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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    287 Cortlandt St, Unit 295 Belleville, NJ 07109-3201

    • Warehouses
    • 11,586 SF
    • 0.73 lot acres
    OFF-MARKET
    Last Sale
    Oct 26, 2022
    $1,116,436
    Value Estimations
    $1,290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-1145228
    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

    • Warehouses

    Property Details for 287 Cortlandt St

    Year built
    1917
    Construction
    CONCRETE BLOCKS
    Lot size
    0.73 lot acres
    Property size
    11,586 SF
    Property type
    Warehouses
    APN
    01 08802-0000-00008
    APU
    108802000000008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,580,000
      ML approach
      $1,515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,114,000
      Market price range: $341k - $1.73M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,130,000
      Current use
      RESTAURANT
      $2,060,000
      Change: +83% Conversion: Difficult
      OFFICE BUILDING
      $1,880,000
      Change: +66% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,800,000
      Change: +59% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,485,000
      Change: +32% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $1,120,000
      Change: -1% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belleville
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1497
    Latitude
    40.791
    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
    $29,984
    $259,100
    $519,500
    $778,600
    -
    $259,100
    $519,500
    $778,600

    Comparable in this City

    • Value Estimation
      $560,000
      4,979 SF

      382 Cortlandt St

      WAREHOUSE, STORAGE • 4,979 SF
      382 Cortlandt St, Belleville, NJ 07109-3204
      View Details
    • Value Estimation by Request
      6,300 SF

      126 Greylock Ave

      Distribution properties • 6,300 SF
      126 Greylock Ave, Belleville, NJ 07109
      View Details
    • Value Estimation by Request
      1,920 SF

      8 Roosevelt Ave

      WAREHOUSE, STORAGE • 1,920 SF
      8 Roosevelt Ave, Belleville, NJ 07109-3402
      View Details
    • Value Estimation by Request

      83 Roosevelt Ave

      Distribution properties
      83 Roosevelt Ave, Belleville, NJ 07109
      View Details
    • Value Estimation by Request
      87,450 SF

      229 Main St

      WAREHOUSE, STORAGE • 87,450 SF
      229 Main St, Belleville, NJ 07109-3120
      View Details
    • Value Estimation
      $970,000
      9.52 Acres

      525 Main St

      WAREHOUSE, STORAGE • 9.52 Acres
      525 Main St, Belleville, NJ 07109-3322
      View Details

    Similar Nearby for Sale

    • $550,000
      5,000 SF

      Free Standing Warehouse For Sale

      5,000 SF free standing warehouse with on-site parking.
      135 Little St, Belleville, NJ 07109
      View Details
    • $5,400,000

      Industrial Property in Belleville, NJ

      Industrial property available for sale in Belleville, New Jersey.
      288 Ralph St, Belleville, NJ 07109
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    • $849,000
      6,660 SF

      Proposed Mixed-Use Development Project

      Proposed mixed-use development with commercial, office, and residential spaces.
      132 Belmont Ave, Belleville, NJ 07109
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    • $579,000

      Commercial Land For Sale

      Commercial land available for sale.
      1105 Hamilton St, Belleville, NJ 07109
      View Details
    • $999,900

      New Construction Multifamily Property

      New construction multifamily property with modern design and quality craftsmanship.
      246-248 Cortlandt St, Belleville, NJ 07109
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    • $499,000

      Belleville Two-Family Property

      Two-family property for sale in Belleville.
      99 Harrison St, Belleville, NJ 07109
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    Similar Nearby for Lease

    • $6 SF/Yr
      10,000 SF

      Belleville Warehouse Space Available

      10,000 square foot warehouse space for lease.
      359 Cortlandt St, Belleville, NJ 07109
      View Details
    • Contact for pricing
      45,500 SF

      Belleville Warehouse Space Available

      45,500 SF warehouse space for lease in Belleville.
      525 Main St, Belleville, NJ 07109
      View Details
    • $12 SF/Yr
      14,000 SF

      Industrial Space in Belleville, NJ

      14,000 square foot industrial space available for lease.
      353 Cortlandt St, Belleville, NJ 07109
      View Details
    • $1,200 /Mo

      Belleville Commercial Space For Lease

      Storefront suitable for various businesses in Belleville Twp., NJ.
      528 Union Ave, Belleville, NJ 07109
      View Details
    • Contact for pricing
      3,476 SF

      Belleville Office Space for Lease

      3,476 SF office space ideal for medical or professional use.
      727 Joralemon St, Belleville, NJ 07109
      View Details
    • $1,750 /Mo

      Belleville Apartment with Included Utilities

      One-bedroom apartment with heat and hot water included, near transportation.
      148 Newark Ave, Belleville, NJ 07109
      View Details
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    287 Cortlandt St, Unit 295
    Belleville, NJ 07109-3201
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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