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    Property profile & analytics

    2775 State Rt 23 Newfoundland, NJ 07435-1437

    • Commercial real estate
    • 880 SF
    • 1.12 lot acres
    OFF-MARKET
    Value Estimation
    $440,000
    Location Intelligence
    Property ID
    US59-1858667
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2775 State Rt 23

    Year built
    1945
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.12 lot acres
    Property size
    880 SF
    Zone code
    R-30
    Property type
    Commercial real estate
    APN
    14 00571-0000-00004
    APU
    1400571000000004

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $395,000

    • CAP approach

      CAP return
      Estimation
      6%
      $525,000
      6.5%
      $495,000
      7%
      $525,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $470,000
      Geo Method
      $510,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $545,000
      Retail
      $630,000
      Mixed-Use
      $580,000
      Hospitality
      $480,000
      Educational
      $615,000
      Residential Income
      $650,000
      Energy
      $595,000
      Income-Based Land
      $495,000
      Food Service
      $665,000

    Location Insight

    • Map
    • Local Demand
    City
    Newfoundland
    County
    Morris
    State
    New Jersey
    Longitude
    -74.4452
    Latitude
    41.0503
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $17,371
    $366,300
    $243,200
    $609,500
    -
    $366,300
    $243,200
    $609,500

    Comparable in this City

    • Value Estimation by Request
      1.00 Acre

      2719 State Rt 23

      COMMERCIAL (GENERAL) • 1.00 Acre
      2719 State Rt 23, Newfoundland, NJ 07435
      View Details
    • Value Estimation by Request
      2,914 SF

      3002 State Rt 23

      COMMERCIAL (GENERAL) • 2,914 SF
      3002 State Rt 23, Newfoundland, NJ 07435-1482
      View Details
    • Value Estimation by Request

      1033 Grn Pond Rd

      COMMERCIAL (GENERAL)
      1033 Grn Pond Rd, Newfoundland, NJ 07435-1213
      View Details
    • Value Estimation by Request
      3,544 SF

      7 Dawson Dr

      COMMERCIAL (GENERAL) • 3,544 SF
      7 Dawson Dr, Newfoundland, NJ 07435-1116
      View Details
    • Value Estimation
      $530,000
      2,592 SF

      Grn Pond Rd

      COMMERCIAL (GENERAL) • 2,592 SF
      Grn Pond Rd, Newfoundland, NJ 07435
      View Details
    • Value Estimation
      $260,000
      1,856 SF

      12 Oak Rdg Rd

      COMMERCIAL (GENERAL) • 1,856 SF
      12 Oak Rdg Rd, Newfoundland, NJ 07435-1402
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.95 Acres

      Newfoundland Commercial Space - Prime Location

      High-visibility corner unit, move-in ready. Retail or office ideal.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • Contact for pricing

      Newfoundland Commercial Office Space

      Prime location, ample parking, 300+ sq ft.
      2713 State Rt 23, Newfoundland, NJ 07435
      View Details

    Similar Nearby for Lease

    • $675 /Mo

      West Milford Office Space Available

      Office space for rent in mixed-use complex with ample parking.
      2713 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $2,150 /Mo
      19,166 SF

      Route 23 Retail Opportunity

      Well-maintained retail unit with high visibility on Route 23.
      2915 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $1,300 /Mo
      41,382 SF

      West Milford Retail/Office Space

      High visibility corner unit, move-in ready, ideal for retail or office.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $1,300 /Mo

      High Visibility Corner Unit

      Retail or office space with two entrances and ample parking.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $1,300 /Mo
      41,382 SF

      Retail Space in West Milford

      Retail space with high traffic and highway exposure in West Milford.
      2727 State Rt 23, Newfoundland, NJ 07435
      View Details
    • $800 /Mo

      Commercial Space in West Milford

      Commercial property available for rent in West Milford Township, NJ.
      2713 State Rt 23, Newfoundland, NJ 07435
      View Details
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    Newfoundland, NJ 07435-1437
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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