$581,250 · Velocity Commercial Capital LLC
Apr 2, 2019
$200,000
Drew Gross
Fregenal,marco A & Renee C
Grant Deed
—
Mar 22, 2019
$500,000
Michael V Gonzalez-dominguez
Gross,drew & Angeles
Grant Deed
$450,000 · Drew & Angeles Gross
Dec 20, 2004
$350,000
Marco A Fregenal
Gross,drew & Angeles
Grant Deed
$262,500 · Wells Fargo Financial Leasing
Mar 2, 2004
$300,000
Drew Gross
Flores,inocencio & Gladys
Grant Deed
$180,000 · Inocencio & Gladys Flores
Sep 16, 2003
$180,000
Inocencio Flores
Jafarian,lorraine
Grant Deed
—
—
—
Marco A Fregenal
—
Deed Of Trust
related
$280,000 · Wells Fargo Financial Leasing
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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