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3219 Us Highway 46, Parsippany Troy Hills, NJ 07054
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Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1994
Construction
BRICK
Total area
57,959 SF
Lot
3.38 ac (147,233 SF)
Zoning code
B-1
APN
29 00411-0000-00026
UPID
US59-1324805
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.55M
Comparable Approach
Comparable
$6.68M
Blend (final)
Blend
$6.44M
Owner & transaction history
since 2024
6 recorded transactions
Zoning & alternative use
B-1 · Parsippany, NJ
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 6 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$6.44M
Value range
$5.79M – $7.08M
±10% around blend
Estimated value / SF
$111 / SF
Confidence
High
6 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
60
Income certainty
100
$5.79M
blend $6.44M
$7.08M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
57,959 SF
Lot area
3.38 ac
Year built
1994
Stories
2
APN
29 00411-0000-00026
Zoning
B-1
Assessed value
$7,294,200
Annual tax
$238,156
3
Income approach: direct capitalization
Partial preview
Income approach indication
$6.55M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$7.09M
@ 6.5% CAP return
$6.55M
@ 7% CAP return
$6.08M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$238,156
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$13.36M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.2 mi away · 48,718 SF
11.1 mi away · 46,574 SF
18.7 mi away · 64,455 SF
19.3 mi away · 49,041 SF
22.7 mi away · 60,442 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.44M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 55 sales
$187
-41%
Submarket 107 sales
$211
-47%
County 762 sales
$243
-54%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $111/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$11.62M
Move the market yield to see immediate price impact.
Value / SF
$200
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$732k
$14.64M
$10.46M
$8.13M
$813k
$16.27M
$11.62M
$9.04M
$895k
$17.89M
$12.78M
$9.94M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$18.50M
1.7 mi · Oct 2025 · $429/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$238,156
Tax year 2022
Assessed value
$7,294,200
Assessed 2023
Previous assessed
$7,294,200
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$2,535,000
Assessed improvement
$4,759,200
Land market value
$2,535,000
Improvement market value
$4,759,200
Total market value
$7,294,200
Applied tax rate
29.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Lease
Year built
1994
Construction
BRICK
Heating
NONE
Stories
2
Total area
57,959 SF
Lot
3.38 ac (147,233 SF)
Zoning code
B-1
APN
29 00411-0000-00026
UPID
US59-1324805
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
B-1 · Parsippany, NJZoning B-1 · permitted uses
B-1 · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Construction
BRICK
Heating
NONE
Stories
2
Lot
3.38 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B-1
Jurisdiction
Parsippany, NJ
Recorded code
B-1
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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