Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,835,000
Commercial real estate
291 Hanover Ave Morristown, NJ 07960-4076
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-2143932
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1986
Construction
BRICK
Total area
7,150 SF
Lot
0.81 ac (35,284 SF)
Zoning code
I-21
APN
22 10201-0000-00007
UPID
US59-2143932
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
-
Mavis Discount Tire (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.84M
Owner & transaction history
Nym Cw 1 Investor LLC · 2 yrs held
Nym Cw 1 Investor LLC
since 2024
Last sale
$3.8M
6 recorded transactions
Zoning & alternative use
I-21 · Morristown, 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 Morristown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morristown 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
$3,835,000
ML approach
$3,835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.84M
Range $3.45M – $4.22M · ±10% · vs last sale $3.84M (Apr 26 2024)
Last sale anchor
$3.84M
Apr 26 2024
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
$536 / 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
$21,327
Tax year 2022
Assessed value
$1,092,000
Assessed 2023
Previous assessed
$1,092,000
+0.0% YoY
Effective rate
1.95%
On assessed value
Assessed land
$405,000
Assessed improvement
$687,000
Land market value
$405,000
Improvement market value
$687,000
Total market value
$1,092,000
Applied tax rate
22.0000
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
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Total area
7,150 SF
Lot
0.81 ac (35,284 SF)
Zoning code
I-21
APN
22 10201-0000-00007
UPID
US59-2143932
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
I-21 · Morristown, NJ
Zoning I-21 · permitted uses
I-21 · Morristown, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morristown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1986
Construction
BRICK
Heating
NONE
Stories
1
Units
1
Lot
0.81 ac
Current owner
From public records · entity-resolved
Nym Cw 1 Investor LLC
Entity
Mailing address
291 E HANOVER AVE, MORRISTOWN, NJ 07960-4076
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 26, 2024
$3,836,074
Nym Cw 1 Investor LLC
Northeast Tire Re Owner LLC
Bargain And Sale Deed
—
Aug 26, 2021
$3,046,875
Northeast Tire Re Owner LLC
Somerset Tire Service INC
Bargain And Sale Deed
$7,053,222 · Nym Cw 1 Investor LLC
Jan 21, 2014
$950,000
Somerset Tire Service INC
Sparkle Car Wash INC
Grant Deed
—
Jan 21, 2014
—
Sparkle Car Wash INC
Sparkle Car Wash INC
Quit Claim Deed
related
—
—
—
Sparkle Car Wash INC
—
Deed Of Trust
related
$289,089 · Rudolph Bottiglione
—
—
Sparkle Car Wash INC
—
Deed Of Trust
related
$900,000 · Eva B Maietta
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 291 Hanover Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
