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    3371 State Rte 27 Franklin Park, NJ 08823-1312
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    Property profile & analytics

    3371 State Rte 27, Franklin Park, NJ 08823-1312

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    • Commercial real estate
    • 5.99 lot acres
    Off-Market
    Property ID
    US59-1835825
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3371 State Rte 27

    Construction
    BRICK
    Lot size
    5.99 lot acres
    Zone code
    NB
    Property type
    Commercial real estate
    APN
    08 00032-0000-00001- 01
    APU
    80003200000000101

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 23, 2025 — Tuschak Jacobson INC — Deed · related $117k · Donald Takash
    Jun 5, 2025 — Tuschak Jacobson INC — Deed · related $345k · Donald Takash
    Dec 13, 2024 — Tuschak Jacobson INC — Deed · related $235k · Donald Takash
    Jul 11, 2018 — Tuschak Jacobson INC — Grant Deed · related $7.6M · Bergen Passaic Ltach LLC
    — — Tuschak-jacobson INC — Deed Of Trust · related $2M · Valley National Bank
    — — Tuschak-jacobson INC — Deed Of Trust · related $1.2M · Valley National Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Franklin Park
    County
    Somerset
    State
    New Jersey
    Longitude
    -74.5605
    Latitude
    40.4292
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $61,504
    $3,073,800
    $126,200
    $3,200,000
    -
    $3,073,800
    $126,200
    $3,200,000

    Comparable in this City

    • Value Estimation
      $1,550,000
      8,550 SF

      3029 State Rte 27

      COMMERCIAL (GENERAL)
      3029 State Rte 27, Franklin Park, NJ 08823-1200
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    • Value Estimation
      $1,065,000
      4,080 SF

      3171 State Rte 27

      COMMERCIAL (GENERAL)
      3171 State Rte 27, Franklin Park, NJ 08823-1303
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    • Value Estimation by Request
      1,634 SF

      2993 Rt 27

      COMMERCIAL (GENERAL)
      2993 Rt 27, Franklin Park, NJ 08823
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    • Value Estimation by Request
      1,057 SF

      3025 State Rte 27

      COMMERCIAL (GENERAL)
      3025 State Rte 27, Franklin Park, NJ 08823-1236
      View Details
    • Value Estimation
      $535,000
      11.00 Acres

      3331-3333 Rt 27

      COMMERCIAL (GENERAL)
      3331-3333 Rt 27, Franklin Park, NJ 08823
      View Details
    • Value Estimation
      $940,000
      6,100 SF

      3001 State Rte 27

      COMMERCIAL (GENERAL)
      3001 State Rte 27, Franklin Park, NJ 08823-1229
      View Details

    Similar Nearby for Sale

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      Fully Occupied Commercial Building

      Commercial building with retail and office units in Franklin, NJ.
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      Pristine Office/Medical Building For Sale

      4,483 SF office/medical building in pristine condition, ready for occupancy.
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      3,500 SF

      Cannabis Dispensary on 1.48 Acres

      Cannabis dispensary on 1.48 acres in dense market.
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    • New
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      Office and Medical Building

      Office and medical building with four suite possibilities, separate bathrooms by floor, and a dedicated second-floor entrance.
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    Similar Nearby for Lease

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      Retail Space Available For Lease

      Retail property available for lease in Franklin Park, NJ.
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      Route 27 Office Suite

      660 SF office suite available for rent October 1st.
      3031 Rte 27, Franklin Twp, NJ 08823
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    • Contact for pricing
      31,040 SF

      Retail Space on Route 27

      Retail space with frontage on Route 27 available for rent.
      3391 Nj-27, Franklin Township, NJ 08823
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    • $2,400 /Mo

      Updated Condo in Franklin Park

      Ground floor condo with green views, 2 beds, 2 baths.
      122 Crabapple Ln, Franklin Park, NJ 08823
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    3371 State Rte 27
    Franklin Park, NJ 08823-1312
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    3371 State Rte 27, Franklin Park, NJ, 08823
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