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Property profile & analytics
OFF-MARKET
Estimated value
$1,870,000
Office buildings
30 Old Budd Lk Rd Budd Lake, NJ 07828-1804
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US59-1183468
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
5,350 SF
Lot
1.37 ac (59,677 SF)
Zoning code
R-2
APN
27 04100-0000-00118
UPID
US59-1183468
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
-
Little Learners Budd Lake Preschool Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.87M
CAP Approach
CAP
$1.35M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.87M
Owner & transaction history
Cadet 23 LLC · 2 yrs held
Cadet 23 LLC
since 2024
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
R-2 · Budd Lake, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+16.2%
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 Budd Lake submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Budd Lake 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
$1,870,000
ML approach
$1,870,000
CAP Approach
CAP Return
Estimation
6%
$1,455,000
6.5%
$1,345,000
7%
$1,245,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,300,000
Change: +16% · Conversion: Easy
Blend value · Realmo final
$1.87M
Range $1.68M – $2.06M · ±10% · vs last sale $1.87M (May 2 2024)
Last sale anchor
$1.87M
May 2 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
$350 / 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
$31,056
Tax year 2022
Assessed value
$950,000
Assessed 2023
Previous assessed
$950,000
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$493,200
Assessed improvement
$456,800
Land market value
$493,200
Improvement market value
$456,800
Total market value
$950,000
Applied tax rate
27.0000
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
1986
Heating
NONE
Stories
2
Total area
5,350 SF
Lot
1.37 ac (59,677 SF)
Zoning code
R-2
APN
27 04100-0000-00118
UPID
US59-1183468
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-2 · Budd Lake, NJ
Zoning R-2 · permitted uses
R-2 · Budd Lake, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Budd Lake. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.3M
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
1986
Heating
NONE
Stories
2
Lot
1.37 ac
Current owner
From public records · entity-resolved
Cadet 23 LLC
Entity
Mailing address
902 CARNEGIE CTR STE #520, PRINCETON, NJ 08540-6531
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2024
$1,870,968
Cadet 23 LLC
M&jp Real Estate LLC
Deed
—
Jan 24, 2018
—
M & Jp Real Estate LLC
—
Deed
related
$70,000 · Trenton Busn Assistance
Aug 7, 2017
—
M & Jp Real Estate LLC
—
Deed
related
$343,000 · Rbac
Feb 27, 2017
$950,000
M & Jp Real Estate LLC
Lerner Ents LLC
Grant Deed
$300,000 · Harriet Lerner
—
—
M & Jp Real Estate LLC
—
Deed Of Trust
related
$343,000 · Rbac
—
—
Lerner Enterprises LLC
—
Deed Of Trust
related
$500,000 · First Morris Bank
—
—
M & Jp Real Estate LLC
—
Deed Of Trust
related
$70,000 · Trenton Busn Assistance
—
—
Lerner Enterprises LLC
—
Deed Of Trust
related
$150,000 · First Morris Bank
—
—
Lerner Ents LLC
—
Deed Of Trust
related
$100,000 · Valley National Bank
—
—
Lerner Enterprises LLC
—
Deed Of Trust
related
$800,000 · First Morris Bank
—
—
Lerner Ents LLC
—
Deed Of Trust
related
$700,000 · Valley National Bank
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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