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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office buildings
283 Franklin St, Bloomfield, NJ 07003-4822
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-2065456
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1920
Total area
1,952 SF
Lot
0.13 ac (5,641 SF)
Zoning code
R-2B
APN
02 00335-0000-00001
UPID
US59-2065456
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
-
John J. Florio, DC Alternative Medicine Practice
-
Florio Health Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$490k
Comparable Approach
Comparable
$513k
Blend (final)
Blend
$505k
Owner & transaction history
Alvaro Bueno · 2 yrs held
Alvaro Bueno
since 2023
Last sale
$507,500
1 recorded transaction
Zoning & alternative use
R-2B · Bloomfield, 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 Bloomfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomfield 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
$705,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$530,000
6.5%
$490,000
7%
$455,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$495,000
Current use
COMMERCIAL (GENERAL)
$480,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $508k (Sep 29 2023)
Last sale anchor
$508k
Sep 29 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
$259 / 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
$10,333
Tax year 2022
Assessed value
$322,700
Assessed 2023
Previous assessed
$322,700
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$105,400
Assessed improvement
$217,300
Land market value
$105,400
Improvement market value
$217,300
Total market value
$322,700
Applied tax rate
2.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1920
Heating
NONE
Units
1
Total area
1,952 SF
Lot
0.13 ac (5,641 SF)
Zoning code
R-2B
APN
02 00335-0000-00001
UPID
US59-2065456
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-2B · Bloomfield, NJ
Zoning R-2B · permitted uses
R-2B · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bloomfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$495,000
COMMERCIAL (GENERAL)
Est. value
$480,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
Year built
1920
Heating
NONE
Units
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Alvaro Bueno
Individual
Mailing address
2449 86TH ST, EAST ELMHURST, NY 11369-1030
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 29, 2023
$507,500
Alvaro Bueno
John J Florio
Deed
$345,000 · John Florto
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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