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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Bars & Pubs
29-31 Florida St 31 Elizabeth, NJ 07206-1612
Individually Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-0392308
Property profile
Verified
Property type
Bars & Pubs
Use group
BAR, TAVERN
Year built
1904
Total area
3,020 SF
Lot
0.11 ac (5,001 SF)
APN
04 00740-0000-00017
UPID
US59-0392308
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
$680k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$622k
Blend (final)
Blend
$550k
Owner & transaction history
Maria E Bedoya · 6 yrs held
Maria E Bedoya
since 2020
Last sale
$440,000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$575,000
+14.5%
Commercial (general)
$550,000
+9.6%
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 Elizabeth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Elizabeth 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
$665,000
ML approach
$680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$505,000
Current use
OFFICE BUILDING
$575,000
Change: +15% · Conversion: Moderate
COMMERCIAL (GENERAL)
$550,000
Change: +10% · Conversion: Easy
Blend value · Realmo final
$550k
Range $495k – $605k · ±10% · vs last sale $440k (May 11 2020)
Last sale anchor
$440k
May 11 2020
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
$182 / 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
$11,620
Tax year 2022
Assessed value
$38,000
Assessed 2023
Previous assessed
$38,000
+0.0% YoY
Effective rate
30.58%
On assessed value
Assessed land
$10,000
Assessed improvement
$28,000
Land market value
$10,000
Improvement market value
$28,000
Total market value
$38,000
Applied tax rate
4.0000
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
Bars & Pubs
Use group
BAR, TAVERN
Status
Off-Market
Year built
1904
Heating
NONE
Total area
3,020 SF
Lot
0.11 ac (5,001 SF)
APN
04 00740-0000-00017
UPID
US59-0392308
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$505,000
OFFICE BUILDING
Est. value
$575,000
COMMERCIAL (GENERAL)
Est. value
$550,000
RESTAURANT Current
OFFICE BUILDING
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
1904
Heating
NONE
Lot
0.11 ac
Current owner
From public records · entity-resolved
Maria E Bedoya
Individual
Mailing address
31 FLORIDA ST, ELIZABETH, NJ 07206-2733
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2020
—
Maria E Bedoya
Dufau & Bedoya Realty LLC
Quit Claim Deed
related
$285,917 · Loandepot.com LLC
May 31, 2007
$440,000
Dufau & Bedoya Realty LLC
Dora Lucia Melara
Bargain And Sale Deed
$355,520 · Wachovia Bank NA
Apr 27, 2005
$400,000
Dora Lucia Melara
Victor Marques
Deed
$360,000 · Commonwealth United Mortgage
Aug 5, 2002
$310,000
Victor Marques
Tellez,jose
Grant Deed
$248,000 · Sib Mortgage Corp
Aug 5, 2002
—
Jose Tellez
K & J Contractors INC
Grant Deed
related
—
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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