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Property profile & analytics
FOR SALE
Commercial real estate
3231 State Route 27, Franklin Park, NJ 08823
Individually Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-1054531
For Sale
1 / 2
$3,230,769
3231 State Route 27, Franklin Park, NJ 08823
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Total area
3,440 SF
Lot
1.49 ac (64,904 SF)
Zoning code
NB
APN
08 00034- 08-00056- 01
UPID
US59-1054531
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$890k
Comparable Approach
Comparable
$734k
Blend (final)
Blend
$845k
Owner & transaction history
Ghs Ptshp · 16 yrs held
Ghs Ptshp
since 2010
4 recorded transactions
Zoning & alternative use
NB · Franklin Park, 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 Franklin Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin Park 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
by Request
CAP Approach
CAP Return
Estimation
6%
$965,000
6.5%
$890,000
7%
$825,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$880,000
Current use
OFFICE BUILDING
$710,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$845k
Range $761k – $930k · ±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
$246 / 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
$23,525
Tax year 2022
Assessed value
$1,160,000
Assessed 2023
Previous assessed
$1,160,000
+0.0% YoY
Effective rate
2.03%
On assessed value
Assessed land
$900,000
Assessed improvement
$260,000
Land market value
$900,000
Improvement market value
$260,000
Total market value
$1,160,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
For Sale
Heating
NONE
Stories
1
Units
1
Total area
3,440 SF
Lot
1.49 ac (64,904 SF)
Zoning code
NB
APN
08 00034- 08-00056- 01
UPID
US59-1054531
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
NB · Franklin Park, NJ
Zoning NB · permitted uses
NB · Franklin Park, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Franklin Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$880,000
OFFICE BUILDING
Est. value
$710,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
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
Heating
NONE
Stories
1
Units
1
Lot
1.49 ac
Current owner
From public records · entity-resolved
Ghs Ptshp
Individual
Mailing address
68 CULVER RD, MONMOUTH JUNCTION, NJ 08852-2818
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2022
—
Amd Empire Investments LLC
—
Deed
related
$1,000,000 · Scott Fields Etal
Feb 2, 2010
—
Ghs Ptshp
Livco Management LLC
Grant Deed
—
—
—
Livco Management LLC
—
Deed Of Trust
related
$1,300,000 · Arthur Gafrencu
—
—
Livco Management LLC
—
Deed Of Trust
related
$500,000 · New Millennium 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.
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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