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Property profile & analytics
OFF-MARKET
Estimated value
$1,495,000
Industrial properties
34 Russo Pl Berkeley Heights, NJ 07922-1617
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US59-3140854
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1969
Construction
CONCRETE BLOCKS
Total area
13,590 SF
Lot
1.1 ac (47,916 SF)
Zoning code
LI
APN
01 01901-0000-00041
UPID
US59-3140854
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
-
FlexSchool High School
-
A K De Rama Industrial Control Systems Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.50M
Owner & transaction history
34 Russo Place LLC · 13 yrs held
34 Russo Place LLC
since 2012
7 recorded transactions
Zoning & alternative use
LI · Berkeley Heights, 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 Berkeley Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley Heights 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,350,000
Current use
RESTAURANT
$2,165,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.64M · ±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
$110 / 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
$25,677
Tax year 2022
Assessed value
$611,500
Assessed 2023
Previous assessed
$611,500
+0.0% YoY
Effective rate
4.20%
On assessed value
Assessed land
$220,000
Assessed improvement
$391,500
Land market value
$220,000
Improvement market value
$391,500
Total market value
$611,500
Applied tax rate
1.0000
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1969
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Total area
13,590 SF
Lot
1.1 ac (47,916 SF)
Zoning code
LI
APN
01 01901-0000-00041
UPID
US59-3140854
Jurisdiction
UNION
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
LI · Berkeley Heights, NJ
Zoning LI · permitted uses
LI · Berkeley Heights, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Berkeley Heights. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.4M
RESTAURANT
Est. value
$2.2M
INDUSTRIAL (GENERAL) Current
RESTAURANT
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
1969
Construction
CONCRETE BLOCKS
Heating
NONE
Stories
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
34 Russo Place LLC
Entity
Mailing address
271 HILLTOP RD, MENDHAM, NJ 07945-2906
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2012
$877,500
34 Russo Place LLC
22 Russo Place LLC
Grant Deed
$400,000 · Peapack Gladstone Bank
Nov 16, 2006
$2,050,000
22 Russo Place LLC
34 Russo Place Associates LLC
Grant Deed
$1,640,000 · Peapack Gladstone Bank
Mar 22, 1999
$750,000
34 Russo Olace Associates LLC
Berkeley Technological Park
Grant Deed
$675,000 · Seller
—
—
Twill Associates
—
Deed Of Trust
related
$70,000 · Summit Bank
—
—
34 Russo Place LLC
—
Deed Of Trust
related
$700,000 · Sovereign Bank
—
—
22 Russo Associates LLC
—
Deed Of Trust
related
$60,000 · Two River Community Bank
—
—
34 Russo Place Associates LLC
—
Deed Of Trust
related
$1,200,000 · Independence Community 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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