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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Office buildings
320 Belleville Ave Bloomfield, NJ 07003-3652
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US59-0424268
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1905
Total area
4,233 SF
Lot
0.3 ac (12,981 SF)
Zoning code
R-1A
APN
02 00252-0000-00015
UPID
US59-0424268
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
-
Neurology Consultants of North Jersey / Dr. Ayman Ibrahim Physician Medical Clinic
-
LBK Construction Management LLC Construction Company General Contractor
-
Jeral Construction Services Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$510k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$841k
Blend (final)
Blend
$510k
Owner & transaction history
Progressive R & E & Nj INC · 7 yrs held
Progressive R & E & Nj INC
since 2018
5 recorded transactions
Zoning & alternative use
R-1A · Bloomfield, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
off-street parking requirements. § 315-42 Signs. § 315-43 Fences. § 315-34 Establishment of zones. A. The territory of the Township of Bloomfield is hereby divided into 17 zones and two overlay districts as follows: (1) R-1A Zone - Residential, single-family, fifty-foot frontage. (2) R-1B Zone - Residential, single-family, forty-foot frontage. (3) R-2A Zone…
Zone name
Single Family
General category
RESIDENTIAL
Zone area
681.17 ac
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 Bloomfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bloomfield 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
by Request
ML approach
$510,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,070,000
Current use
COMMERCIAL (GENERAL)
$1,040,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$510k
Range $459k – $561k · ±10%
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
$120 / 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
$16,945
Tax year 2022
Assessed value
$529,200
Assessed 2023
Previous assessed
$529,200
+0.0% YoY
Effective rate
3.20%
On assessed value
Assessed land
$169,500
Assessed improvement
$359,700
Land market value
$169,500
Improvement market value
$359,700
Total market value
$529,200
Applied tax rate
2.0000
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
1905
Heating
NONE
Units
1
Total area
4,233 SF
Lot
0.3 ac (12,981 SF)
Zoning code
R-1A
APN
02 00252-0000-00015
UPID
US59-0424268
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-1A · Bloomfield, NJZoning R-1A · permitted uses
R-1A · Bloomfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
off-street parking requirements. § 315-42 Signs. § 315-43 Fences. § 315-34 Establishment of zones. A. The territory of the Township of Bloomfield is hereby divided into 17 zones and two overlay districts as follows: (1) R-1A Zone - Residential, single-family, fifty-foot frontage. (2) R-1B Zone - Residential, single-family, forty-foot frontage. (3) R-2A Zone - Residential, two-family, fifty-foot frontage. (4) R-2B Zone - Residential, two-fam
Zone name
Single Family
General category
RESIDENTIAL
Zone area
681.17 ac
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
OFFICE BUILDING Current
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
1905
Heating
NONE
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Progressive R & E & Nj INC
Entity
Mailing address
42 HOWARD ST, WYCKOFF, NJ 07481-3327
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2018
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
Nov 9, 2018
$405,000
Progressive R & E & Nj INC
Bergen Ave Realty LLC
Grant Deed
—
Nov 8, 2017
—
Bergen Ave Realty LLC
Sheriff Of Essex County
Trustees Deed
related
—
—
—
320 Belleville Avenue Corp
—
Deed Of Trust
related
$750,000 · Sovereign Bank
—
—
320 Belleville Avenue Corp
—
Deed Of Trust
related
$600,000 · Provident Bank INC
—
—
320 Belleville Avenue Corp
—
Deed Of Trust
related
$3,000,000 · Provident Bank INC
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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