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Property profile & analytics
OFF-MARKET
Commercial real estate
308 Springfield Ave Berkeley Heights, NJ 07922-1278
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US59-1488860
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
CONCRETE BLOCKS
Lot
1.23 ac (53,579 SF)
Zoning code
HB-2
APN
01 00801-0000-00028
UPID
US59-1488860
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
-
DeFabio Difference Seminars Training Center
-
Skyland Group LLC Advertising Agency Marketing & Advertising
-
Tranquility Health Center Medical Clinic Alternative Medicine Practice
-
Chan Jeanny Alternative Medicine Practice Acupuncture
-
Kohler Waste Services Inc Waste Management Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Paone Realty Associates LLC · 11 yrs held
Paone Realty Associates LLC
since 2015
2 recorded transactions
Zoning & alternative use
HB-2 · Berkeley Heights, 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 Berkeley Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley Heights 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$55,721
Tax year 2022
Assessed value
$1,327,000
Assessed 2023
Previous assessed
$1,327,000
+0.0% YoY
Effective rate
4.20%
On assessed value
Assessed land
$476,400
Assessed improvement
$850,600
Land market value
$476,400
Improvement market value
$850,600
Total market value
$1,327,000
Applied tax rate
1.0000
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
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
1.23 ac (53,579 SF)
Zoning code
HB-2
APN
01 00801-0000-00028
UPID
US59-1488860
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
HB-2 · Berkeley Heights, NJ
Zoning HB-2 · permitted uses
HB-2 · Berkeley Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkeley Heights. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
1.23 ac
Current owner
From public records · entity-resolved
Paone Realty Associates LLC
Entity
Mailing address
308 SPRINGFIELD AVE #312, BERKELEY HEIGHTS, NJ 07922-1278
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2015
—
Paone Realty Associates LLC
Paone Realty Associates LLC
Quit Claim Deed
related
—
—
—
Paone Realty Associates LLC
—
Deed Of Trust
related
$250,000 · Bank Of The Somerset Hills
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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