Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$5,890,000
Commercial real estate
311 Main St Madison, NJ 07940-2338
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US59-0551093
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1948
Total area
5,000 SF
Lot
0.52 ac (22,521 SF)
Zoning code
GBA
APN
17 05101-0000-00032
UPID
US59-0551093
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
-
Madison Eyes (Bike/Boat/Book/etc) Store
-
James E. Lacotte, OD Physician
-
Michelle Phan Physician
-
Sharkey's Cuts for Kids - Madison, NJ Hair Salon
-
L&HchimneySweep&dryerVent Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.85M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.13M
Blend (final)
Blend
$5.89M
Owner & transaction history
Milelli Madison Sbp LLC · 6 yrs held
Milelli Madison Sbp LLC
since 2020
Last sale
$5.9M
1 recorded transaction
Zoning & alternative use
GBA · Madison, 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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$6,785,000
ML approach
$6,850,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.89M
Range $5.30M – $6.48M · ±10% · vs last sale $5.85M (May 14 2020)
Last sale anchor
$5.85M
May 14 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
$1,178 / 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
$32,930
Tax year 2022
Assessed value
$1,603,200
Assessed 2023
Previous assessed
$1,603,200
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$962,500
Assessed improvement
$640,700
Land market value
$962,500
Improvement market value
$640,700
Total market value
$1,603,200
Applied tax rate
17.0000
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
1948
Heating
NONE
Stories
1
Total area
5,000 SF
Lot
0.52 ac (22,521 SF)
Zoning code
GBA
APN
17 05101-0000-00032
UPID
US59-0551093
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
GBA · Madison, NJ
Zoning GBA · permitted uses
GBA · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1948
Heating
NONE
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Milelli Madison Sbp LLC
Entity
Mailing address
900 LANIDEX PLZ STE #113, PARSIPPANY, NJ 07054-2707
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2020
$5,850,000
Milelli Madison Sbp LLC
Hmc Madison I 2015 LLC
Grant Deed
$4,387,500 · Peoples Sec Bk&tr
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 311 Main St?
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.
