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Property profile & analytics
OFF-MARKET
Estimated value
$1,520,000
Commercial real estate
261 Springfield Ave Berkeley Heights, NJ 07922-1264
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US59-1511201
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1986
Lot
1.16 ac (50,530 SF)
Zoning code
HB-2
APN
01 00301-0000-00025
UPID
US59-1511201
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
-
Steve McMahon - State Farm Insurance Agent Insurance Agency
-
Patrick R. Smith, DC Alternative Medicine Practice
-
Medical Diagnostic Associates Medical Clinic
-
Mark Durante DDS PA Dental Office
-
Gayle M. Coakley, Eds Marriage Or Relationship Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.66M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.52M
Owner & transaction history
261 Springfield Ave LLC · 5 yrs held
261 Springfield Ave LLC
since 2021
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
HB-2 · Berkeley Heights, 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 Berkeley Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley Heights 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
$1,715,000
ML approach
$1,660,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.52M
Range $1.37M – $1.67M · ±10% · vs last sale $1.35M (Jun 1 2021)
Last sale anchor
$1.35M
Jun 1 2021
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
$35,692
Tax year 2022
Assessed value
$727,600
Assessed 2023
Previous assessed
$850,000
-14.4% YoY
Effective rate
4.91%
On assessed value
Assessed land
$352,600
Assessed improvement
$375,000
Land market value
$352,600
Improvement market value
$375,000
Total market value
$727,600
Applied tax rate
1.0000
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
1986
Heating
NONE
Lot
1.16 ac (50,530 SF)
Zoning code
HB-2
APN
01 00301-0000-00025
UPID
US59-1511201
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HB-2 · Berkeley Heights, NJ
Zoning HB-2 · permitted uses
HB-2 · Berkeley Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkeley Heights. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Lot
1.16 ac
Current owner
From public records · entity-resolved
261 Springfield Ave LLC
Entity
Mailing address
261 SPRINGFIELD AVE, BERKELEY HEIGHTS, NJ 07922-1264
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 1, 2021
$1,350,000
261 Springfield Ave LLC
Brookside Partnership LP
Deed
$960,000 · Spencer Savings Bank Sla
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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